Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-06-14
NJ CUMbER MEN
FOR BONUS Up
AGAINST SNAC
Nothing More Important
Than Measure Now Up
in Senate-President.
Plans for Considering
Compensation Are Yet
in Very Hazy Form.

Washington, June 13.-Senate repub
ican leaders who are opposed to the
plan of Chairman McCumber of the
finance committe to side track the tariff
bill for the soldiers bonus have the
support of President Harding. The
executive. it was stated officially Tues.
day at the White House, regards tariff
legislation as most important and
worthy of the undivided attention OF
the senate.
Plans for consideration of the bonus
still are very indefinite, but they may
take shape after the return here We'd
nesday of Senator Lodge of Mas
sachusetts, the republican leader, who
has been campaigning in his home state.
Desire Party Conference
Some leaders desire that party
conference pass upon the question of
the right Of way as between the two
bills, but should such a conference be
called Senator McCumber and other
proponents of the bonus are expected
to make fight against delaying senate
action on that measure until the tariff
bill has been disOpsed of.
Senator McCumber has given notice
that he will call up the bill in the near
future. He has not yet fixed upon a
definite date.
Some leaders said Tuesday there
was probability that the bill would be
called up the latter part of next week
or early in the week following, unless
an agreement was reached in party
conference to defer action
Meantime, subsequent proposals for
the amended house bonus bill are being
put forward. The latest was offered
Tuesday by Senator McCumber's coS
league, Senator Ladd, republican,
North Dakota.
Ladd for Cash Bonus
1t would provide for cash bonus
to the soldiers to be paid by the
issue of $2,5OOOO0 or less of legal
tender treasury notes, to be retired
over a period of 25 years out Of pro-
ceeds from special taxes on banks and
interest received from foreign indebt-
edness.
Senator Ladd's plan contemplates
tax on all banking institutions having
a capital stock of 100000 or more
equal to 80 per cent of the profits in
excess of II per cent and all other
taxes. Should these taxes and the in
fereSt on the foreign debt be inSuffic
lent. to pay the annual refunding in
stallments on the legal tender issued
to the veterans, the deficiency will be
made out of the federal treasury.
Would Take Back Surplus
Explaining his amendment. Senator
Ladd said in formal statement that
few would contend that in the light of
present economic conditions banks
should make profit greater than II
per cent. He argued that this plan
would cause no initiation of credits and
contended that in this manner the
soldiers could be paid at little expense
to the government. Characterizing the
certificate plan of the McCumber bill
as little more than a bread bill'' for
the veterans, Senator Ladd said they
had asked for meat and have been
given a stone"
The bonus got into senate discussion
Tuesday, Senator Kendrick, democrat.
Wyoming, delivering a prepared address
in favor of compensation and urging
that the Smith McNary reclamation bill
be attached to the bonus measure as
q land settlement option.