History
When the United States Maritime Commission was abolished on 24 May 1950, its functions were split between the Federal Maritime Board which was responsible for regulating shipping and awarding subsidies for construction and operation of merchant vessels, and Maritime Administration, which was responsible for administering subsidy programs, maintaining the national defense reserve merchant fleet, and operating the United States Merchant Marine Academy.
In 1961, the Federal Maritime Board regulatory functions were assumed by the newly created Federal Maritime Commission, while the subsidy functions were assigned to the Maritime Subsidy Board of the Maritime Administration.
On August 6, 1981, MARAD came under control of the Department of Transportation thereby bringing all transportation programs under one cabinet-level department.
Read more about this topic: United States Maritime Administration
Famous quotes containing the word history:
“Gossip is charming! History is merely gossip. But scandal is gossip made tedious by morality.”
—Oscar Wilde (1854–1900)
“If you look at the 150 years of modern China’s history since the Opium Wars, then you can’t avoid the conclusion that the last 15 years are the best 15 years in China’s modern history.”
—J. Stapleton Roy (b. 1935)
“There has never been in history another such culture as the Western civilization M a culture which has practiced the belief that the physical and social environment of man is subject to rational manipulation and that history is subject to the will and action of man; whereas central to the traditional cultures of the rivals of Western civilization, those of Africa and Asia, is a belief that it is environment that dominates man.”
—Ishmael Reed (b. 1938)