Subsidized Shipping The Chamber of Shipping has been sounding foreign
shipping organizations in regard to a special meeting of the International Shipping Conference with a view to hammering out an international agreement for the rationalization of tonnage, either by scrapping or laying up. As was to be expected, Scandinavian shipowners strongly favour discussions, for they are suffering severely, and the Germans and Dutch, who arc also in trouble, are willing to co-operate ; no doubt the Americans, French and Italians will eventually fall into line. A meeting of the International Shipping Conference is therefore likely to be held, but its outcome is completely uncertain. All that has happened since the refusal of the delegates to the World Economic Conference to listen to the British plea for reform is that the British Government has created what Mr. Runciman described as a " lever." But whether a subsidy of only £2,000,000 will exert much leverage on countries which have poured out over £30,000,000 between them remains to be seen.
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