The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1922-09-20


Harding vetoed the soldiers bonus
bill yesterday, inform ng Congress. In
a written message, that While he
was in accord with the ayowed
purpose" of the measure, he did not
subscribe to its provisions.
The executives action was re-
garded generally In Washington as
making impossible a bonus for the
World war veterans, at least for
some time to come, as it appeared
to be almost certain that the veto
would be sustained by the Senate
Mr.. Harding set forth a number OF
reasons for returning the bill to the
House without his approval These
included
Failure OF Congress to provide a
means OF financing.
That inevitably the bonus would
mean increased taxation.
That the legislation would wipe out
everything thus far accomplished to
reduce government expenditures
wherever possible.
That peace bestowal on the ex-
service men was "a peryersion Of
public funds" and suggested that
future defense is to be inspired by
compensation rather than conscious.
ness on duty to flag and country
That to add one-sixth OF the total
sum OF the public debt for distribu-
tlon among less than 5000, 900 of no.
100000 people would undermine con.
fdence on which the nations credit
was builded and establish the prece-
dent of distributing public funds
whenever the proposal and the num-
bers affected make K seem politically
appealing to do so.
That the O.000 600 900 OF matur-
ing public debt in the next six years
would be difficult to meet without
adding the complication Of added Dor
rowings on account of a bonus,
That the adjusted service oertif-
cate plan OF payment, with its bank
and government loan provisions, was
little less than certified inability
Of the government to pay and invited
"a practice Of sacrihcial barter by
the veterans.
That the bonus would not diminish
the later obligation in the way oi
pensions to the World war veterans.
Asserting that this obligation would
cost more billions than venture to
suggest" the President declared that
"a national financial policy today is
necessary to make the nation ready
for the expenditure which is certain
to be required in the coming years. -
Mr.. Harding also called attention
to the sums now being expended for
the care of the diseased, disabled or
dependent and asserted that the total
cost OF this work, with insurance
liability added probably would ex-
coed $25,OOO 100000
Only once did the President refer
to the interest on the foreign de +
out of which proponents OF the bon j.
have contended it would be paid He
told Congress that the government
was facing a deficit of $650,00O,0OO
during the current fiscal year and a
further deficit for the year succeed
ing, "even after counting upon all In.
terest collections on foreign indebt'
edness which the government Is like,
ly to receive.
AS to the immediate and ultimate
cost of the bonus, Mr., Harding said
this was not definitely known. Treas
ury estimates, based on what seemed
the most likely exercise OF the op-
tions, he continued, figured the direct
cost at $795,0000 600 for the first four
years and total cost in excess OF
$4,000, 100000. He added that no es-
innate of "the largest indirect cost
ever had been made.
The veto message was transmitted
to the House by a. White House mes
senger and its read ng by clerk was
begun seven minutes after its deliy-
cry at $40 p, m. There was a full at
tendance of members, many of whom
had returned to the Capitol to vote
on the question Of overriding the
veto.
* Although a two-thirds majority Is
necessary to override veto, friends
of the bonus declared far more than
this would be obtained in the House
Further informal canvasses of the
Senate membership were said to
have disclosed lineup of "a OF
more than the one-third necessary to
sustain the veto. Two other senators
were counted as doubtful, The expec
tation was that about 15 senators
favorable to the bonus would be alb
sent with only three or four of the
opponents away,
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