The New York herald., 1921-07-03
SPENDING War DEBT
NOW POPULAR GAME
Felix Both In and Out Of
Congress Busily Work
ing Their Schemes.
SOLDIER BONUS LEADS
Highways Across Country
With High Sounding
Names Being Urged.
SOME IDEAS AMUSING
SOLDIER BONUS LEADS
SOME IDEAS AMUSING
Situation May React Toward
Giving More Power to Mel
lon in Handling Loans.
Special Despatch to THE New York HERALD.
New York Herald Bureau,
Xashingfnn. ID. C.. LulY q

Special Despatch to THE New York HERALD.
New York Herald Buresu,
Washington, ID. c., July e.
The spenders In Congress and out OF
Congress. too. for that matter, are
having the snerriest possible time with
the development of schemes for using
the $4,000, 900, 900 that foreign nations
owe to the United States Government.
Every time any one In either House
or Senate gets an idea for having the
Government relieve the economic bur-
dens Of the people produced by war
conditions and is reminded by his con-
science or by the economy programme
Of the Government that there is no
money in the Treasury for frills or
furbelows he turns to the money
Uncle am lent to the associated Pow
ers during the war and proposes that
his present scheme be financed out of
"the proceeds OF the foreign debt.s
Senator McCumber author of the SOL
dier bonus bill. set the fashion in his re-
port on the measure by showing how
from $500, 100000 to $4,000, 600, 900
could be paid over to uninjured former
service men without putting any addi-
tional burden on the Treasury merely
by collecting the foreign debt.
He figures that II the principal Is not
available now, then the soldiers can wait
for their principal payment and take
their bonus on the instalment plan by
having the interest on the foreign loans
paid over to them as fast as the foreign
nations can make good with the install
rnent collector.
The same idea has been preached pri-
vately to members OF Congress by per
sons who want to build various highways
with high sounding names like the,"Me-
mortal Highway for Soldiers" scheme
originating in Kansas. The foreign loan,
1t is urged. can be used to put this
through from coast to coast.
A later scheme Of the same sort has
been broaohed by the promoters Of the
so-called Lee Memorial Highway. de-
signed to commemorate the life. SER
vices and character Of Robert =. Lee.
This highway Is supposed to be built
from the national capital throu yi
Richmond and on through the South,
with various branches, giving net
work Of roads where motor highways
are now only a figment OF fertile inag-
nation.
These are only samples Of the projects
ot many kinds now put up to Congress,
all with a view OF having the nan TO
foreign governments supply the neces-
ssry cash. The proposals all seem to
be made in good faith. quite overlook
ing the fact that the Secretary Of the
Treasury may have notions OF his own
as to what Is to be done with interest
and principal on the foreign debt. pro-
vided II can be realized upon in & aor-
NAL fashion.
The more responsible Representatives
In Congress find a great deal OF anuse-
ment in these proposals. especially in
view of the objections that have been
raised to the proposal delegating of au-
thority to Secretary Mellon for refund
ing the foreign loans. Mr.. Mellon has
asked for the authority in good faith
and for the best interests OF the finan-
cial affairs of the United States Gov
ernment.
But the moment he asked for the au-
thority a flood Of criticism arose. based
on the theory that the proposed grant OF
power was too broad. This criticism
has been voiced in some instances by
the very officials who favor using the
proceeds of the foreign loan to finance
some pet project that either they or their
constituents have devised.
It is said this situation ultimately
may react In favor of giving to Secretary
Mellon all the authority he seeks In
regard to funding the foreign loan, since
those who favor IL believe he is moved
entirely by the best interests of the Gov
ernment in asking for the authority out
lined In the pendinR bill