The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-01-08
Bill to Revive War Finance Cor
poration Passed BY Vote of
So to IS
DEMOCRATS AND
REPUBLICANS UNITED
Measure Will Be Taken Up in
House For Consideration at
Once

washington, Jan Veto By Pres
idens Wilson today of the farmers
RELIEF bill to revive the war finance
corporation was followed almost i'm
mediately by vote OF SO to 8 in the
senate To make the bill law despite
executive disapproval. The house will
take up the measure tomorrow. and
prsdictiors were general that ii
would duplicate the senate's action
and thus place the bill on the statute.
President Wilson In a lengthy veto
message declared he withheld his ap-
proval OF the bill because the war
finance corporation wls a war credit
agency. not desirable or needed tn
peace times. He said that II would
exert no beneficial influence on the
situation would raise false hopes
among the very people who would
expect most. and would be hurtful to
the natural and orderly processes of
business and finance
The legislation. the president also
said. would result In additional credit
burdens. and the government ne con-
tinued. should not be called upon
furtner TO finance private business at
public expense. Referring to wide
spread demand for adjustment Of
war agencies and removal Of gov
ernmental influence from business.
the president said he had sympathy
with this view" and added that "the
nation should resume its usual meth
ods." F'
Upon reading OF the veto message
IN the senate. Senator Underwood.
Alabama. Democratic leader. urged
Its Immediate consldera ton, for which
unanimous consent was secured by
Chairman Gronna OF the agriculture
committee. which reported the bill,
senator Underwood followed with the
only address made. declaring that
financial distress now was greater
than during the war and that he felt
conhdent OF wise administration of
the proposed law that would cause
mo undue strain ON the treasury"
On the senate roll call 20 Demo-
Gratis were Joined by "a Republicans
In overriding the veto.
Supporting the presidents opposi-
zion were two Democrats, Senators
Gerry. Rhode Island and Thomas,
Colorado. and three Republicans. Ell
kins and Sutherland. West Virginia,
and Keyes. New Hampshire. Senator
Gla<ss. Democrat, OF Virginia and
Edge. Republican, Now Jersey, voted
against overriding " e veto, but with
drew their votes on account OF having
pairs. Senator Penrose OF Pcnnsyl-
ania, Republican, was paired. but
announced that he would have voted
TO sustain the veto.
The presidents message also was
read In the house. Representative
Mondch. Wyoming. Republican lead
er, announced later that IL would be
taken up tomorrow at the opening OF
the house but without any definite
arrangements for n vote. Advocates
OF tho bill. however. expressed conf
dencc that the house also would vote
to enact the bill despite the veto.
The house passed the bill by q vote
OF 2l2 to 81. or much more than the
necessary two-thirds majority. Many
OF the negative votes were cast by
Republicans.
Before the presidents message
reached the senate today, Senator
Harrison, Democrat. Mississippi a
leading advocate OF the legislation.
criticised Secretary Houston, declar-
Ing that the treasury head. according
To newspaper reports. had advised
without indicating such opposition
when Mr.. Houston was before con-
gressional committees.
Senator Edge issued a statement
tonight. declaring that the presidents 3
arguments against the bill were "ab-
soiutely unanswcrable." by issuing
bonds the finance corporation. Sem
ator Edge said. would adversely af-
fect the present financial and eco
pomic situation without any direct
resultant good to produccrs.'