...such trade must be American built, American owned, and American operated. Section 1 says : " * * * That it is necessary for the national defense and...sufficient to carry the greater portion of its commerce aud serve as a naval or m.litary auxiliary in time of war or national emergency, ultimately to be owned...

...well as of making clear the merchant marine policy of the United States, providing as follows: SEC. 1. "That it is necessary for the national defense and...shall have a merchant marine of the best equipped and moat suitable types of vessels sufficient to carry the greater portion of its commerce and serve as...

...the number of vessels and their tonnage. In the preamble to the merchant marine act it is declared that "the United States shall have a merchant marine...the best equipped and most suitable types of vessels * * *," and it is essential that this feature of the national policy be observed if the merchant marine...

...administration of the merchant marine acquired by the United States as a result of its European war activities : That it is necessary for the national defense and for the proper growth of its foreign and domestic comim-ree that the United States shall have a merchant marine of the best -equipped and most suitable...

...of it — please note that — its foreign and domestic commerce — meaning the United States — that the United States shall have a merchant marine of the best equipped and most suitable type of vessels, sufficient to carry the greater portion of its commerce— the commerce of the United...

...whatever is necessary to develop and encourage the maintenance of a merchant marine of the best-equipped and most suitable types of vessels sufficient to carry the greater portion of its commerce and to serve as a naval or military auxiliary in time of war or national emergency. To carry out this policy...

...growth of it— please note that — its foreign and domestic commerce — meaning the United States — that the United States shall have a merchant marine of the best equipped and most suitable type of vessels, sufficient to carry the greater portion of its commerce — the commerce of the United...

...conferred on the Shipping Board in the text of the act of June 5, 1920? Section 1 of that act declares that for the national defense and for the proper growth of its foreign and domestic commerce, it is necessary that the United States shall have a merchant marine, ultimately to be owned and operated...

...conferred on the Shipping Board in the text of the Act of June 5, 1920? Section 1 of that Act declares that for the national defense and for the proper growth of its foreign and domestic commerce it is necessary that the United States shall have a merchant marine, ultimately to be owned and operated...

...proper growth — help, at least, to secure the proper growth of its foreign and domestic commeFce — "that the United States shall have a merchant marine of the best (;quipped and most suitable types of vessels to efficiently carry the greater portion of its commerce."...