The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1921-07-13

WASHINGTON. July l3.-FOlloWlns
is the text, in part, of President Hard
ing's address before the senate yesterday
afternoon, asking that action on the sol
fdier bonus bill be, at least temporarily,
postponed. During the first part of his
address he referred to the financial prac-
tees exercised by the government during
! the stress of the World war and said:
We borrowed and Ioaned-individuals
to the nation and yhe government to
other governments, and to those who
served the nation.
1T was relatively easy then, because
aftermath we face the order of reason
rather than act amid the passions of
war, and our own land and the world are
facing problems never solved before,
There can be no solution unless we face
the grim truths.
Staggering Conditions.
After survey of more than four
| months, contemplating conditions which
would stagger all of us were it not for
our abiding faith in America. | am fully
persuaded that three things are essential
to the very beginning of the restored or
! der Of things. These are the revision. in
| Guiding reduction. of our international
| taxation, the refunding of our war debt,
and the adjustment of our foreign loans.
| It is vitally necessary to settle these
| problems before adding to our treasury
any such burden as is contemplated in the
pending bill
Business Cannot Revive.
1T is unthinkable to expect a business
pn1 M hn ion, Of n moi
NAL ways of peace while maintaining the
excessive taxes of war. 1t is quite as
unthinkable to reduce our tax burdens
while committing our treasury to an addl-
tiOnal obligation. The precise figures no
one can give.
IF it is cOnceivably true that only 200
millions a year viii be drawn annually
from the treasury in the few years imme-
diately before rs, the best way is too in
consequential to be Of zeal value to the
nations defenders; and if the exercise of
the option should call for cash running
into billions, the depression in finance |
and industry would be 50 marked that |
vastly more harm than good would at |
tend.
Our government must undertake no
obligations which it does not intend to |
meet. No government fiat viii pay our
bills. The exchanges of the world testify .
today to that erroneous theory. We may
rely on the sacrifice of patriotism in war,
but today we face markets and the effects
of supply and demand. and the memorable
laws of credits in time of peace.
Rate of Interest.
AT the very moment we are obliged To
pay 5A per cent interest for government
short time loans to care for our floating
Indebtedness, rate on government Dor
rowing. in spite of tax exemption which
ought TO prevail in private transactions
for the normal interest charged in financ-
ing our industry and commerce. Definite
obligations amounting to seven and a
half billion: war savings certificates. and
certificates covering floating Indebtedness
are to mature in the two years imme-
diateiy following and the Over-burdening
Of the treasury now means positive disaS-
ter in the years Immediately before us.
AlereSt prudence calls out in warning
What Has Been Accomplished.
In view of some of the things which
have been said. and very carelessly said
perhaps | ought to report officially some
Of the things which have been done In
the department of war risk insurance
there have been filed up to July 4. 1921.
compensation and insurance claims num-
berlng Sl3,442. OF these 747 1856 have
been adJudicated, at an expense of S471.-
There were 100000 eases pending
when the war risk department was reor-
saniZed late in April last year. and the
number of claims has been reduced by
l34,"44. All work in this department
viii be current by the 21st of this July
That Is to say. all action which the bu-
feau may take on. given case win be
current though new claims are being filed
1t the rate of 700 per day Is
hedfcaF Examinations. /
There have been requested S76.143
medical examinations and less than 1900
awaiting action. Up to July Z there
nave been 26.237 disabled soldiers hespi. !
-aiIZed. and in government controlled hos
DitalS today there are 5000 available beds
without occupants You are already
aware of the progress made toward the
construction of additional government hos
JltalS, not because We are meeting all
demands but to better meet them and the |
better to specialize those who come under
'ur care. .
Government Insurance
There have been paid out in allotment
ma allowances the sum of S57S. 49,. 65S :
'hu nearly -FOUR billions of government in
urance is in force
In vocational training and rehabilita-
ION of disabled soldiers there have been
enrolled to date 1G7 500 men. Today
mere are 1882 men who are training
win pay, at the maximum cost of $3.50
Der month: S.2S1 training without paw.
'ut at tuition and supply outlay of $50
ger month. -Four thousand disabled men
nave completed their training and have
been returned to gainfuI positions. These
armed an average Of 81 ,051 per year be-
ore entering the army and are earning
oday In spite Of their war disability wage
II salary levels an average of 81, $50 per
rear. p
$4,000 Disabled Men.
1T is an interesting revelation and
lhe achievement, attended by both abuses