Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-01-16
Einnncinr the bonus

n EPUBLICAN legislative leaders have
N convinced President Harding that 1t
would never do to go into another national
campaign without satisfying the demands
of the soldier vote. The bonus bill must be
passed at this session OF Congress, they
have argued otherwise disastrous results
may be expected when the time arrives TO
eject the next House Of Representatives.
Having agreed upon the political e1-
pediency of bonus legislation, the Senate
will be called upon to bring forward the
House bill or some modification OF that
measure and drive II through. The Presi-
dent himself Is authority for the statement
that this will be done and the business will
be expedited as much as an obstinate body
OF opponents will permit
There is one highly important question
yet remaining to no answered however.
From what source is the money coming to
meet an outlay Of from $4,000. O0O, 900 to
$4,000 100000? Neither Congress nor the
President seems to know by what means
the money Is TO be raised. All the President
has 10 say on the subject is that he expects
the bonus BILL when It reaches him for ap-
proval, to provide for the money
Legislators with more faith than judg-
ment have assured the country that there
would be no difficulty about raising the
bonus money. They would provide they
have said, for the use OF funds to he col
lected from foreign governments to meet the
bonus payments. This would obviatc the
necessity of further taxation. 1t would re-
lieve the Federal Treasury Of any strain
Gold would flow from British French or
Italian capitals direct to the pockets of
former service men and all interests would
he happy.
/, does not seem to have occurred to pro-
bonus legislators. however. that there is no
promise of ever collecting the foreign debt
of the United States There is not a gov
eminent now financially obligated to Amer
lea which has paid the interest on it's debt
to say nothing OF the principal All thai,
this country has received are additional
promises to pay AS each successive interest
| date came around.
| That President Harding entertans no
misunderstanding on this point may be
taken for granted. He must know that Eu-
| rope is in no position to redeem it's debt to
this country He probably realizes what is
| becoming conviction in many quarters
namely that Europe may never pay dol
| lar on the principal Of its obligation Ia
America even if il tries in good faith 10
| meet the interest.
This was probably in his mind when Mr.
Harding served notice upon Congress that
| he could approve no bonus bill which left
| undetermined the means OF raising the
money which would be appropriated. II he
| is honestly disposed toward the former
service men he will refuse to become a
| party 10 promise TO pay them deferred
| compensation" out OF foreign money which
| cannot he collected.
The truth Is that the soldier bonus must
| be paid. il at all. from revenue raised from
domestic sources. II must come from
sales tax or form some other levy, and the
| country might well reconcile itself Il
that fact now as later. To assure the sol
dicrS of bonus 10 be paid out OF none,
! collected from abroad is 10 practice a spe
| Cies of fraud upon them.