Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1921-07-13
HARDING PROVES HIMSELF
TO BE A MAN OF COURAGE
His Soldiers Bonus Address Is a Bold
Protest Against Increasing the
Burden of Taxation

DRES1DENT HARDING'S address to
the Senate on the financial crisis con
fronting the Government is the ablcst and
trankeSt utterancc that has come from him
since he entered the White House.
It was more thnn request for n post
poncmcnt Of the proposed adjusted conpcn
sation for the soldiers The need for such
postpOnCment called forth the address, but
its heart was contained In n brief sentence
in which he named the three things essen
tal to n restored order. They are:
The rerision. including the reduction, Of
our internal iorGtion.
The rcfvnding Of our rdr debt;
And the adjustment of our foreign loans.
The President announced that if Congress
commits the country to an carly payment Of
adjusted compensation to tho soldiers it
will place an additional burden of from
50 900. 900, 600 to So. OOO. 900, 900 upon the
people.
This would mean increased taxes at
time when every consideration of prudence
demands that the taxes be reduced. The
Administration, in an effort to relieve the
country. is already at work on plans to
reduce the expenditures Of the current year
many millions below the appropriations.
1t is borrowing money at high rate Of
interest in order to meet its temporary
obligations. 1t will have to refund between
81. 900 OOO. 900 and $500. .OOO. 900 Of war
savings certificates and Liberty Bonds
within year or two. II additional Obli
cations are incurred to the extent required
to meet the burden of adjusted payment,
the interest rate to be paid on the refunded
bonds would be- 50 high as to add immensely
to the burdens Of taxation. 1t would take
from legitimate business the capital needed
to carry it on. and it would head the Gov
ernment directly toward a grave financial
disaster.
The President is right when he says that
''our greatest necessity is n return to the
normal ways Of peace activities. and that
"stabilized finance and we'll established
confidence are both essential to restored in
dustry end commerce.
Yet the Nation is prepared according to
the President to take care of the disabled
and dependent soldiers and to do so gem
erously. II already has paid ont more than
half n billion dollars to them, 1t has trained
men who were earning an average Of S1l00
a year before the war and has equipped
them So that they are now earning $1,000
a year,
But" says Mr. Harding. "no thought
ful person. possessed with all the facts, is
ready for added compensation for the
hoalthful, self reliant masses Of our great
- Il,
down which will bring its hardships to all
the citizens of the Republic
In these words he has placed the issue
fairly before Congress, and Congress can
not dodge it. The question is not one Of
dealing fairly with the soldiers. but it is one
ot burdcning the country with heavy obi-
cations Mt a time when it is staggering under
n load which is drag upon every lcgit-
mate business.
There is only one thing to do, and that
is TO postpone all further consideration Of
adjusted compensation for the able bodied
soldiers until the country has recovered
from the first effects Of the war. II is the
duty of the Government to relieve business
Of excessive taxation. This cannot be done
II it takes on new obligations and il cannot
be done if it has 10 refund the maturing
war debt at high rate Of interest.
As the President intimntcs, it is much
more important that something be done to
bring about the re employment of millions
out Of work.
The assumption Of courageous leadership
by the President in this crisis is heartening
to all broad minded Americans regardless Of
party He has risen to the occasion and
he has stated the case with such clarity and
precision that hc will have the moral force
of the whole country back of hin-a moral
force which ought TO stffcn the purposes Of
snv weak -kneed Congressman afraid to do
what they know to be right