09/13/1950
https://www.presidency.ucsb.edu...
"However, the clearly desirable objective of promoting an adequate merchant marine cannot be used to condone the allowance of excessive subsidies to individual ship operators."
"I am firmly convinced of the importance of such a fleet for reasons of national defense and our international commerce."
"No, I do not, unless he wants to put the country further in the hole than it is."
"No, sir, I do not. If they could have been reduced that much, I would have reduced them."