ABSTRACT
The Protection complex spread even to the shipping industry. Shipping, of all British industries, stands to lose most by trade restriction, and, of all the shipping industries in the world, British stands to lose most in a war of subsidies or other State aids. Shipping opinion is almost unanimous against tariffs and against the use of tariffs for bargaining purposes. The argument, which has cropped up from time to time, that one should tax all British goods carried on foreign ships, is met with the reminder that they carry far more foreign goods in British ships than the foreigner carries British goods in his ships. The most notable of all the shipping pronouncements on the subject was the manifesto issued by the great Conference of ship-owners held in Paris on December 7, 1932, for presentation to the nations attending the World Conference.
