Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-09-20
HARDING VET0ES THE
BILL TO COMPENSATE
EX-SERVICE MEN
Continued from Page One.

Continued from Page One.
/ them are in schools or colleges,
more than $4,000 are in industrial
establishments and a few more
than 5000 are being trained in
schools operated by the veterans
bureau.
Approximately nineteen thou
sand have completed their courses
and have employment in all cases
where they desire it, and $4,000
have deferred for the present time
their acceptance of training. The
number eligible under the law may
reach close to 100000 and facilities
| will continue to be afforded, UNI
mindful of the necessary cost, UNI
! til every obligation is fulfilled.
1.-TWO hundred and seventy-siX
thousand patients have been hos
pitnlized, more than a quarter of a
million discharged and 25,67S pa
tients are in our hospitals today.
-Four hundred and sixteen
| thousand awards of compensation
| have been made on account Of
death or disability and $4S0,O0O,0O0
have been paid to disabled men or
their dependent relatives. One
hundred and seventy-five thousand
| disabled eX-serViCe men are now
receiving compensation along with
! medical or hospital care where
needed and a quarter of million
checks go out monthly in distribut-
/ ing the eight million dollar pay
ment on indisputable obligations
Treasury Doors Opened.
, I reCite the figures to remind
] the congress how generously and
I how properly it has opened the
treasury doors to discharge the OBJ
| Legations of the nation to those
whom it indisputably owes COM
pensation and carried through UNI
dying gratitude is the need of
every one who served, 1t is not to be
said that q material bestowal Is an
obligation to those who emerged
from the great conflict not only
unframed but physically, mentally
and spiritually richer for the great
experience.
IF an obligation were admitted,
| il would be to charge the adjusted
compensation bill with inadequacy
and stinginess wholly unbecoming
our republic. Such a bestowal, to
be worth while, must be generous
and without apology. Clearly the
bill returned herewith takes cogni-
zance of the inability of the gov
eminent wisely to bestow and says
lin substance, we do not have the
cash. we do not believe in a tax
levy to meet the situation, but here
is our note. you may have our
credit for half its worth This is
not compensation, but rather a
pledge by the congress, while the
executive branch of the govern
ment is left to provide for pay
ments falling due in ever increas-
ing amounts.
General sales Tax.
"When the bill was under con-
sideration in the house l expressed
the conviction that any grant OF
bonus ought to provide the means
of paying 1t and | was unable 10
suggest any plan other than thai
of a general sales tax. Such plan
was unacceptable to the congress
and the bill has been enacted with
out even a suggested means OF
meeting the cost. Indeed, the cost
is not definitely known, either Tor
the immediate future or in the ul-
innate settlement. The treasury
estimates, based on what seems
the most likely exercise of the
toptions, figure the direct cost al
opproximateIy $145,000,000 for
I1e2S; s225.000,OOO for 1924; s1l4,-
100000 for 1925; S312,0OO,OOO FOL
1895, making a total of $795,O0V,ooV
for the first four years of its ope.
ration. and n total cost in excess oil
S4.OOO.00O,O00 No estimate of the
large indirect cost ever had been
made. The certificate plan sets
M no reserve against the ultimate
liability. The plan avoids any
considerable direct outlay by the
government during the earlier
years of the bills proposed opera
lions, but the loans in the eertlll'
Gates would be floated on the
credit of the nation. This is Dor
rowing on the nations credit JUS
as truly as though the loans were
made by direct government Dor
rowing and invokes a Dangerous
abuse of public credit. Moreover
the certificate plan Of payment Il
little less than certified inability O
the government to pay and In
vites practice or sacrificial bar
ter which I cannot sanction.
publiC Credit.
at is worth remembering tina
the public credit is founded on TIL
popular belief in the defensibilit!
of public expenditure as we'll a
the governments ability to pay
| Loans come from every rank il
life, and our heavy tax burden
reach, directly or indirectly, ever
element in our citizenship. To adj
one-sixth of the total sum of ou
public debt for a distribution anon
less than five millions out of on
hundred and ten millions whethe
inspired by grateful sentiment o
political expediency, would under
mine the confidence on which on
credit is builded and establish IN
precedent of distributing publ
funds whenever the proposal an
the numbers affected make it seer
politically appealing to do So
Congress clearly appraised tn
danger of borrowing directly t
tfNh &c unit In