xiii INTRODUCTORY PROCEEDINGS. 
probably be a number of new orders which are now in contemplation, chiefly from owners 
of coastwise fleets, but there will not be enough to keep more than half of the shipyards 
of the country busy. 
At the present time the Shipping Board has many more vessels of certain types than 
can be operated successfully by them. It is believed now that the most important single 
thing connected with our business, the most important thing that can be done for a 
merchant marine, is to have the Shipping Board built up to full strength and so organized 
that it can really perform the functions it was originally intended the Shipping Board 
should perform. 
The act creating the Shipping Board states that the board shall examine and study 
and determine in its own mind upon a standard policy to be followed by the United 
States in the acquisition and operation of a merchant marine. Apparently up to the 
present time the board has been so busy with the details of its business that it has not 
had time or opportunity to make this report, which is possibly the most important thing 
that it could do. 
Legislative action taken by us may not be entirely agreeable to those who are firmly 
entrenched in the business, but it is quite probable that no other action looking to the 
same result of getting our fair share, our permanent share in the carriage of our own goods, 
would be very much more agreeable. 
While this Society was founded to promote and foster the art of shipbuilding, it 
must be borne in mind that there must needs be something to practice on if the art is 
to remain alive with us, and I for one do not believe we will ever have a merchant marine 
in the United States without some protection to get it going. 
A cause of congratulation—in fact, several causes of congratulation—to those who 
are in our profession may be mentioned:—The growth and development during the 
past year of the American insurance business, having to do with the insurance of vessels 
and cargoes has been very satisfactory, and, on the whole, remarkable. The growth and 
development of an American classification society which bids to become really great 
is also a cause for rejoicing, and the establishment of branches practically all over the 
world by the largest banking institutions in the United States, particularly of New York, 
is something that Americans interested in shipping may be well pleased with. All of 
these things are necessary to our commerce and are an essential and component part of 
it, and no marine has ever yet really existed in a permanent way without these necessary 
adjuncts. 
On the whole, a great work has been done by starting our boys and citizens again 
upon the sea, and in interesting many responsible Americans, who ordinarily have taken 
no interest in maritime affairs, in ship operation and in shipowning. If the operation of 
American ships is reasonably profitable, there will be no lack of either men or money to 
purchase and operate these ships, and there is no reason why, under such circumstances, 
the ancient heritage of the seas may not be ours again. In these days of peace and talks 
of peace, and of leagues, it is well to remember one very essential fact—that a great 
partnership is involved, primarily a partnership between Great Britain and the United 
States, call it what you will; and if we are to be partners in deed and in truth, as well as 
in name, it is necessary in that partnership, as in any other partnership, that each mem- 
ber—each party to the compact—shall be as independent of the other party as may be, 
otherwise the partnership will become galling to that partner who depends unduly upon 
the other. Therefore it is well that we should recognize, and that our friends and blood 
