St. Johns review. (Saint Johns, Or.) 1904-current, 1922-05-05
Gives His Opinion

Congressman G.. N. Macarthur
in a speech delivered in the
House Of Representatives March
%, 1922, in relation TO the Bonus
bill, pending before the House,
claims that conditions at present
are vastly different than those
existing two years ago and it is
his opinion that the American
people cannot stand the addition
nj taxes which will result from
the enactment Of this measure,
and as the country il now stag
gering under an enormous bur
den Of indebtedness, il only sig
nifes that with further taxation
in the immediate future would
mean more unemployment, more
industrial depression and disas-
trous economic disorders. He
claims that If the. pending bill
should become a law il will af-
ford only a small measure of f.
nancial relief TO the individual
eI.soldier who elects TO accept
the certificate option and borrow
on the same at bank, but that
the sum total Of the money that
the Treasury Department must
raise TO redeem these hypothecat-
ed certificates on October LIST,
1925, will, according TO reliable
estimates, amount 10 $3.50, 600, 900
and the immediate cash payment
and expenses Of administration
will amount 10 not less than $50.
100000 additional. The eventual
cost of the legislation 10 the
taxpayers of this country will
not be less than $4,000, 900. 900.
which is one-iifth Of the national
debt. AS Congress has already
appropriated more than ~ 500
100000 for the disabled and in.
firm soldiers, and has done so
whole heartedly and ungrudging.
ly, he believes that Congress il
fulfilling every obligation in this
respect, but ventures 10 say that
the country does not look with
favor upon the pending measure.
He claims that the increase in
taxation national, state aud 10.
cal-has reached such alarming
proportions that the people in
every section of the country are
demanding rctrcnchment along
all lines.
Mr.. Macarthur contends that
every dollar tied up in such ccr.
tiiicates withholds dollar from
the channels of business, indus
try and agriculture, where cspc.
cially at this time money IL bad.
ly needed. That the measure il
faulty because IL does not pro.
vide a sinking fund or amortila
ton plan for the redemption of
the adjusted service certificate
in 1925. This, consequently,
means that the necessary funds
must be raised by additional tax
alton, and the burden will natur
ally fall on the backs and stom. |
achs Of the consumer. His con.
tention is that the only proper
alternative il a postponcmcnt of |
the measure in accordance with |
the Presidents i suggestion, until |
the country is in a more normal
financial condition and the com
trys indebtedness has been re-
duced materially. This country
N now staggering under a debt of
nearly S25,000,0 900, 900 and as
money does not grow ON trees
and the wealth Of the country is
not increased by printing money, Il
II would be best for all concerned |
that this measure for the present
should be either amended or
postponed until conditions pre-
sent themselves that will warrant /
a real bonus for the ex-Soldier.
During Mr.. McArthur's terms in
Congress he said he has never
failed 10 support any measure in
behalf Of AN eX-sOldier, but be
lieves that at this time the bonus II
bill now pending will result in