Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1922-02-10
PLAN To REFUND
THE FOREIGN DEBT
REPUBLICAN MAJORITY IN THE
SENATE BELIEVES 1T HAS
THE RIGHT SCHEME.
is DEVISED IN CONFERENCES
Cash for Payments to Former Service
Men Probably Will Be Derived
From Our European Debtors
Smoot Still Urging Sales Tax.
BY EDWARD 3. CLARK

BY EDWARD B. CLARK
Washington.-Th Republican ma
jority in the senate is hammering out
the prospective gold of the foreign
debt funding bill into glittering Leg
islative sheet which will be warrant
ed to hold water. Of course this thing
is financial matter. and in finance
east is east and west is west, though
why it should be a geographical mat
ter, an affair of latitude and longitude,
so to speak, no layman in Washington
seems thoroughly to understand. Such
is the fact, however, and what the
bases should be to make finances sta
Bile are matters Of varying prairie
and oceanside opinion.
The Republicans in the senate, hav-
Ing large majority over the Demo
cratic brethren, have been holding con-
ferences. Apparently today no party
which happens to be in the majority
in the senate feels safe in calling an
old-time caucus in which each man
who entered virtually pledges himself
to abide by a majority decision. To-
day they confer and come to partial
agreements which are to be kept only
in case some of the gentlemen pres
ent do not discover afterward that
there is ample reason to change their
minds about the legislative program
projected, and elect, after explanation
to stand in opposition.
+ 40, ,ooxry 7oan;4oI- ~,
sured that the senate will face some
kind Of veterans adjusted compen-
sation bill containing a cash payment
provision. 1t is not, however, def
nitely known whence is to come the
money to pay the bills. Eventually,
probably, the cash payments to the for
mer soldiers will be made from funds
collected from foreign debtors of Uncle
Sam. Even if a proper bill for fund
ing the foreign debt is passed by con-
gress, there is no final assurance to-
day when these funds will be avail
able.
Sales Tax Still Opposed.
Senator McCumber has assumed the
leadership of the finance committee.
He probably will be held in part per-
sonally responsible by the country
for the final form which the bill for
the funding Of the foreign debt shall
assume OF course, the Republican
majority will be responsible, but the
President must take some of the bur-
den, whether it be praise or blame,
because in a way he is the director-in-
chief of the party's legislative activi-
ties.
When the taxation measures first
were given consideration, Senator
Smoot of Utah, who in a way is the
real leader of the Republican majority
in the senate, stood as the advocate
of a sales tax. There was great OPP
position, and, approaching its force
and probably final effect, Mr.. Smoot
made changes in his proposal. He
won some few senators to his side,
but he could not get enough of them
to carry the day.
There is still great opposition to the
sales tax as a means of raising addi-
tional revenue. This kind of tax
has been advocated, opposed, praised
and damned alternately. Certain ele-
ments in the manufacturing commune
ties are opposed to it, and certain ele-
ments in them are in favor of it, and
identically the same words can be
used to describe the feelings of the
consuming masses.
Want to Try Something, Anyhow.
Who knows? Mr. Smoot says he
knows, and other men in the senate
say they know. The non-legislator is
convinced by one argument and then
unconvinced by the rebuttal, and there
YOU go. Sometimes, the wish is ex-
pressed that "any old thing" might
he tried out in order to see how it will
work. Such is the yearning for re-
lief of some kind from those elements
in the American communities who hap
pen to be represented in one way or
another in Washington when hearings
are being held by the committees hav-
ing charge of finances.
The Republican majority in the SEN
ate seems finally to believe that it sees
the fixed light of agreement among it's
members and that the factional ships
now can steer a clear course into the
harbor of harmony. When the senate
convened last spring the Republicans
had such q great majority that there
was rejoicing among them because
they believed the way was clear and
no troubles could beset their helms
man or crew. Some storms came,
rocks and sandbars were encountered
and the supposedly stanch vessel has
been several times near to the point
Of laundering Now the Republicans
saw. although the Democrats strongly
deny it, that the seams and holes in
the hull have been closed and that the
craft is as good as new. The Demo
Gratis believe that the, Republican ma
iority is likely again to break into
factions at any moment.
District Hit by Economy Spasm.
In the name of economy good
deal of scrimping seems to be the Or
der of the congressional day. The ex-
penses of government are simply enor-
nous. and congress, in it's effort to
ROYAL TREASURE WELL HIDDEN