Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-02-20

Special to Indiana Daily Times
and Philadelphia Public Ledger.
WASHINGTON, Feb. 2o-A growing
number of Republican Senators are
specializing seriously on the prospect OF
President Harding declining to veto
soldier bonus" bill which would carry
provisions Tor a treasury certificate au-
thorization as q means Of payment They
believe no other financing plan is likely
Of adoption by Congress. They are won
dering whether in the last analysis the
President would not take that in prefer
ence to killing all bonus" legislation on
the eve Of the bye-elections.
The theory pursued by the Senate Re
publicans, as outlined by leader Of IN
questioned intimacy with the White
House, takes into account several posi-
bilities. It contemplates first the an
tagonism of the House to a general sales
tax. The odds are so heavy against that
proposal by the President as to oil but
rule 1t out Of consideration. Thu Ways
and Means Committee, 1t is argued, is
apt. therefore. to come ultimately to a
form of taxation which leads itself most
favorably to the vote catching purposes
of the House members seeking re-elec-
ton. They would impose additional lev
les on the profits Of corporations and on
inheritances.
SENATE WOULDN'T
STAND FOR 1T.
It is argued that although the White
House has taken a definite stand against
the imposition of additional taxes, the
President in the same message recon-
mended a sales tax-an added burden on
the American consumers. They feel
justified, therefore, in seeking the $780,
100000 necessary for the FIRST cash pay
ments from the pockets of wealth.
Such "bonus" bill going to the Senate
would be scrapped almost Immediately
according to the promises by G, o. p.
leaders in the upper house. The Senate
would discard the tax features and in
sert some sort Of bond provision, most
likely the McCumber suggestion for an
issue of Treasury certificates maturing
in twenty years, but negotiable after five
years. Senators favoring that scheme are
trying to convince themselves additional
certificates to the amount of $500, 100000
would not promote initiation and would
not disturb seriously any Of the Treasury
transactions.
The Senate plan, taking cognizance CT
the certain conversion Of the bonds into
cash by the soldiers thus would have
bond statesmen instead of having the
Government undertake distribution.
BRINGS UP
NEW THOUGHT,
Such is the program now being talked
over in cloakrooms Of Senate and House.
1t presumes that the President has
"passed the buck" to Congress, and that
it shall go back to him. Some Of his
friends have expressed serious doubt that
he would go through with his announced
intention of vetoing any "bonus" bill al
though Senators VINO have discussed it
with him say he is determined in his
opposition to any further issue of bonds.
1t is contended also that should the
President abandon the stand taken in his
Fordney letter of Thursday he would
have to give serious thought to the
possibility of seeking q new Secretary OF
the Treasury.
House, and they are few, profess to be-
lieve it is dead for this session-that
postponement is inevitable since the
Presidents statement of last week. They
cannot conceive of the Ways and Means
Committee hitting on any plan within
the next few days that does nto come
within the category Of the broad program
already either abandoned as impossible
of passage or apparently "unalterably"
opposed by the President. Chairman
Fordney spoke the possibility of his
committee deciding up on again reporting
a measure without provisions for Ananc-