The Archive · 1937

Balance of Payments

"These claims involve the balance of the, payments under the ocean mail contracts which, if they were to remain in effect until their expiration date, would require the Government to pay out over $52,000,000, In addition, claims aggregating over $21,000,- fon were asserted and considered in settlement. These additional claims involve damages arising from reduction in mail pay because of disputes as to the speed of the ships; mileage disputes; reclassification of vessels; inclusion and exclusion of ports of call; additional sailings above the number specified in the contract: substitution of ships; diversion of mail; higher mileage rates; interest paid under protest; purchase, construction and reconstruction of ship: experimental work; designing, drafting and technical services; leases of piers and office freight ments, chartering vessels; suance of securities.

Also included in these mutual settlements were numerous claims of the Government involving the question of the vali of the foreign ocean mail contracts, claims for additional interest, failure to complete voyages, failure to meet speed qualifications, and many other irregulari~ ties.

Text read from the printed page and cleaned; old type leaves the occasional error.

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