New-York tribune., 1922-02-15
Message To-day v ill Urge
Its Delay; Approval Of
Levy Result of Notice
Bill Is Certain 10 Pass
Campaign Pledge
Prevents Defeat
Views Of President Upset
Leaders, Who Are at Sea
as to How 10 Proceed
By Carter Field

BY Carter Field
WASHINGTON, Feb. l3.-Post-
ponement preferably. but with the
sales tax as the means Of raising the
money for the soldier bonus If Con-
gress insists upon acting now. VIII
be the gist of President Harding's
message to Congress tomorrow on
the question of compensating ex-
service men.
The President has made up his
mind to make this recommendation
after talking the situation out a
length with his official family and
Congressional leaders. The message
probably viii be sent up TO Cani-o:
Hill tomorrow.
In making THIS decision the Presi-
dent faces not only what is regarded
by practically every political leader
of both parties as the supreme crisis
to which his administration has beor.
subjected SO far. but an interesting
dilemma with his conscience. He
has admitted frankly to his advisers
that he is torn between the sacred
ness Of his spoken pledged
on the stump during his primary
fight for the Presidency carly in
l920-and his sense Of rosponsibh-
ity, achieved since entering the
White House
Won't Break Promise
If it we're not fo, ths5 spoken
promise. which the President feds
he cannot repudiate, he would send
a very fat message to Congress TO-
morrow demanding that thc bonus
legislation be killed He might be
willing to revive it later. but it
would be considerably latef-slre!v
not before the business and unenl-
ployment situations in this country
were no longer causes Of grave CON
Germ
The President is thankful ths, IN
making his pledges on the stump.
which he now so seriously regrets that
he has come to believe the Presidential
primary serious evil. he d .d not rlsls
any special pledge as TO .hc time when
they should be redeemed He is posi-
tive that the present is not the time
for the REDEMPTION OF the bonus pledge.
and he will tell Congress SO in err.
phatic terms
The Pres dent vail acconsnafv +hts
statement, however, BY he suggestion
that if Congress insists upon going
ahead with the bonus legislation dc.
spite the Executives belief that It.
should be delayed until more neop:-
tious time IN the industrial affair." o.
the country. the soundest nlal 'or
raising the money and the plan .ehicn
would, IN his opinion. have the leas.
harmful effect OF business would b.
some form of general sales tax
Told Passage Is Certain
The President will make this recon-
mendation because he has been assured
by both Senator McCu+nber and Repre
sentative Fordney. respectively chair
man Of the Senate and House com
mlttees having the legislation IN
charge. that Congress is going to pass
the bonus legislation And the infer
ence was very broad that nothing tbs
President could do would stop It. DC
spite very eager desire TO meet his
views on any details of the plan.
FOR some reason the Presidents on
position to a bond issue. which he ex-
pressed to several Senate leaders yes
terday, did not seem to reach most a.
the Congress ional leaders until today
ana caused a profound shock. The
House leaders went to bed last night
seemingly confident thaf the bond IS.
sue was the means of raising the
money, and that this would be ar
proved by the President
The President made II very cisar
to-day that he did not think it feasible
TO raise large sum of money by q
bond issue at the present time TAX
ing a considerably larger megaphona
10 get ms views TO the public. il was
made clear at the White House that
within the next fifteen months ths
government would be called on to re-
deem $6000,000000 OF outstanding
obligations. Under the pressure of
war enthusiasm it was pointed out at
the Executive Offices, the government
could raise money in almost unlimited
amounts. but IN time of peace, lacking
the same readiness to do or die which
exists in war time, there is not ths
same sweep of determination to do
things.
Fears Rise in Interest Rates
In short the President believes i
would be impossible to raise the
requisite sum for the payment of the
cash bonus under an issue Of bonds
without largely advancing current in,
terest rates, and disturbing beyond
quick repair the financial tranquility,
which is being sought for the restora-
tion of the business world.
1t also was made clear at the Whits
House that the President IL unalter-
ably opposed to the enactment of ths
special tax legisation which has been
proposed, and also to tho return 10
the taxes which were repealed. In
this the President takes his first pub