The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1922-02-18
WHO WILL PAY Z
THE BONUS?
Harding and Company Want
to Obey Demand Of Soldiers
But Fear the Taxpayers

Washington. Feb 14.-Prcsident
harding thinks it is ilnpracticable
! TO raise by q bond issue at this time
q large sum Of money TO finance the
; soldiers bonus. it was stated today
at the White House. and he is unal-
! tcrably opposed TO the sr=g 5sted
eight point tax program or ~ j re-
turn to any OF the taxes that have
I been repealed.
The executive was represented
rs being tavorab!y disposed toward
the bonus legislation and it was
emphasized that when he appeared
! before the senate last July TO ask
! that its enactment be deferred he
had not taken position Of hostil-
: ~. 1t aiso was stated that prom
Uses made by Republicans in the
| 1929 primaries had not been lost
sight Of but it was pointed out that
80 exact time had been fixed for
the passage Of an adjusted COM
pensation bill.
The attitude Of the executive. It
, was added, has to be that of finding
! a sane condition OF the fulfiilment
! of the promise made on the one
hand and having regard for restor-
ed 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 wars re-
sponsibility when the government
could have raised almost any
sum. the president was said TO
doubt the possibility Of obtaining
row through bond issue the sum
Required for the soldiers bonus
without an advance in interest
rates and the disturbing Of the IL
nancial tranquility Of the country
In this connection attention
again was called that in the next
10 months the government must
refund some $5.500,000.000 OF
rledges in the shape Of Victory
notes and certificates Of indebted
ness. Secretary Mellon and other
fiscal officers Of the governme'
have taken the position that these
refunding operations would be-
Handicapped by any additional IS
sue Of bonds or short time notes IN
connection with the bonus.
1t was said at the White House
! that the presidents views as to the
bonus would be transmit ed IN
writing 20 tie clloir:nen OF the SEN
ate and. house committees dealinS
with the legislation. The majority
members Of those committees met
this afternoon. with the expectation
that the executives letter might be
eady for them but after a session
LOT an hour members said the COM
F: munication was expected tomorrow.
! Waiting for Letter.
The presidents position as out
lined ut the White House was given
informally TO the committee mem
ibers who Withheld comment pend
! iny receipt Of the official letter.
Some OF them cid say, however:
that on the basis Of the informal
information the question Of how the
bonus should be financed rested
lust where it did when the com.
:; n,ittce drew up the tentative eiSn1
point tax suggestion.
Mr.. Hardings objection % tne
suggested bond issue and tax pro-
irosals was regarded in some guar
ters as presagins a delay in the en-
jactment Of the bonus lesisiatnoh
until a subsequent session OF con-
crass. but as far as vas ascertain
ed this was not the interpretation
at the capitol.
Chairman Fordney Of the house
vavs and means committee saia
the bonus bill would be passed q.
this session and added that II was
his Judgment that the first OF tne
cash payments would be maue
available to the former service iiic.'
l,v next October l..