Evening star., 1922-09-20
TEXT OF PRESIDENTS MESSAGE
VETOING SOLDIERS BONUS BILL

"hctueT Dy seIti-
ment or political expediency. would
undermine the confidence on which
our cerdit IL builded, and establish the
precedent of distributing public funds
whenever the proposal and the num-
bers affected make 1t seem politically
appealing to do so.
Congress clearly appraised the
danger of borrowing directly TO
finance a bestowal which is without
obligation. and manifestly recognized
the financial problems with which the
nation is confronted. Our maturing
promises TO pay within the current
fiscal year amount to approximately
81 600, ,0O0,0 900, most of which will have
to be refunded. Within the next six
years more than $4,000. 600 900 of
debt Will mature. and will have to be
financed. These outstanding and ma
turing obligations are difficult enough
to meet without the complication of
added borrowings. every one of which
threatens higher interest. and delays
| the adjustment to stable government
financing and the diminution OF fed
eral taxes to the defensible cost of
| government
1t Is sometimes thoughtlessly urged
that it Is a simple thing for the rich
republic to add four billions to it's
| indebtedness. This impression comes
from the readiness Of the public re-
sponse to the governments appeal for
funds amid the stress OF war. It is
| to be remembered that in the war
everybody was ready to give his all.
Let us not recall the comparatively
| few exceptions. Citizens Of every de-
| gree of competence loaned and sacri-
| feed. precisely in the same spirit that
our armed forces went out for serv-
ice. The war spirit impelled. To a
war necessity there was but one
answer. but peace bestowal on the
ex-service men, as though the su-
preme offering could be paid for with
cash, is a peryersion of public funds,
a reversal Of the policy which exalted
patriotic service in the past, and sug-
gests that future defense is to be in
| spired by compensation rather than
| consciousness of DUTY to flag and
| county.
Governments Problem.
The pressing problem OF the gov
ernment is that Of diminishing our
| burdens, rather than adding thereto.
| 1t is the problem of the world War
| infiations and war expenditures have
unbalanced budgets and added to in
ldebtedness until the whole world is
staggering under the load. We have
| been driving in every direction to cur
tail our expenditure and establish
economies without impairing the es-
sentials of governmental activities.
1t has been a difficult and unpopular
| task 1t is vastly more applauded to
| expend than TO deny After nearly a
year and quarter of insistence and
persuasion. with concerted drive to
| reduct government expenditure in
every quarter possible, it would wipe
| out everything thus far accomplished
to add now this proposed burden, and
| it would rend the commitment to
economy and saving SO essential to
our future welfare.
The financial problems of the gov
| ernment are too little needed until
we are face to face with a great
| emergency. The diminishing income
! of the government. due to the re-
ceding tides of business and attend
| ing incomes, has been overlooked
| momentarily, but cannot be long
! ignored The latest budget figures
| for the current fiscal year show an
| estimated deficit of more than $780,
| 400 600 and a further deficit for the
| year succeeding. even after count
! ing upon ali interest collections on
| foreign Indebtedness which the gov
| ernment is likely to receive. To add to
| our pledges to pay. except as necessity
| comrels. must seem no less than
! governmental folly. Inevitably it
1 means increased taxation. which
| Congress was unwilling to levy for
| the purposes of this bill, and will
\ turn US from the course toward
| economy so essential to promote the
activities which contribute to com
mon welfare.
| Part in World War.
1t is to be remembered that the
, United States played no self-seek-
| ing part in the world war. and pur
| sued an unselhsh policy after the
! cause was won. We demanded no
| reparat ton for the cost involved, no
| payments out of which obligations to
| our soldiers could be met. ! have
not magnified the willing outlay in
| behalf of those to whom we have a
sacred obligation. 1t is essential to
| remember that a more than four
| billion dollar pledge to the able-bod-
led ex-service men now will not di-
minish the later obligation. which
will have to be met when the younger
| veterans of today shall contribute to
the rolls of the aged. INDECENT and
dependent 1t is as inevitable as that
the years will pass, that pension pro-
| vision for world war veterans will
be made as it has been made for
those who served in previous war.
1t will cost more billions than j ven
ture to suggest.
There will be Justification when the
need is apparent and a rational imam
I cial policy today is necessary to make
the nation ready for the expenditure
| which is certain to be required in the
coming years. The contemplation OF
| such policy is in accord with the
esta blished practice Of the nation.
and puts the service men of the world
war on the same plane as the mil
lions of men who fought the previous
battles of the republic.
Regret on disappointment.
confess a regret that | must sound
a note of disappointment to the many
ey-service men who have the impress
sion that il is as simple matter for
i,he government to eXpend billions In