INTRODUCTORY PROCEEDINGS. XXXI1X 
lately authorized Shipping Board with its extensive power depends such recommendations to 
Congress as shall best be enacted. 
Announcement has not yet been made of the personnel of this Board, but we have no 
doubt that it will be of high character and that it will possess a general knowledge of the 
whole subject. Certainly the Shipping Board will have an opportunity to afford great 
assistance and encouragement to those who desire to own and man ships to carry our flag 
over the seas and to do our share of the world’s commerce without expending an undue 
amount of the $50,000,000 appropriated for its use. 
A GOVERNMENT SHIPPING COMPANY. 
In this connection it is interesting to note the establishment of the Belgian Shipping 
Company under the auspices of the Belgian Government, with a capital of 50,000,000 francs 
($9,650,000), and of which all officers must be Belgian, born in Belgium; all stockholders 
must be Belgian, and no stockholder can be a partner or director of other companies of which 
the majority is not composed of Belgians, born in Belgium. 
MARINE INSURANCE. 
There has been recently one great change favorable to a firm establishment of an 
American merchant marine. For years the matter of marine insurance has been mostly left 
to foreign companies. As in other features of our business, we have been too busy with our 
inland matters to appreciate the worth of attention to marine insurance. Pouce 
Only six months ago we were told that shipowners must go abroad for their insurance 
and, having had that habit for years, it still was thought necessary. But we are now in quite 
a different position, for insurance has been placed in this country for large amounts on 
single ships, and, wonder of wonders, insurance is being placed here for foreign owners. 
UNITED STATES GOVERNMENT INSURANCE. 
Here we should note the result of our own Government’s operation of war risk insur- 
ance. From September 2, 1914, to July 31, 1916, the United States Government issued 1,539 
policies, insuring $138,392,389 on American non-contraband cargoes, for which it received 
$2,904,886, with net losses amounting to $712,578, making a gross profit of $2,192,384. 
Deducting salaries and operating expenses, $32,982, leaves on policies issued, during twenty- 
two months, a net profit of $2,159,416. 
Perhaps the government cost did not cover all of the charges to which private insur- 
ance companies would be subject, nevertheless the experience warrants the careful attention 
of insurers as well as insured. 
NATIVITY OF CREWS. 
One of the grave questions that arise in consideration of the American merchant 
marine is the one concerning crews. We do not suppose that at any time in the past crews 
of American ships were all native born, but it is quite certain that for a good many years 
the number of native-born Americans serving on ships has gradually been decreasing. In 
1909 about half of the crews on American ships were natives of the United States, while 
last year the proportion was reduced to 43 per cent. We believe that there still remains 
