The amount of the bounty was to depend upon the
difference between the cost of home-built and foreign-built ships. The
loans were to be made only on first-class sea-going steamers. The plans
and specifications were to be approved by the minister of finance before
building; and steamers of over one thousand tons register must show an
average speed of not less than ten knots on a six hours' trial; those
under one thousand tons, of not less than eight knots. In addition to
the loans the Government was to bear part of the expense of insurance.
To facilitate the export of Russian goods in Russian-built ships, a
rebate was allowed of half the expense of Russian coal used in steamers
carrying less than three-fourths of a full cargo on export, and one-half
cargo on import. It was estimated that this scheme for fostering
domestic shipbuilding would entail smaller drafts on the national
treasury than would the granting of direct construction and navigation
premiums.[EU]
Progress was checked appreciably by the war with Japan (1904-05). But
the year after, the empire was active again in advancing her interests
in the East, by systematically granting subsidies to steamship lines to
various Asiatic points.
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