Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-02-15
CLAIM HARDING
IS OPPOSED To
BOND ISSUE To
FINANCE BONUS
President Also Said to Be
Against the Eight-Point
Tax Program, Or to Re-
storing Repealed TaXeS&
NO EXACT TIME WAS
FIXED FOR PASSAGE
Wants to Fulfill Promises to
the Men Without Disturb
ing the COuntry'S Finan-
CiaI Tranquility,

Washington, Feb. 14.--President
Harding thinks it Is impracticable
to raise by a bond issue at this time
a large sum of money to finance
the soldiers bonus, it was stated to-
day at the White House and he is
unalterably opposed to the suggest
ed eight point tax program or to a
return to any of the taxes that have
been repealed.
The executive was represented
as being favorably disposed toward
the bonus legislation. ahd it was
emphasized that when he appeared
before the senate last July to ask
that its enactment be deferred he
had not taken a position of hostil-
ity. 1t also was stated that prom
ises made by republicans in the
1920 primaries had not been lost
sight Of, but it was pointed out that
no exact time had been fixed for
the passage of an adjusted COM
pensation bill.
Attitude OF Executive.
The attitude of the executive, it
was added, had to be that of find
ing a sane and defensible condition
Of the fulfillmenl of the promises
made on the one hand. and having
regard for restored stability on the
other.
Holding that there was a ques-
ton whether there was the same
sweeping determination at this
time that there was during the
wars responsibility. when the gov
ernment could have raised almost
any sum the president was said to
doubt the possibility of obtaining
now through bond issue the sum
required for the soldiers bonus
without an advance in interest
rates and the disturbing Of the
financial tranquility of the country.
In this connection attention was
again called that in the next fifteen
months the government must re-
fund some six and a half billions
of dollars Of plecges in the shape
of Victory notes and certificates of
Indebtedness. Secretary Mellon
and other fiscal officers Of the
government have taken the posi-
tion that these refunding opera
tions would be handicapped by any
additional issue Of bonds or short
time notes in connection with the
soldier bonus.
It was said at the White House
that the presidents views as to the
bonus would be transmitted in
writing to the chairman of the sem
ate and house committees dealing
with the legislation. The majority
members of these committees met
this afternoon with the expectation
that the executives s letter might he
ready for them but after a session
of an hour members said the COM
munication was expected tomor-
row.
Presidents Proposition.
The presidents proposition as
outlined at the White House was
given informally to the committee
members who withheld comment
pending receipt Of the official let
ter. Some of them did say. how
ever, that on the basis OF the in
informal information they had, the
bonus would be rested just where it
did before the house ways and
means subcommittee drew up the
tentative eight point tax suggestion.
Mr.. Harding's objection to the
suggested bond issue and tax pro-
posals was regarded in some quar-
ters as prcsaging a delay in the
enactment Of the bonus legislation
until subsequent session of con-
gress, but so far as was ascertained
this was not the Interpretation at
the capitol.
Bill Will BE Passed.
Chairman Fordney of the house
ways and means committee said
the bonus bill would be passed and
added that it was his judgment that
the first of the cash payments
would be made available to the