The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-08-29
SHALL THE RoNus PAssa

Julius H. Barnes, president of the
United States Chamber Of Commerce,
has issued an appeal to all members
of the organization over which he
presides. calling upon them to aid in
the defeat OF the pending soldier bo-
nus bill.
President Barnes's reasons for max
ing this appeal are set forth as fol-
lows:
The senate ponus bill neither au-
thorizes an appropriation, provides
any method for raising the revenue,
nor perfects any means for sinking
funds to meet the eventual liability.
Recognizing the danger to govern
ment finances in a cash disbursement,
it authorizes banks to advance loans
suits of which will be to sequester
cash in three-year frozen credits
which in the aggregate Will amount to
hundreds of millions of dollars In
flation of currency and credit must in
evitably follow. The bin contains land
settlement provisions which are
worthless in their application. AS a
basis for computing a bonus the SEN
ate finance committee took a civilian
wage compensation that as a whole
never existed during the period of the
war.
Altho the national debt increased
over 2,200 per cent as a result OF the
war, the senate finance committee
proposes at this time to addva maxi
mum of 50, 100000 to the finan-
cial burden OF the government. This
additional amount will increase the
liabilities of the government beyond
any point reached in the history of the
country.
Despite the fact that our estimated
deficit for the current fiscal year will
approach $500, 900. the bonus will
add, according TO reliable estimates,
$T7,0o0,000 in the year 1923; and sea-
100000 will be added to our annual
expenses of government in 1924, over
100000 in 1926. and $370,O00, 600
in 1926.
1t is proposed to load this new
financial burden upon the govern
ment largely thru certificates which
will mature in 1912. In 1888 the
fourth liberty loan of approximately
6.Soo, 0o0.0 600 natures In 1912 the
second liberty loan of $4,000, o0O, 900
is due. BY 1s47 the first liberty loan
of about s2,ooo,ooo.o0o must be
taken up.
This country. at q time when it is
beginning to respond TO a rigid appi-
cation OF commercial and govern
mental economies, and show signs OF
recovery from what has been one OF
the most intense financial shocks in
the history OF the world, will, under
the bonus proposal of the senate fl
to a financial burden, which must
necessarily continue If not enlarge a
system OF national taxation which has
been largely responsible for retarding
the nation in its endeavors to regain
its commercial supremacy.
The nation has already voted e.
$27o. 700. o00 cash bonus to all vet
Grams. so the present proposal is for
a second bonus and for the veterans
who live in the fifteen states which
have voted s22S.ooO,oo0 in bonuses,
the present bill If it passes will con-
stitute a third cash bonus to one-third
of our veteran army And this within
four years of the war.
The veterans bureau for the fiscal
year ending June so. 1879. spent $4S1,-
GOO. 900 for disabled veterans. 1t ex-
poets to spend $513, 100000 during the
current, fiscal year. 1t is estimated
that $1,000. 600 600 year will be re-
quired within a few years to care for
disabled and incapacitated veterans.