Bill Clinton: “Today my administration is sending to the Congress the ``Maritime Security and Trade Act of 1994.'' This legislation…”

“Today my administration is sending to the Congress the ``Maritime Security and Trade Act of 1994.'' This legislation represents an important step forward to assuring America's future as a maritime nation. A modern merchant United States flag fleet, with skilled U.S. mariners, will provide not only jobs and economic benefits but also an important sealift capability in times of national emergency. My administration's proposal calls for a $1 billion, 10-year program to revitalize the U.S. maritime industry. I look forward to working with the Congress to secure approval for this important legislation.”