Grand Forks herald., 1922-03-04

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SATURDAY EVENING MARCH 4, 1922
EVENTS OF WEEK
After having inspected many methods proposed
Tor the raising Of fund out of which a soldiers
bonus may be paid and rejecting each plan as in
spected the Republican ma jority .of the ways and
neans subcommittee has formulated plan which
Us encountering less opposition than any Of pre-
decessors and which appears to stand some chance
fof being adopted. The details of any of the plans
proposed are more or less involved, but the essen
tla features OF the present plan the issuance OF
certificates maturing in 20 years instead of direct
payment iii cash. the provisions for borrowing ON
these certificates in the meantime from federal re-
serve banks and the provision for repayment by the
government if the loan is not satisfied by the bor-
rover after three years.
One feature which is thought likely to bring
support to this plan is that it will call for no cash
payments by the government at this time, and it is
held that by the time treasury payments called
for the plan can be financed without additional taxa
tlon. This does not that the government will
obtain the money out of the air, but that enough of
our present obligations will have been disposed of
to make it possible to for the bonus b., divert
ing to that purpose tax funds which are now ex-
pended in other directions. On this theory the
result will be the continuation of present taxation
;oyer longer period rather than the imposition Of
additional taxes at this time
AS to the ultimate cost, it is estimated that if
all service men should hold their certificates until
maturity and then draw cash, the payments would
amount to about four billion dollars From various
causes this is expected to be reduced by about
zone billion dollars There is no basis on which to
estimate the number Of those who will turn their
laaims into cash and those who will prefer one of
ttr"other methods of settlement.
Differing materially in it's origin, the Yap trea-
ty between the United States and Japan is never
theless considered substantially in the same class
with the treaties which came directly from the arms
conference hence aside from the interest which at
taehes to this treaty on its account its progress
has been watched closely as being indicative of the
reception which will be given the other agreements.
l he essence OF the Iap treaty is that the United
States assents to Japanese guardianship over the
island and Japan comedies to the United States full
cable rights-the of Japanese facilities as long
these adequate, and then the right to estab-
llsh independent stations.
The opponents OF the treaty mustered only a
handful of votes and the result is regarded fairly
indicative OF the ratification of all the pending trea-
ties, though on the iour-power treaty the vote is
one next to be considered, and it is expected that
the debate on it will occupy the greater part of the
senate's time during the next ten days
congress legislation providing for subsidies to
American shipping which will amount to about
S32o00,0O0 year, the necessary to be realized
by the diversion to this purpose of 10 per cent of
the customs duties.
One of the results of the armament reduction
agreed upon at the late conference is expected to
be abandonment of the Great Lakes naval training
establishment situated Chicago. During the
period more than 100 900 naval recruits passed
nd eta
es the station would have been retained for regular
training purposes. In anticipation Of the ratifca-
ton of the reduction treaty the administration has
already suspended large amount of naval work on
the eastern seaboard, and it is expected that
1.-THE only naval training station in the interior will
tbe closed
Out of the several cooperative grain market
ting movements naugurated in various parts of the
bcountry there has developed demand for further
Incorporation broader SCALE and this sentiment
tnow finds expression in movement started at a
general meeting at Denver the organization Of
Ecooperative marketing association of national scope
fin which state and other local associations shall be
represented. The new organization is to be known
las the American Wheat Growers Associated, and
detailed plans for its creation and operation
tbe presented to meeting in Kansas City on March
The outstanding feature in the field of foreign
politics just now is the cabinet crisis in Great Br
ID tain Premier Lloyd George has served notice or
the conservative element that unless he is given
satisfactory assurance Of the support Of the consev
atives to the coalition administration he will resign
the office Of premier on March 8. For some time il
has been apparent that the situation in Great Bri
tain was growing more critical The coalition
a formed during the war; and held together by tht
Il pressure Of war needs, has shown signs of disinte
grafton now that the conditions which gave it brit
q have disappeared The fact that the Irish question
has been disposed Of as issue demanding instan
attention has doubtless helped to relax the tension
The Liberals have been getting their forces togeth
er iii preparation for a vigorous onslaught on tn,
ref1iisrs position and the Conservatives havi