, 1922-02-15

the war Is almost entirely responsible. From these
bC-uensome taxes there can be no relief until the
present Indebtedness is reduced The sums required
TO meet the proposed bonus bills are estimated at va
rous amounts, but a figure quite generally discussed
IS one in the vicinity of 5000, O00, 900 and it makes
but little difference whether this be paid in one sum
or by installments- Since the war, one has heard bill
Ions OF dollars spoken of so frequently that the fig
ures have lost much of their proper imnressveness.
but it may not be generally realized that $1,000, Ooo,-
GOO is about five times the entire Indebtedness accu-
mulated by the United States from its birth as a ma
tion TO the time of the European war. The indebt-
edness incurred by the United States for its OWL e-
penses during this war was in the vicinity of SILL
Oo0,O00,000 and it is now proposed to add to this
amount, by one single act, another huge debt of al
most one-half this amount.
much has been said about using for this purpose
the FUNDS received in repayment of our own debts
from the allies or from the returns of special taxes
levied on manufacturers or retailers. The injudicious-
ness OF the former method seems, in the first place,
contrary to the very rudiments of sound finance and,
secondly, it will probably be 4 matter of great uncer-
tainty for rany years whether or not these foreign
ohhgations viii prove an asset of material value As
to a manufacturers' or sales tax, this Is a burden as
certain to be felt by the community as a tax levied d-
rectly by the government.
with the financial situation under a great strain,
a national debt, including loans to the allies, over %
times tho total debt before the war, with individuals
oppressed by excessive taxation, credits for many
months past almost at the breaking point and rates
of money only just beginning to recede from a level
generally higher than for half a century-with such n
situation existing and the country just emerging from
WA~H - NAAoh AAASo
results almost too appalling to contemplate, the dan
ger Of imposing, at this time, n further burden Of S.,
OO0,000,0 DOC seems SO evident as TO need no argument.
While even the proposed bonus in many cases
would not compensate for the sacrifices endured yet
the principle involved is one of the most insidiously
dangerous features of the communistic style of gov
eminent Grant for a moment that such a bill be
passed, what assurance is there that It would be sat
isfactory to those who might take the ground, and
properly enough, that S1.25 or SO per day is made
quate compensation for their great sacrifices? vir-
tualy all the arguments in favor of the original bonus
bill would still hold good for an increase, and then
they could subsequently be used over again for another
increase.
Every argument carried to its logical conclusion
must bring one back to my original statement that to
measure by money the sacrifices of men engaged in
war is an absolute impossibility, and must be so recog-
nized not only when a nation enters upon a war, but
when the war has ceased and a readjustment is being
made.
"Do not, however, in any way confound my posi-
ton on a general bonus bill with any legislation for
the care of wounded and disabled soldiers. This is a
responsibility which should be cheerfully and gener-
ously assumed as an inevitable consequence of the
war ard is a subject on which l sincerely hope more
effective results may be accomplished"