Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-02-09
3 NEW WAYS TO
RAISE BONUS
ARE PROPOSED
Representative FOrdney Has
Agreed to Support
Measure.
Special to Indiana Daily Times
and Philad elnhia Pnhlic IRdger

Special to Indiana Daily Times
and Philadelphia Public Ledger.
WASHINGTON, Feb. 9--Men close to
Representative Fordney of the House
Ways and Means Committee have learned
he has decided to give his support, as
chairman Of the mmittee which will
frame the soldier mus" measure, to at
least three methods " raising the money.
They are:
A tax of 1 per cent on stock and bond
transactions on the exchange, levy Of
one half Of 1 per cent on real estate
transfers, and q 8 cents first class post
age rate.
1t was said Chairman Fordney virtually
had abandoned a number Of other means
OF financing the bonus notably the
sale in this country Of foreign govern
ment bonds underwritten by the United
States Government.
SALES TAX
IDEA UNPOPULAR
Republican leaders were confident in
their predictions the FOR sales tax
would not be brought by the com
mittee, when it reports the measure in a
week or so. They assert members of the
committee believe the sales tax is too
unpopular to gain even the overwhelming
support in the House that has been
promised almost any sort Of bonus"
measure the committee decides to report.
Friends Of the sales tax are planning
10 bring it up on the floor, however, It
was said.
Within the past week leaders have been
told of a new plan for aloting the
bonus" framed under the guidance of
Secretary Hoover, who believes it can be
administered without the bad results on
reviving business forecast if any Of the
present plans pass. The Hoover program
calls for an insurance bonus exclusively
a wide protection for the veteran against
unemployment, accidents and illness. death
insurance, and covers a s well almost every
conceivable disaster that could befall the
ex-soldler. The plan would eliminate the
cash bonus"
SECRETARY HOOVER's
PLAN TOO COMPLICATED.
The Hoover plan was in the writing
three months ago, Congressional leaders
learned. At that time q number of
prominent Republicans in the House
were informed Of the idea, and told it
would be sent 10 the White House. Ii
was said, however, that no attempt had
beeu made by the members who consider
supporting the plan to claim for it the
Presidents stamp Of approval.
Already it has met the argument of
being too complicated, as well as the
insistence of a number OF members OF
the committee that the veterans should
have cash bonus" if they want It.
Private insurance experts who have
been questioned on the Hoover plan have
estimated its capital cosc at 5000
0O0O, 0O0O They believe the first years
appropriation would not have to bC
much more than S10000O,OO0 with the
necessity for slightly increased appro
DriatiOQS each wear the eX-S0ldlers
grow older.
The committee, in executive session
was divided into two subcommittee, one
to frame the administrative features 0.
the bonus" bill and the other to con
tinue the body's search for methods OF
raising the money that will place as small
a burden on the taxpayer as possible
Chairman Fordney estimates the l pei
cent tax on stock and bond transactions
would produce $4,000, 600; the oneh hall
of l per cetn on real estate transfers
$50 1000, 600; and the Scent postage rate
$40 900, a total of $40, 000090.-Copy-
right, 1922, by Public Ledger Company