People run away from the name subsidy. It is a subsidy. I…
“People run away from the name subsidy. It is a subsidy. I am not afraid to call it so. It is paid for the purpose of giving a merchant marine to the whole country so that the trade of the whole country will be benefitted thereby, and the men running the ships will of course make a reasonable profit… Unless we have a merchant marine, our navy if called upon for offensive or defensive work is going to be most defective.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
He argues that subsidizing a merchant marine is essential for national trade and naval readiness, despite the term “subsidy.”
In simple terms: A merchant marine subsidy boosts trade and defense.
Key Takeaway
Support strategic economic and defense policies.
Themes
economics
defense
policy
subsidy
Mood
analytical
pragmatic
Type
policy
economic
When to use this quote
- policy debates
- budget planning
- industry lobbying
Key Concepts
national security
maritime commerce
government funding
Questions to Reflect On
- Is the subsidy cost-effective?
- What alternatives exist?
A Different Perspective
Subsidies can create market distortions.