Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1921-07-20
DEFER SOLDIER
BONUS BILL
President Has Asked Congress to
Defer Legislation on the Bill,
And Devote Itself to
Tariff And
Taxes.
DON'T WANT BONUS
BILL PASSED NOW
Giving of Gratuities Would Defeat
Governments Discharge of
Obligations to Those
Country Most
Indebted.


Indebted.
Washington--In an address to the
Senate last week, President Hard
ing asked congress to defer SOL
dier bonus legislation and to devote
itself to tariff and tax revision leg
islation for which the country was
expectantly waiting. He declared
that the enactment of bonus legis-
lation at the present time in the
midst of the struggle for readjust-
ment and restoration would hinder
every effort and greatly imperil the
financial stability of our country.
The giving of gratuities he emph-
asized also would defeat the govern
ments discharge of obligations to
those the country is most indebted
to.
After a survey of more than four
months, said the president, contem-
plating conditions which would stag
ger all of us were it not for our
abiding faith in America, / am fully
persuaded that three things are es-
sential to the very beginning of the
restored order of things. These are
the revision, including reduction of
our internal taxation, the refunding
of our war debt and the adjustment
of our foreign loans. 1t is vitality
necessary to settle these problems
before adding to our treasury any
such burden, as is contemplated in
the pending bill.
|. Isis untt'a'-9tle ta expect bnai-
ness revival and the resumption Of
the normal ways of peace while
maintaining excessive taxes of war.
1t is quite as unthinkable to reduce
our tax burdens while committing
our treasury to an additional obliga-
ton which ranges from three to
five billions of dollars. The precise
figures no one can give, if it is con-
ceivable true that only two hundred
millions a year will be drawn an
nually from the treasury in the few
years Immediately before US. The
restowal is too inconsequential to
be of real value to the nations de-
tenders, and if the exercise of the
option should call for cash running
into billions, the depression in finance
ard industry would be so marked
that vastly more harm than gooo
would attend.
The present interest rate of 5A
per cent on government short term
loans, together with definite obliga-
tions amounting to $7,500,000, 900
maturing within the next two years,
presented a condition, which the
president pointed out, was virtually
all the treasury could stand. Further
burdening of the treasury, he said,
meant positive distaste in the years
Immediately before US, declaring that
the administration now was engaged
in a campaign of economy which
promised great savings, the president
continued. l can make you no de-
finite promise in figures today but
l can pledge you most conscientious
drive to reduce government cost
by many billions--it would be most
discouraging to those who are bend
ing their energies to save millions to
have congress add billions to our
burdens at the very beginning.
Even were there not the threatened
paralysis of our treasury with its
fatal refexes on all our activities
which concern our prosperity, would
it not be better to await settlement
of our foreign loans. At such a time
it would be bestowal on the part
of our government when it is able
to bestow.