PANAMA CANAL AND AMERICAN COMMERCE. 71 
I am sorry that I cannot see the advantages, as conditions now exist, of the 
Panama Canal other than as a war measure and as an altruistic enterprise 
in which charity begins abroad. Commodities leaving our borders are 
not marketed by us, are not carried by us, are not underwritten by us and 
are not financed by us. The cream of commerce goes to others who do 
these things for us. 
There has been much said about the establishment of mail lines to 
South American ports. Such lines, have, unlike a subsidy policy, constitu- 
tional warrant and their establishment is clearly within the power of 
Congress. 
In the establishment of such there are two points needing attention. 
We must not gauge our service by comparison with existing ships running 
from the United States to South America, but by comparison with ships 
running from European ports. 
The proper doctrine is as follows: 
That vessels running from the ports of the United States to the ports 
of other American States, should be at least equal in comfort and con- 
venience to those from any port in Europe, and of such speed, that duration 
of voyage under analogous conditions, shall be less from the ports of the 
United States than from the great commercial ports of Europe. 
Another vital point is that good business calls for foresight in renewals. 
It is foolish to spend our money for a fleeting service and when we see newer 
and better ships constantly added to foreign lines, we should realize that we 
must do the same in the way of keeping up a competitive service. Socon- 
tracts should not be for short terms. As the necessity for new ships arises 
owners should not find themselves with a few years to run at the end of 
which they may have ships on their hands with no place to use them. Per- 
sonally I think thirty years the absolute minimum for such contracts. 
In this way, as needed, new and better vessels will be added and the older 
vessels will go into the freight or the accommodation and reserve service so 
essential to a growing line. 
DISCUSSION. 
THE PRESIDENT :—Gentlemen, this paper by Mr. Nixon is before you, and we 
will be glad to hear any one in discussion of it. Mr. Cox, the Secretary, has received 
a typewritten discussion from Mr. Chamberlain, Commissioner of Navigation. 
