The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1922-06-24

congress are assuming that the Indiana
leader wouldn't have made his state
ment without some assurance.
Investigation shows that if the bill
were to come to the President TODAY
Mr.. Watson would be proved bad
prophet For the President is deter
mined to veto the bonus bill. This
correspondent has been assured so posi-
lively on this point that all doubts NAV
be dismissed: Mr.. Harding stands
the bill was up in the house. He favors
postpenement of the bonus if sales
tax is not enacted. The measure pend
ing in the senate doesn't provide a sales
tax and is practically the same as, the
measure which passed the house.
Question of Finances
Mr. Harding wants it understood that
he isn't opposed to the bonus in princi-
pie. He favors compensation to the
soldiers and sailors who fought in the
late war but insists the government
finances aren't in shape for an expendi-
ture on the bonus.
Representatives of the ex-service men
know, however, that if they lose the
fight now they will have q scant chance
for another year or two to revive the
issue successfully for a deficit of $780,
100000 which may grow to a half bill
lion dollars stares the government in
the face fer the fiscal wear beginning
in the first OF next month and ending
June 80 1923. Government finances are
such complicated matter that they
permit of wide differences of opinion
and Interpretation. Those members of
the senate who are fighting in favor
Of an immediate bonus take much
more roseate view of the condition OF
the treasury than do the officials of the
treasury. The latter together with the
President believe all effort should be
concentrated on funding the public debt
/ while the bonus advocates insist that
the funding has been so successful thus
far that the bonus could be financed with
little harm to the treasury's funding
| plans. The dispute is largely academic
as it involves many psychological fac.
| tors in the marketing of investment Sc
! curities Nobody viii h able to tel
accurately lust how much of an effect
! the passage of bonus bill would have
on the funding of the public debt or on
/ the governments ability to sell short
time securities. But the men on Capt.
| fai hill who favor the bonus insist that
/ their opinions are as good as ANYBODY
else's and they are determined to &C
ahead
VIII BE Battle of Words
The question finally will resolve itself
into battle of words between the Presi
dent and the sponsors of the bonus
largely on the question of how tn;
vocates of bonus feel that today they
have enough votes to pass the honlI.
over Mr.. Harding's veto they are not, oil
course. able to calculate the psychologi
cal effect OF positive statements from
~. Harding in that veto message. Fol
the moment Mr. Harding has had his
way in keeping the bonus from beinl
given right of way in the senate. 1t was
thought the bonus forces were strong
enough to compel immediate action.
| They have a majority which is sufficient
| to pass the bill when it does come NJ
for vote, but Mr.. Harding's tactics have
raised considerable doubt as to Thu
necessary two thirds to pass the mea
| sure over a presidential veto. There arr
many changes possible between now
and the time of the veto message but
the set back which the advocates of the
bonus bill got this week has strength
ened Mr. Harding's determination t.
/ fight the passage of the measure in it.
present form.