The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-07-12
COMPLETE TEXT
OF PRESIDENTS
BONUS MESSAGE


fore the senate, and Il Is AN impnra-
tive duty to convey 10 you the prob
able effect uf the passage al this time
of the proposed act. providing for
adjusted compensation to our service
men In the world war. n this meas
urC could be- made effective at the
present time without disaster to the
nations finances and without him
drance to imperative rcndjustment of
our taxes II would present an entirely
different question than that which IL
before you. In ~ personal as well as
"a public manner which ought to be-
u plight OF good faith. 1 have COM
mcndcd the policy uf generous treat
ment Of ths nations defenders. not
as "a part uftuny contract. not ~ the
payment uf debt which ia owing
but as mark of thr nations graft
tudc. Every obligation b. to the dis
ablcd and dependent iu such re-
terence as has been made to general
compensation there has been u rcscr-
Walton as to the enrlioGt consistent
time Tor such action II Il is nkcr.
Even without such reservation. how
ever, "a modified view would be
wholly Justified at the present mo-
mcnt. because thC enactment OF the
compensation bill In the midst of the
struggle for read Justmcnt and re-
storation would hinder every effort
aud greatly imperil the financial sta.
bility OF our country. More this
cnacting cnort to -Npond billions In
gratuitics will imreril our capacity
To- discharge our first obligations to
those W. must not fail to aid.
PROBLEM II ONE
rOR THE SENATE
am addressing the senate directly
IglHaHaaa hs fsrnlsNafn la Inn 81 uf.s1t
yours, as your unfinished business
but thu executive branch Of the gov
eminent owes IL tu both houses OF
congress ana to the country frankly
to state the difficulties We daily are
called upon tu meet. and the added
pcril this measure would bring.
our land has its sharr Of the finan-
Ciul chaos aud the industrial depres-
sion uf tho world. We little hocdod
the growth OF Indebtedness ur the
limits OF expenditure during tho war
because We could not stop 90 count
the cost our one thought then WAS
tho winning Of the war. and the sur
NiNal ~ the nation. We borrowed
and loaned individuals to the nation
ana tho government, to other govern
ucnts aud to those who served the
nation with little thought OF settle
mcnt II wns relatively easy thcn.
because national life was at stake. In
the sober aftermath W. face the or
der OF reason. rather than act amid
the passions uf war and our own
land and the world are facing prob
lUms never solved before. There can
be no solution unless we face the
grim truths aud seek to solve them
in rrsulutc devotion to duty. After
q survey of more than four months
contemplating conditions which
would stagEvr an ut AS were II not
for uur abiding fuith In America. |
am fully persuaded thHt three things
are essential To the very beginning OF
the restored order uf things. These
are tho revision, Including reduction.
OF our internal taxation. the refund
ing of our war debt and the ud just
mvut OF our foreign loans IL -
vitality necessary tu settle these prob
lrms before adding tu our treasury
any such burden as is contemplated
iu the pending bill
vi 81 RESTORE TNNI3S
10 RESTOiI ~ SINESs
II H. unthiukahlc tu cNr"Ct a bust
ness revival aud the resumption Of
| the normal ways of peace Will"
maintaining the excessive taxes OF
/ war. Il rs quit, as unthiukublc to
reduce our tax burdens while com
uniting our treasury To- uu additional
/ obligation which ranges uum three
/ to fiy, billions ~ dollars Tho pre-
] else figures mo- ON, can give II u
/ is ,puo"i,Hby true that only two
[ hundred millions u year Will be- drawn
annually from fhu treasury in the
/ few years imWudlatclN b"iuI, u.s. tho
. nostuwil Is too UOous"uu'utiul TO be-
/ of real Nalu, Co tho nations defend
. cts. aud. if the oNrruiH, ct the option
..H D.. .#.H DO. e Ia