An American Merchant Marine is one of our most firmly established traditions. It was, during the first half of our national existence, a great and growing asset. Since then it has declined in value and importance. The time has come to square this traditional ideal with effective performance.

No group of individuals did more for establishing our country than the American Merchant Seamen and Privateers. Their record speaks eloquently of their devotion and sacrifices.

Public interests in the Merchant Marine has never been sufficiently strong. We all believe in good roads on land. A merchant ship is the only good road on the water. For the same reason that the government builds highways and leaves them to private operation is is justified in helping build ships for private operation. Both national defense and commerce require ships.