The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1921-07-22
SOLDIER BONUS
BILL IN SUSPENSE
Secretary of Treasury Says to Pass 1t
Now Will Bring Business Chaos.
Harding Asks Postponement.

Soldier Bonus Bill penang DeIOre
Congress. Sometime in May, 1920,
q similar bill passed the lower house
of Congress and strenuous efforts
were made by the Republican malori-
ty to rush the bill through the Sem
ate,-only the lack of time prevented
the accomplishment of their purpose
in order to embarrass President
Wilson into signing or vetoing it. The
Republicans left that it was a case of
damned if you if you do and damned
if you don't. But now, their own
pSrty's President finds himself in the
hole into which they wished Wilson.
A Soldiers Bonus bill passed the
lower house of the present Congress
and was in fair way to get through
the Senate when the Secretary OF the
Treasury interposed a little saying
that the passage of the bill would
still further unstabilize the finances
of the country and would almost
bring about business chaos. The
Secretary's> letter was followed. by
an appeal in the form of an address
by President Harding to the Senate
to recommit the bill and hold it in
definitely. No one seems prepared
to say what obligation the bill car
ries, but it is estimated from three to
five billions, however, it is not all to
be paid at once, but there are sever
al options, and evidently much of
what is proposed to be paid would
run through a period of 40 years.
With this war, like all others, there
were those who were stealing while
their fellows were serving the flag;
there were those whose hearts (if
they have any) were set on making
more dollars while these fellows were
fighting the enemy. The fact that
such people were here could not be
laid at the door of those in authority
and who we're prosecuting the war.
The hardest argument to answer
in favor of the bonus bill is that
there were thousands back home get
ting rich, piling upon more millions,
while the boys were overseas or In
camps getting ready to go over, Civ
ing their very lives for their country.
If these profteers, if those who made
millions, could be made to pay the
bonus for the soldiers, there could
be no question about passing the bill
at once, but that could not be done
it would fall upon everybody alike.
In the discussion of the Bonus Bill
in the Senate figures were submitted
from the Treasury DEPARTMENT. show
ing that during this country's partici-
patton in the war, there were $4,000
men who profteered and robbed
enough to add their names to the
already big list of milionaires in
this country. When the war first
started, 1914, there were but SO men
in the United States whose annual
income was over $1,0OO,0OO, while in
1919, the Treasury's record shows
there were 248-an increase of S00So
The Treasury's record show that
in 1917, the corporations then in ex-
istence were capitalized at $25,OOO,-
100000, but today, after paying
handsome dividends, these same cor
porations have passed $4,000, ,000,-
900 to their surplus account, and
besides this, new corporations to the
tune Of s5.000,0 100000 have been
organized.
Here are the exact figures submit
ted:
"In other words, in spite of the
large dividends, the capitalization of
the corporations in the United States
has increased in less than three years
from $25, ,00O,000,0O0 to the enorm-
Gus sum Of $4,000, 100000, and this
increase Of SIS, 1000, 900, 0,00Qis due en-
tirely to the war. Last year one in
dividual in the United States re-
ported. an income Of $4,000, 900.
There are two men in the United
States whose income last year was
% over $16,000,000 each. There are
five men in the United States whose
income last year was over S., 900 200
q piece. In 1914 there were 60 men
in the United States whose annual
incomes were over $1,OOO,OO0 each.
Last year there were 248 men in the
United States whose incomes were
over $1,000,000 each. In 1914 there
were ia men in the United States
whose incomes were between $780,
900 and $1,000,000. Last year there
were 405 men in the United States
whose incomes reached this immense
amount. In 1914 there were LAT
men in the United States whose in
comes were between 100000 and
100000. Today there are 400 mer
who enjoy that large income. Ir
1914 there were 130 men whose in.
comes exceeded $250,00O and were
under 100000. Now there are $50
men who enjoy that income. In 1914
there were 233 men with an income
between 100000 and $250,000. Nov
there are $50 men who enjoy thai
income. In 1914 there were, 40t
men whose incomes exceeded $3.50,
600 and were under 100000. Nov
there are 1900 men who enjoy thai
income"
Figures submitted by Senator
Spencer of Missouri, which were pre-
pared by authentic authorities put.
the total cost of the war to thu
country sEo Up to 5ss Js5y sIg IN 4 1921 at th'
Data only recently published b!
the Washington Post, which was un
doubtedly furnished by Treasury OF
ess snow sns s1ss for Il the Iqhnne sca @
ending June 80, "Was $5,115, 1927,
coo ooonrd;rot IN the Treasury De