Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-02-15
HARDING TELLS
! BONUS PROGRAM


business authorities obviously convinced
Mr.. Harding the hour had come for IN
mistakably plain speaking on the
bonus" proposition The situation vas
canvassed from every angle at the meet
ing of the Cabinet. The political exigen-
cies OF the Republican party were not
left out Of consideration. The strong
anti"bOnus" views Of executive chief
tains like Andrew W. Mellon, Secretary
OF the Treasury, were set forth afresh.
AS soon as the Cabinet meeting was
over and the President subjected himself
to his bi-weekly cross examination by
the press, he unburdened himself.
Mr.. Harding has convinced himself
1t forthwith was made plain, that he does
not think it possible at this time to
raise an extraordinarily large sum Of
money by a bond issue. During the
next fifteen months the United States
will be called upon to redeem the fabu-
lous sum Of six billion dollars OF pledges
Under the pressure Of wars responsibility
ties and the exalted spirit of patriotism
abroad In the land, the United States
has proved that 1t could raise almost any
amount of money it desired, but in nor
NAL times when there Is no such sweep
Of determination" the President very
much doubts whether it would be pos
sible to find the sum requisite for the
payment Of the cash bonus" A bond
issue, he feels, would not avail without
a very heavy advancing Of the current
rate Of interest. That, in turn, would
lead to arrangement Of financial tran
Quillity" and = disturbance Of general
business conditions that could not be
justified by anything but the most ur-
gent national emergency.
PASSES BUCK" ON
PRIMARIES SYSTEM.
The President recalled that he took
no position Of hostility to the bonus"
when he addressed Congress last year
He frankly harks back to campaign of
1920 when he was a contestant in the
primaries. AS his speech to the District
League Of Republican Clubs on Satur-
day night made plain to the whole po-
litical world, Mr.. Harding does not think
well of the primary system. He con-
cedes that in primary campaigns things
are sometimes said that are not based
on the "calmest deliberations" In his
own campaign he spoke freely on the
compensation project. he has no in
tention Of breaking faith with the people
now anent that scheme. That is why
he remains friendly to the bonus" But
he is in the happy position Of not hav-
ing specified the exact way in which the
"bonus" should be paid or the time at
which it should be done.
In the interval between the primaries
Of 1920 and this hour, Warren G. Harding
has come to the presidential office with
all Of the responsibilities Of the Chief
Executive AS he Nvisualizes his duty
at the present moment, 1t consists Of the
task of finding a. sane and defensible
position" between the fIlfllment Of
promises honestly spoken or implied and
the solemn obligation to leave no stone
unturned to restore stability" to an
economic situation clamoring for re-
construction.
Just as he is opposed to the artificial
or herculean methods like bonus" bond
issue the President made It clear he is
no less "unalterably opposed to the en-
actment of the special taxes recently pro-
posed such as imposts on automobiles,
gasoline, postage, stock transfers and
amusement admissions Not only is Mr..
Harding against the saddling Of such new
burdens on the already heavily taxed
American peope,l but he does not favor
any return to the special war taxes which
have been reduced or abolished
The Presidents full view, presumably
embodying the general idea authorized
at the White House, are presently to be
submitted in q communication to the
members of the House Committee on
Ways and Means and the Senate Com
mittee on Finance.-Copyrighr 1922, by
Public Ledger Company.