Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-03-07
ANY BONUS PLAN MUST BE
A PLAN TO INCREASE TAXES
" II is lmpraeticabIe to Raise the
Money, the Whole Idea Might
as Well BE Dropped

ds WeH DC OToPpeo
s1>HE bonus, IL 1t is granted at all, should
l. be n voluntary offering of the Nation
to the men whom it summoned to its
defense 1t should be voted with the knowl-
cGge that the men who were summoned to
wear the uniform were defending them
selves aud their own interests just as much
as they were defending any one else.
They were not men without Il stake in
the fight forced to leave their business to
protect the interests of others who had
They suffered in their pockets because of
the war. But the 40OO.OO men in uniform
constituted only small part of those who
suffered in the same way
The imitation of the currency and the high
prices had the effect of cutting in two the
income Of every salaried man and woman,
and the loss which they sustained was much
greater than The pecuniary loss sustained
by any man who was drafted. And some
of the drafted men who received commits
sions in the army or, the navy got bigger
incomes than they ever received in civilian
life.
Despite all This. if the money could be
readily raised without serious injury TO the
country it would be proper that the men
whom the Nation summoned to risk their
lives in its defense should be recompensed.
Although It may be argued that the plan
involves putting a money value on patriotism
and making the soldiers of the Nation mer-
cenaries. ther" should be no hesitation in
adopting it for this reason.
1t is unfortunate. however. that the sol
diers organizations have begun TO threaten
the President and the Congressman who
point out difficulties in the way of raising
the money needed They nre saying that
they will wreak political death upon any one
who fails to fall in line
This is form of duress which is likely
10 arouse the men against whom it is
directed and to lead them TO unite for the
preservation of their self-respect and their
independence as legislators.
MacNider, of the American Legion and
other bonus advocates are saying that they
do not care where the money comes from.
All they care about is the bonus.
This indifference TO the financial condi-
ton of the country is ndefensble Every
one knows that the taxes are too heavy now
and no plan has been proposed for raising
the money which can be adopted.
The latest suggestion is TO pay the bonus
by issuing what is called insurance certifi.
Gates running twenty years and bearing
interest at Az per cent. and by providing
that while they shall be non negotiable.
the men 10 whom they are issued may
borrow from the banks So per cent of their
face value.
This is the original certificate PROPOSE
'on once before killed by Secretary Mellon
in another form. 1t is as Objectionable now
as when it was first proposed because it
would depreciate the value of every other
Government security. But the farmers bloc
Is Objecting to it for new reason. II the
banks should lend money on the certificates
! the money needed for financing the opera.
tions of the farmers would be absorbed and
| the farmers would be unable 10 borrow
| money from their banks when they needed II.
| They are assuming that the banks would
! lend the money on the certificates. But the
! Government cannot force any bank 70 lend
money. and the banks which suffered from
frozen credits when they lent money on the
| Liberty and Victory Bonds are in no mood
| TO tie their money up again III any loans
| which cannot be called in an emergency.
There is not 81 1000 900, 900 or s., 900.
/ 900 900 of loose capital available for cushing
insurance certificates at the present time,
! and no amount Of denunciaton of the banks
| or of ''the money power or If The war
| prontcers can create i.
| There is only one way Dy MA.c4 the
money can be raised at the present iime
and that is by taxation. II the country
| will not submit to new taxes the effort tC
! nut The bonus over might as we'll be aban
doned. II IS not question OF right oi
/ wrong. but question of possibility.
II the bonus advocates choose 70 make 6
! political issue of il there should be no mis-
! understanding Of what the issue is. Stripped
of all frills and rhetoric. If is whether tn,
! country shall tax itself to the extent d
| S4 600 900 600 or $4,000. 900 600 more thar
Il is now taxed in order 10 pay few
| hundred dollars each 70 the ex soldiers
Hundreds of thousands Of these men d.
NOT want any bonus. They do not wish Il
put money value on their patriotism
They would respond again willingly if the
We're called and regard il as nothing NOR
| than their duty
! If the truth We're Anown il would doubt
| less appear that the whole bonus agitation
comes from smal! organized minorit
which for reasons that seem good TO il i
seeking 70 browbeat Congress and rh
President into increasing the burdens Of th