The New York herald., 1922-08-31

And since that time 1t has increased
until this year we are preparing 10
expend siSs,o01,000
$50 | say that the objection which
the President raised at that time, that
it would embarrass US not only IN re-
construction and rehabilitation OF the
Industrial and financial condition OF the
country has not been taken care o.
but the other proposition of embar-
RAISING US in taking care of the soldier
Is more accentuated. than 1t was at the
time the President spoke.
THE second objection to which the
President referred was as follows.
Even were there not the threat
ened paralysis of our treasury, with Its
fatal reflexes on all our activities,
which concern our prosperity. would IT
not be better to await the settlement
OF our foreign loans? At such time
ii would be bestowal on the part OF
our Government when 1t Is able TO
bestow?
There has been no settlement or ad-
iustment OF the foreign loans.
MIR. President, ] have not the time,
under the twentyi minute rule, but 1
am going to present TO the Senator from
North Carolina and to the Senate later
the actual figures. which viii disclose
that not only have we failed to reduce
our tax burden, either In the munici-
palities or the States or the nation,
but that we are daily adding TO those
tax burdens, and that instead OF our
being In a better position and a better
condition 10 meet this burden than we
were on the twelfth OF July. 1921, the
actual facts. as the taxpayer has to
come in contact with them, show that
we are ia a less desirable position to
pay them than we were In 1927, because
we have been doing as We have been
doing with reference 10 this matter:
we have been utterly disregardful OF
the treasury of the United States, and
the Governors have been equally dis
regardful OF the treasures of the re-
spective States.
Again the President said;
"a modest offering to the millions OF
service men IL a poor palliative to more
millions who may be out OF employment.
Stabilized finance and well established
confidence are most essential TO restore
industry and commerce.
Later In his letter To Mr.. Fordney he
had this to soy on February i6. 1929:
MY best judgment is that any COM
pcnsation legislation enacted AT this time
ought TO carry with Il provisions for
raising the needed revenue
This bill utterly nouts the Presidents
suggestion IN that regard. IL Is well
known. II the public prints be correct.
that he so rega rds Il, There has been
no attempt IN this bill 10 meet this sug-
ccstion Of ne President. and the Senate
viii unheafattngly vote down am at
tempt to meet Ii. because We are wrig
Cling here between the taxpayer and the
bonus men. seeking 70 pay the one with
out offending the other. The Senate
would not for single moment enter
tain any proposition 10 put a single dol
lar additional tax upon the taxpayers
Of this country at this time
senator News Address.
Senator New IN advocating the adop-
tion Of tax to pay the bonus bill on
cash basis said IN part:
MIR President. | shall also vote for
the Bursum amendment because | think
II Is vast imrrovement over the Nc
Cumber bill. which IL now before this
body. ] voted for the McNary amend
ment. and ! voted for II IN good faith.
because / believe that amendment pro-
vides an opportunity for the soldier 20
got something ultimately that will be
worth his while, whereas the MeCumber
bill. IN my Judgment. gives him some
thing that is entirely inadequate, that
does him no good whatever. now or
later.
4 am stifi OF the opinion that the