I wish to reiterate all the reasons which [my predecessor] has presented in favor of the policy of maintaining a strong navy as the best conservator of our peace with other nations and the best means of securing respect for the assertion of our rights of the defense of our interests, and the exercise of our influence in international matters.
People run away from the name subsidy. It is a subsidy. I am not afraid to call it so. It is paid for the purpose of giving a merchant marine to the whole country so that the trade of the whole country will be benefitted thereby, and the men running the ships will of course make a reasonable profit.... Unless we have a merchant marine, our navy if called upon for offensive or defensive work is going to be most defective.
The Government is able to afford a suitable army and a suitable navy. It may maintain them without the slightest danger to the Republic or the cause of free institutions, and fear of additional taxation ought not to change a proper policy in this regard.
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