Word: freight
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...methods of control as set forth in the report include division of marketing territory between the various Standard Oil Companies on almost the same basis as before the dissolution, ownership of the principal pipe lines, interlocking stock ownership, fixing of prices in the producing fields, excessive and discriminatory freight rates, and ownership of the basic patents for "cracking," the technical name for reducing crude oil to gasoline...
Here we see that $307,000,000 went out of America in ocean freight rates. An additional $100,000,000 must be added for marine insurance charges on the cargoes. At least half of all this would stay in America if the pending Ship Subsidy Bill were a law and in operation...
Thus, if we carry our foreign commerce, or the major part of it, as we aim to do, the freight money, instead of being paid into foreign hands, will be paid into American hands, the great bulk of it to be spent in this country. It is generally estimated that ocean freight charges represent about 8 per cent of the value of the goods carried. It is easy to understand, then that if nine-tenths of our goods are carried in foreign ships, which would be the case without an American merchant marine worthy of the name, our ocean freight...
...Quotes Freight Rate Totals...
Take a look at the figures on imports and exports for the calendar year 1921. Leaving out the trade on the Great Lakes and the oil carrying, our exports for that period totalled $3,806,955,000 and our imports $2,186,365,000. Figure our freight charges at 8 per cent of the total value of exports and imports and we find that $478,000,000 was paid out to those who carried this commerce. Who got this money? We find that the ships of various nations received freight money as follows: United States $171,000,000 Great Britain...