The herald and news. [volume] (Newberry S.C.) 1903-1937, 1922-07-25

fiscal year had attained staggering
proportions of four billions of dol
lars. The present outlook would in
dicate deficit of at least one billion
dollars in the federal treasury for
this year alone. If these enormous
expenditures continued, taxes would
have to be raised again and yet
again. Some check must be made
on this vast orgy Of spending or the
country would be- bankrupt.
tViy;diy portraying the present un-
settled financial condition of the
country, Mr.. Dominick hammered
home with startling force the fact
that the ultimate consumer had to
pay these crushing taxes.
"You may say" he remarked, Il
do not have to pay any taxes into
the federal treasury because | do not
make a salary Of $4,000 j year and
hence do not have to pay an in
come tax. My friends, you who
think that have never been 50 badly
fooled in your lives. Every time
you buy j package Of cigarettes;
every time you buy cigar; yea,
every timA you st down to a meal
cooked in your own home you are
paying tax to the federal govern
.ment"
Having shown the extent of the
country's indebtedness, and having
pointed out the fact that the present
bonus bill, if passed, would mean an
additional tax Of from four to six
billions Of dollars, Mr.. Dominick pro-
ceeded to demonstrate how absurdly
in adequate, the present bill is from
the standpoint oe the cX-5erv;cc men.
The present bonus bill provides hat
every man shall receive one dollar
for each days service in The United
States and one dollar and twenty-five
ccr'.s for each days service abroad,
with the further provision, however,
that no man shall reeve 4 sum
greater than S625, no matter how
long - was in the arn;y. Fucther-
mere, it is set oat iii ;.he bill that 70
man shall receive compensation for
the first sixty days OF MS service, n
asmuch as he has already been paid
a sixty dollar bonus.
Taking concrete example, ne ex-
plained how the DILL would effect a
man who was in the service one year.
He would receive compnsation at the
rate Of one dollar for each days SER
vice after deducting the sixty dollar
bonus; in other words $500 less $50
or sum of $500.
"Would he receive this in cash.
Oh. no. He would be handed 4 hand
somely engraved certificate which
stated that the United States would
pay him three hundred dollar At the
end of twenty years"
The veterans of the World war
who has been expecting cash corus
will receive piece Of paper wh.ch ne
will have to hold Cor twenty years to
realize the full value Of his cartifi-
cate. Those mem oers Of congress
who drew up the bill and voted for
its passage knew full well, however.
that The veterans would no. stand for
such an outrageous and utterly alb
surd piece of legislation; and hence
they put joker in the bill :"hich al
lows the eX-service man 70 take his
certificate to a bank, md If h" can
find a bank that will handle it, he can
borrow $3.50 upon it. The man who
has served his country for one entire
year receives a certificate for only
$500 upon which he can borrow only
$3.50, provided he can find a bank
anywhere which will let him have it.
The law does not force the banks to
accept the certificate. 1t merely al
lows the banks to do so; but what
bank wants to take paper it will
have to hold for twenty years.
> If the veteran can't borrow the
money he desires and Will lock up his
certificate in some safe place, when
he gets twenty years older and has
time to stop playing with his grand
children, and should happen to recall
the fact that he had such certif-
cate, he can turn it in to the United
States treasury and receive hi; $500
plus accrued interest. which will
amount to something like 5000. This
Is the mo1strous, perverted. insid-
;ous. and ill-starred legislation that
congress is trying to fo:t off on the
American public.
Mr.. Dominick requested that if his