Evening journal., 1922-03-04
Bv LOUIS sEBOLD
Specia, Dispatch 10 The New Yor
Herald. New York Herald

bonus raid on the national finances
and business OF the country will pre-
cent to the House OF Representatives
for passage has provoked aaother
storm of opposition throughout the
country.
The only persons who appear 10
be satisfied with the latest makeshitt
venture in this respect are the Re
publican members OF the House
Ways and Means Committee. These.
In their desperation to obey the ny
ders Of tho American Legion and
other bonus propagandists. are en-
gagged in producing a measure 10
stage s5.0O0.OOO. 900 raid on the
Treasury Department three years
hence. When completed Il will rep
resent the final effort Of the bonus
members OF Congress TO put them
selves on record in favor OF a bonus
regardless Of its fate in the Senate
or q the hands OF the Presiden..
Critics OF the project do not hesi-
tate TO pronounce the latest offer
ing as even worse than its predeces-
sors Responsible Treasury AID
arlncial experts regard it as "hap-
hazard" ''hairbralned," "decaitfil.'
and assert that the chief benefciaries
of it in the end will be pawnbrokers.
usurers and loan sharks.
Veterans Not Enthusiastic.
Ex-service men demanding i'm
mediate cash gratuities display little
enthusiasm for IL. yet they instance
willingness to accept it II nothing
better can be obtained.
Greater opposition IS manifested
10 II in both the House and Senate
than to the previous suggestions
which were discarded for easily un-
derstood reasons the most impor-
tant OF which was they were not ac-
ceptable to the President and de-
nounced 20 be undesirable by Treas
ury officials. flood Of protests
against II already has begun TO show
on the two houses OF Congress
Yet the Republican members Of
the House Ways and Means Com
mittee and the majority Of the 435
Representatives in the lower house
purpose TO put the "pawnbrokers'
bill" through 20 head off political
reprisals threatened by the organ
lied propagandists. They believe
they can make the country like IT,"
as one of its most ardent supporters
put il tonight.
For some unaccountable reason.
TIE sponsors for the new scheme TO
raid the Treasury and demoralize
business conditions throughout the
country believe there IS a chance
that the President may be induced
to accept il.
President stln Firm
That impression does not exist in
executive departments OF the Gov
ernment. This fact was made OK
tremely clear at the White House
yesterday afternoon. IL was said
there by an authoritative official
that The President still stood by the
declarations he made in his reply
10 the appeal of Chairman Fordney
for suggestions regarding the
financing OF a bonus.
In his reply. the President said
the only suggestion he had TO Offer
was that a sales tax feature be in
cluded in any bonus bill passed oi
that bonus legislation be postponed
until the country Is in better condi-
ton to stand the tremendous drair
on its already-strained resources
The Presidents views remain exact
ly TIE same as they were when h'
addressed his letter TO Mr.. Fordney
Members of the two houses whit
recently have discussed the matter
with him have not been permitte,
to retain the slightest doubt that th'
President would veto any bonus bil
which does not carry the sales tai
provision.
Despite this fact. bonus Congress
men appear 10 think that the Presi
dent provided them with loophol
I'm his statements which appeared {,
be both positive and exclusive Tn
basis for the hope that he may svent
ually be prevailed upon TO accep
the "pawnbrokers' bill is twofold.
The first is that the President
open TO conviction that failure q
the Republican majority 10 pass
bonus bill in accordance with tn
promises of individual member
will expose his party to defeat In III
Congressional elections. The sec
ond and. in fact. controlling reaso
that inspired the adoption OF th
insurance certificate idea venture
the helief that it provides a techn
cal avenue of escape from his r.
peated objections to previous Ut
dertakings.
Adherence 10 Spirit
Bonus Congressman assert that Z
'posponing" the actual raid on II
Treasury for three years they w
Doe adhering TO the spirit. II not n
letter OF tho Presidents rccommei
dation that the bonus project
laid aside unless a sales tax fcatu
is included in IT, what the Preside
recommended in his letter was tn
bonus legislation" be laid aside.
The promoters OF the insuran
certificate scheme now being r
duced to legislative form do not r
gard the distinction between an aC
ual bonus raid and the enactment
bonus legislation as OF vital impoi
ance. Some OF them assert that O
Presidents tendency toward cor
promise" may eventually lead 10 !
approval OF the latest project I
reasons solely political.
At any rate they are willing
take a chance to the extent Of jar
ming the new scheme through t
lower house and that's all they re,
ly care about. Such a step will. tn
think. save them from tho wrath
the bonus claimants.
IL developed yesterday that Re