Arizona republican., 1921-07-13
HARDING SAYS PASSAGE .0F MEASURE AT THIS TIME
 E ENDANGERS FINANCIAL
 STABILITY OF COUNTRY
Text Of Harding's
 Bonus Bill Message

Following is the full text of Presi- dent Harding's address to the senate: Mir. President, and gentlemen of the
 senate.
 There has come to my attention the pending unfinished business before the senate. and it is an imperative duty to convey to you the probable effect of the passage at this time of the proposed act. providing for ad- justed compensation to our service men in the world war. If this meas ure could be made effective at the present time without disaster to the nations finances and without hin- drance to imperative readjustment of our taxes it would present an en- tirely different question than that which is before you. In personal as well as public manner, which ought to be plight of good faith, have commended the policy of gener- ous treatment of the nations defend CTS. not as a part of any contract. not as the payment of a debt which is owing, but as a mark of the na- tion's gratitude. Every obligation is to the disabled and dependent. In such reference as has been made to general compensation there has been reservation as to the earliest con sistant time for such action if 1t is taken. Even without such reserva- tion, however, a modified view would be wholly justifiable at the present moment. because the enactment oi the compensation bill in the midst of the struggle for readjustment and restoration would hinder every effort and greatly imperil the financial stability of our country. More. this z<.r~ r[F F<<- <<< F. rx- gratuities will imperil our capacity to discharge our first obligations tc those we must not fail to aid
 am addressing the senate di- rectly because the problem is imme- diafely yours. as your unfinished bus iness. but the executive branch of thu government owes 1t to both house of congress and to the country frank ly to state the difficulties we dail, are called upon to meet. and the add ed peril this measure would bring.
 Three Vital Problems
 Our land has it's share of the fl nancial chaos and the industrial de pression of the world. We little heed limits of expenditure during the wal because We could not stop to coun the cost. Our one thought then wa. the winning of the war and the sur vival of the nation. We borrowed and iosned-individual to the natior and government, to other governments and to those who served the nation. with little though of set tiement. It was relatively easy then because national life was at stake In the sober aftermath we face ths order of reason. rather than act amit the passions of war and our own lanc and the world are facing problem. never solved before. There can bs no solution unless we face the grin truths and seek to solve them in reso- lute devotion to duty. After a surve, of more than four months. contem- plating conditions which would stag ger all of us were it not for oul abiding faith in America. I am full, persuaded that three things are es sential to the very beginning of th' restored order of things. These ar' the revision, including reduction O our internal taxation, the refundins of our war debt and the adjustmen of our foreign loans. It is yitall, necessary to settle these problem before adding to our treasury an. such burden as is contemplated in tn pending bill.
 It is unthinkable to expect a busi ness revival and the resumption O the normal ways of peace while main taining the excessive taxes of WAT. ] is quite as unthinl<able to reduce ou tax burdens while committing ou treasury to an additional obligation which ranges from three to five mil lions of dollars. The precise figure no one can give. If 1t is conceivabi (Continued on page 2)