The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1922-03-29
WILL PASS
SOME BONUS BILL
May Entirely Rewrite Meas
ure Recently Passed
By House
PROMPT ACTION
IN THE MATTER
Senators on Both Sides Want Dispute
Out of WAY - Will Finance Bonus
by Sale of Treasury Certificates -
Attitude of President Uncertain.
by DAVID LAWRENCE
Especial Dispatch to The Reformer)
Copyright 1922.

IOpNflSnt H.
WASHINGTON, March 29.-The sol
der bonus bill will be passed by the sen
ate. Those who expect it to be shelyed
in the upper house will be disappointed
The measure, which already has passed
the house. may be changed or even re-
written. but a bonus bill will go through.
1t will not be buried in committee or de-
Iayed on the calendar.
The authority for the foregoing predic-
ton is Senator MediIl Mccormick, OF Hi
nois a member of the Republican steering
committee and administration senator,
and very good judge of senatorial sen
timent. Like good many other senator's
Mr.. Mccormick has kept quiet about the
bonus thus far, but he says his silence
and that of his colleagues must not be
misconstrued.
How will the. money be raisedE' he
was asked. =
"Bv the sale of treasury certificates,
he said. land there is ample authority on
the statute books today to raise the sum
needed We authorized not long ago the
issuance of up to S10.oOo,0oo,0oO OF
short term certificates and only S5,uoo'-
100000 have been issued.
tional certifcates?' was the next inquiry.
| Americans Ready to Invest.
.'Certainly-why in the last year APP
| proximately S750,O00000 has been in
/ vested by Americans in foreign bonds.
| Also about 81 .0000O0.0O0 has been ab-
sorbed in municipal tax exempt bonds
and nobody knows how much more. ASK
the bond houses. They will tell YOU they
can't nut issues the market taSJ
| enough to meet the demands of investors.
Also notice the splendid way In which
the country has responded To the refund
ing plans of the treasury. Here we are
with the Victory bonds refunded III large
part long before the maturity date: arp
convinced that the country would never
feel an issue of short-term treasury cGr-
titcates sufficient to tide Us over-Say
for two to five years-unul the British
are able to resume payment to us on the
war debt"
Mr. Mccormick did not attempt to pre-
diet what President Harding would do
with the bin if it were passed by both
houses He is not as sure of veto as
/ are some of his colleagues. though 1t Is
! evident that he like the others, Is count
4 ing upon a rewrttenhbonus bill. hIAe HIS
I uois senator declares the opposition to
/ the bonus will not succeed in dilatory
tactics in fact, he says those who are
against the measure are AZ eager to have
il brought up and voted upon and gotten
out of the way as are the proponents OF
the bill He seems to think the bonus
ought not to be permitted TO clog the
legislative channels and prevent other
legislation from being enacted. especially
in this. a campaign year.
Afraid of Open Opposition.
Senator Mccormick guages correctly
the sentiment of the senate if the bonus
bill comes to vote. For. as was proved
in the house the number who finally OPP
posed the measure dwindled. There
would seem to be a majority who would
shelye the measure if they could do 81
without a record vote. but the senators
who are up for reelection this year are
bound to pursue aggressive tactics and
keep the bill before the senate. Men like
Senator AIcCumber. chairman of the sen
ate finance committee and Medill Meteor
mick, who are candidates for reelection
will not allow the measure to SlUmber
and it does not take a large group in the
senate to compel action of some kind
Once the bill is voted upon a aJority i
| assured.
Whether Il two-thirtlS vote can be mus
tered in the senate to override presiden
tial vote VIII depend upon the develop
ment of public sentiment after the pas
sage of the bill and an expression from
the President So far as the house is
concerned. it can be counted upon to pass
the bill by a two-thirds vote if necessary
Inc vote OF 3Ob IN favor OF the measure
recently is "A clear index of the strength
of the bonus bill in the face of announced
presidential opposition.
Committed to "A Veto.
The President is committed to a veto
unless sales tax is enacted as a revenue
I producer. If he does not veto it, he may
| lose Andrew Mellon as secretary of the
treasury But thus far he has given every
indication that he shares Mr.. MELONS
views. The bonus seems to be the liveliest
issue in congress. 1t slumbers for a
while and then hobs mp again. Senator
AIedill McCormick'S prediction is signif-
cant-it means action on the bin and
probable passage by the senate after the