Subsidies to Steamship Lines
May 20, 1870
Subsidies are being given to steamship companies in order to promote their more profitable and efficient operations.
Subsidies to Steamship Lines. The Senate Postal Committee to-day decided to report a bill granting a subsidy of $3,000 per round trip to the New York and Mexican Steamship Company, which plies between New York and Vera Cruz, touching at Sisal. The committee also had under consideration the proposition submitted by William H. Webb, of New York, to establish a steamship line from New York to the west coast of South America, and it is understood that they will report a bill granting a subsidy of $500,000 for that purpose. The chairman of the committee was directed to report in favor of authorizing the Postinaster-General to reduce below ten cents the rate of postage with foreign Governments with whom we have no postal treaty. The Senate Committee on Commerce to-day discussed the whole question of allowing subsidies to establish steamship lines, and the committee is favorable to granting aid to all legitimate projects. They heard an argument by a gentleman from California on behalf of the Chamber of Commerce of San Francisco in favor of a subsidy of $500,000 annually for a line from San Francisco to Australia.
About this article
“Subsidies to Steamship Lines,” Reconstructing Virginia, accessed January 18, 2019, http://reconstructingvirginia.richmond.edu/items/show/1674.