Evening star., 1924-05-16
The Presidents Veto.


President Coolidge's veto of the "ad-
justed compensation" bill came as an
inevitable sequence to his emphatic
deciaratiou> IN his December message,
Il do not slrur the granting of a
bonus" Although the measure was
changed in Come respects from the
form in whicn il was first proposed,
involving a combination Of cash pay
ments and inMIrance, it was still the
same in principle as that which he
upon the fina5Hial situation of the
government ana its prohibition of a
material measuts of tax reduction.
The President ssould not have signed
the bill without stultifying himself,
without reversing his strongly taken
position that the grant of a bonus. in
any form. will impose 4 heavy burden
upon all the people fer the benefit of
n comparative few. As he analyses
the situation. enactment of this law
will commit the nation for a period of
twenty years TO an additional annual
expenditure of S114,000,000. No pro-
vision is made in the bill for the final
financing of this expenditure. At the
end of the twenty years the govern
ment will owe two and half billions
of dollars, and it will then be neces-
sary to sell to the public bonds to that
amount. "a major operation in finance
which may be disastrous at that time
and may jeopardize the value of fed
eral securities then outstanding"
That the bonus and tax reduction
are inconsistent is distinctly known.
The fact that Congress having passed
the bonus bill is proceeding with a
measure of tax reduction, along un-
scientific lines dictated by partisan
ship rather than craftsmanship. does
not alter this fact. Taxes may be
reduced and the bonus bill may be
passed over the Presidents veto. but
the result will be a deficit in the
Treasury which must be met by a
bond issue or by an increase in the
taxes later. 1t is impossible TO have
the cake and eat it also.
Mr.. Coolidge strongly states the OBJ
tections to the bill. He does not ques-
ton the value of the services rendered
by the prospective recipients of the
bonus. To them he pays high tribute
as soldiers of the nation in its great
emergency. But, as he says, the graft
tude of the nation cannot be expressed
in dollars and cents. patriotism can
neither be bought nor sold. 1t is not
hire and salary. 1t is not material, but
spiritual. To attempt to pay money
for it is to offer it an unworthy in
dignity which cheapens. debases and
destroys it
To those soldiers of the great war
who were disabled by wounds or dis
ease, who suffered in health and
earning capacity in consequence of
their services. the nation cannot do
too much in the way of direct aid,
care and compensation. 1t has already
spent mlTe than two billion dollars for
them ard for the dependents Of those
who died, and it is now spending for
compensation. training and hospital
ization more than s400.000,000 annual
ly. THE nation stands ready to ex-
pend any amount needed for their
proper care"
Thus the President rejects the bonus
burden upon the whole people for the
benefit of few; because this burden
cannot be borne without maintaining
and possibly increasing the already
heavy taxes which are inimical to the
general prosperity of the country; be-
cause the government is under no
obligation 10 grant this gift, inasmuch
as it explicitly disclaimed cnmpensa
ton Of this character at the outset OF
the war. and because it is amply pro-
viding for those who suffered disable
ment and for the dependents Of those
who lost their lives; because I'VE
must either abandon our theory Of pa
triotism or abandon this bill
These are strong reasons, and the
President states them strongly. To
morrow the House will vote on a mo-
ton to pass the bill, the OBJECTIONS
of the President Notwithstanding" 1t
may so vote. A large number of its
members have been in advance com
mitted to such a measure. For politi-
cal considerations they may feel COM
PEELED to stand by their position, in
the face of these convincing argu-
ments by the Chief Executive. But
throughout the country there prevails
a distinct feeling that the bonus, in
whatever form, is not warranted, and
that the President is right in his OBJ
jecticn to it. The question will later
be answered whether those who vote
to pass the bill will win approval as
against the President. who has so
courageously stated his reasons and
has so consistently maintained his
righteous stand in favor Of economy
and tax reduction.
The idea Of tax reduction is so popu-