Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-01-24
TAKE STEPS TO
HASTEN ACTION
ON BONUS BILL
Caucus of G. 0. P. Members
Of the House Called for
Thursday Night to Dis
Guss Soldier Relief.
CBy The Associated Press.)

Washington, Jan. 23.-CaH Tor
a caucus Thursday night of the
republican members of the house
on the soldier bonus was issued
today. Immediate action on an
adjusted compensation bill has
been demanded by n group of
mombers who were in the milit-
airy service during the war.
AT the conference they plan to
offer a resolution instructing the
ways and means committee to
proceed at once to the drafting
of a bonus measure. The reso-
luton also will provide that when
reported to the house. the meas
ure is to be the continuing busi-
ness until passed.
House leaders said no effort
would be made at the caucus 10
instruct the ways ana means COM
mittee as to how it should pro-
vide the raising Of necessary
revenue. That question will be
determined. it was said by the
committee.
Methods OF Taxation.
Data on possible new methods
of taxation to raise funds for a
bonus has been prepared by the
treasury department, it was said,
for the fnsormatior OF congress.
Treasury officials said however,
that the department would await
requests for such information be-
fore transmitting it to congress.
1t also was said that the treas
ury's position on the advisability
of bonus for veterans of the
world war was unchanged, en-
actment of compensation legisla-
ton under existing conditions be-
ing viewed with disfavor.
In the event bonus bill is
enacted, treasury officials said,
some tax would have to be pro-
vided Use of the allied debt as
bisis for bonus financing was
said TO De regarded as imprac-
tical.
In the opinion of the treasury,
officials said, 1t would cost more
to raise the money for a soldier
bonus from the sale of bonds
based on the debts of the allied
nations than it would to float the
| country's own obligations. For
instance, it was explained, should
/ bonds representing Great Britain
! for approximately S5,000,000 be
issued as a part of a bonus pay
ment plan, they would have to be
sold at a discount by this govern
ment, because they would be sub
| ject to the various forms of tax
ations.
At the same time, 1t was added,
| the government would have to
guarantee the foreign bonds, the
sale of which would be taking
money out of the investment
market which otherwise might go
toward American securities. Data
complied by the treasury was un-
derstood to cover various fields
of possible taxation, without,
| however, considering a sales tax
las a practical solution of the
problem.
Tax On Bank Checks.
! The treasury, 1t was added, eon-
| siders as advisable and has suE-
gested a tax of two cents on all
F., bank checks which it is estimated
would produce $50,000,000 a year.
| while further revenue might be
| obtained from increasing taxes on
negotiable instruments.
According to the treasury's esti-
mate, approximately $4,000, 900
u year could be obtained from a
three cents gallon tax on gas
oline.
Increased postage through use
of three-cent stamp, it was
thought, would produce approx
mately $70,00O,OOO a year.
On the basis of the pending
McCumber bill, the treasury
estimated it would be necessary to
provide approximately $S00,O00.-
eco for the bonus in the first
| two. years.