The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1922-09-20
PRESIDENT HARDING
YETOES BONUS BILL
House Hears Message in Silence and
and Defers Action Until Today
OPPONENTS EXPECT
VICTORY IN SENATE
Lower House Expected to Override
Chief Executive But Margin of
Two Votes is Claimed in
Upper Body. Has
Many Objections


harding vetoed the soldiers bonus
Dill today, informing congress in
written message that while he was in
accord with "thc avowcd purpose"
OF the measure he did not subscribe
to its provisions.
The executives action was repard-
ed generally in Washington as max
ing improbable bonus for the
World war veterans, at least for some
Time TO come, as it appeared to be
almost certain that the veto would
be sustained by the senate A vote
[ IN the house was planned for tomor-
row with senate action to follow later
IN the day or on Thursday.
Mr.. Harding set forth number Of
reasons for returning the bill to the
house without his approval These
included:
Failure of congress to provide a
means Of financing.
That inevitably the bonus would
| mean increased taxation.
That the legislation would wipe out
everything thus far accomplished to
| reduce government expenditures
wherever possible.
That peace bcstowal on the cx-
service men was "a pervcrsion Of
public funds" and suggested ''that
future defense is to be inspired by
compensation rather than cons cious-
ness of duty to flag ANA country"
That to add orc-siXth of the total
sum of the public debt for distbu-
ton among less than 100000, Of no.
100000 people would undermine ccnfi-
dence. The public credit was build
ed, and "cstablishcd the precedent of
distributing public funds whenever
the proposal and the numbers affect
ed make it seem politically appealing
to do So"
That the $4,000, 100000 Of matur-
ing public debt in the next six years
would be difficult to meet without
adding the complication Of added bor-
rowings on account of bnus.
That the adjusted service certif-
cate plan of payment, with it's bank
and government loan provisions, was
little less than certified inability of
the government to pay and invited
"a practice of sacrificial barter" by
the veterans.
That the bonus would not diminish
the later obligation in the way of
pensions to the World war veterans
Would Cost Billions
Asserting that this obligation would
"cOst more billions than | venture
to suggest the president declared
that rational financial policy today
is necessary to make the nation ready
for the expenditure which is certain,
to be required in the coming years."
Mr.. Harding also called attention to
the sums now being expended for
the care of the diseased, disabled
or dependent and asserted that the
total cost of this work, with insurance
liability added, probably would ex.
cccd $25,00O,00C
Only once did the president refer
to the interest on the foreign debt
out of which proponents of the bonus
have contended it could be paid. He
told congress that the government was
facing deficit of $650,00O,O00 during
the current fiscal year and further
deficit for the year succeeding seven
after counting upon all interest col
lections on foreign indebtedness which
the government is likely to receive"
AS to the immediate and ultimate
cost of the bonus, Mr.. Harding said
this was not definitely known. Trca-
sury estimates, based on what
seemed the most likely exercise of
the options, he continued figured the
direct cost at $796O0O,O00 for the
first four years and total cost in
excess of $4,0O0,OO0. He added that
no estimate Of "thc larger indirect
cost" ever had been made.
The veto message was transmitted
to the house by White House
messenger and it's reading by clerk
was begun seven minutes after its
delivery at $40 p. m. There was a full
attendance of members, many of whom
had returned to the capital to vote
on the question of over riding the
veto.
The reading was given close at