The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1922-09-20
BONUS BILL VETOED
BY HARDING; PRACTICALLY SURE
SENATE Will $ ssssYgssss e ssa1s Ssss7 IN ACTION
Vote in ---.... %
Today With Senate Ac-
tion on Thursday.
cay Ths Associates Pressl

WASHINGTON, Sept. 1S.-President
Harding vetoed the soldiers bonus bill
today, informing congress in written
message that while he was in accord with
"the avowed purposes Of the measure
he did not subscribe to its provisions.
The executives action was regarded
generally in Washington as making i'm
probable a bonus for the world war vet
Grams. at least for some time to come as
it appeared to be almost certain that the
veto would be sustained by the senate.
vote in the house was planned for to-
morrow with senate action to FOLLOW later
in the day or on Thursday.
Mr.. Harding set forth number of
reasons for returning the bin to the house
without his approval
Failure Of congress to provide means
of financing.
That inevitably the bonul would mean
increased taxation.
That the legislation would wipe out
everything thus far accomplished to re-
duce government expenses wherever pos
sible.
That a peace bestowal on the ex-ser-
vice men was "a perversion of public
funds and suggested that future de-
fense is to be inspired by compensation
rather than consciousness of duty to flag
and country" @
That to add one-sixth OF the total sum
of the public debt for distribution among
less than 100000 of 11o,000.000 people
would undermine confidence on which the
nations credit was builded, and ''estab-
lish the precedent of distributing public
funds whenever the proposal and the
numbers affected make 1t seem politically
appealing to do So
That the $4,000, 900, 600 of maturing
public debt in the next six years would
be difficult to meet without adding the
complication of added borrowings on ac-
count Of bonus.
That the adjusted certificate of pay
ment with its bank and government loans
was little less than a certified inability
of the government to pay and 'prac-
tice of official barter" by the veterans.
That the bonus would not diminish the
later obligation In the way of pensions to
world war veterans,
| asserting that this ohIiga ton would
I sssecst more Billions than + Isenture TO -sug-
gest,'' the president declared that "a ra-
, tional financial policy today is necessary
to make the nation. ready for the expendi-
! ture which is certain to be required in
the coming years"
| Mr.. Harding also called attention to the
sums now being expended for the care
of the diseased. disabled or dependent
and asserted that the total cost of this
! work, with insurance. liability added
probably would exceed $4,000, 100000
Only once did the president refer to the
| interest on the foreign debt out Of which
proponents of the bonus have contended
1t could be paid. He told congress thai
the government was facing deficit OF
$3.50 900, 900 during the current fiscal year
and a further deficit for the year sue
ceedinR "even after counting upon all In
terest collections on foreign Indebtedness
which the government is likely to re-
| ceive."
! AS to the immediate and ultimate cost
Of the bonus, Mr. Harding said this was
! not definitely known. Treasury esti-
mates, based on what seemed the most
likely exercise Of the options, he con-
tinued, figured the direct cost s7S5,oOo,oct
for the first four years and total cost
in excess Of $4,000. .0Oo, 900. He added thai
no estimate Of "the larger indirect cost
ever had been made.