Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1921-07-20
PRESIDENT WARNS
BONUS BILL WOULD
OvERWHELM WORLD
HARDING ASKS CONGRESS NOT
TO PASS COMPENSATION MEAS
uRE AT THIS SESSION.
ADDED BILLIONS WOULD
THREATEN BANKRUPTCY
Executive Tells Senators That Redue-
tion Of Internal Taxation, Refund
ing of the War Debt and Adjust
ment of Foreign Loans Should Be
Accomplished First.


ment of Foreign Loans Should Be
Accomplished First.
Washington, July Is. - President
Harding conveyed a solemn warning
to congress that the condition OF the
nation will not permit the passage at
this time OF legislation granting adj
justment of compensation TO soldiers
who served in the World war.
For congress to pass contemplated
legislation now, the President warned.
would hinder every effort of reStora-
ton and greatly imperil the financial
stability of our country"
The President took his appeal per-
sOnally to the senate and delivered a
brief message in which he painted IN
anything but glowing colors the eco
nOmic and financial condition Of the
country today. lie pointed out that
the nation now is engaged in mighty
struggle toward restoration. and he
emphasized that this restoration can
only be brought about by careful
financing and reduced expenditures.
The Presidents message deals chief
ly with the bonus question and the ma
tons finances, but the President took
occasion To warn congress that there
ais much confessed disappointment
that so little progress has been made
in the readjustment and reduction Of
wartime taxes" and urged early ac-
cOmplishment of this.
Presidents Address.
The text of President Harding's
message to the senate in part was as
follows:
mir. President and Gentlemen of the
Senate:
There has come 10 my attention
the pending unfinished business before
the senate and il is an imperative
duty to convey to you rne probable eff
feet of the passage at this time of
the proposed act. providing for adjust
eel compensation TO our service men
in the World war. If this measure
could be made effective at the present
time without disaster to the nations
finances and without hindrance 10 inn
perative resdjustments of our taxes,
Il would present an entirely different
question than that which is before
you. In a personal, as we'll rs a pub
lie manner, which ought 10 be plight
of good faith, have commended the
policy of generous treatment of the ma
tons defenders. not as a part of any
contract, nor as the payment of debt
which is owing. but as a mark of the
nations gratitude. Every obligation
Is TO the disabled and dependent. In
such reference as has been made To
general compensation there has been
reservation as 10 the earliest consist
ent time for such action If 1t is taken.
Even without such reservation. how
ever. a modified view would be wholly
justlfiable at the present moment be-
cause the enactment of the cOmpenSa-
ton bin I'm the midst of the struggle
for readjustment and restoration
would hinder every effort and greatly
imperr the financial stability of our
country.
more, this menacing effort 10 ex-
pend billions In gratuties will inn
peril our capacityt to discharge our OBJ
legations to those we must not fail TO
aid.
II am addressing the senate directly,
because the problem is Immediately
yours, as your unfinished business. but
the executive branch of the govern
e rh
gress and to the country frankly to
state the difficulties we daily are
called upon to meet and the added
peril this measure would bring.
Had but One Thought.
"Our land has its share Of the inan-
clal chaos and the industrial depres-
sion of the world. We little Needed
the growth of indebtedness or the
limits of expenditure during the war.
because we could nOs stop to count the
cost. Our one thought then was the
winning of the war and the survival of
the nation. We borrowed and loaned
individuals 10 the nation and the
government to other governments. and
to those who served the nation-with
little thought of settlement.
1T was relatively easy then. be-
cause national life was nj stake. In
the sober 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 sOlu-
tion unless we face the grim truths
and seek to solve them In resOlute de-
vOtiOn 10 duty.
Three Problems Cited.
after a survey Of more than