05/08/1951
https://www.presidency.ucsb.edu...
"We just can't afford to let it happen."
"I extend to your Commission and its staff my thanks and congratulations for the public service you have rendered."
"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."