Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1924-01-22
BONUS WOULD COST
NATION 4 BILLIONS
Continued from Page ~

sources Of the people has already
become so great that it stands forci-
bly, in the way Of business expan-
SION he said. 1t is drag upon
progressive development in almost
every line of industrial enterprise"
Stating that the total national in.
come was estimated at $4,000, 600,
SENATOR Underwood said that state.
local and federal taxes aggregated
about $7,00O,O00,000 or one-eighth
Of the peoples earnings, while the
national debt had increased by
$26000,00O,000
How far we can carry the
burden and not lose our footing, no
one can foreten," Senator Under
wod continued But the fact re-
mains that we are fast approaching
the danger-point; and it is apparent.
to those who realize the vast i'm
pOrtance Of a sound system of fl
nance and stability in business con.
ditions, that labor must be employed
and agriculture find its markets,
and that we have reached a point
where we must call halt on any
further increase in taxation or eX-
tension of the national credit. Iii
my judgment there can be but one
course to pursue and that is to re-
duce taxes.
There seems to be but one I'M
pediment that stands in the way Of
this much to be desired result, and
that is the soldiers bonus, the So
called adjusted compensation bill.
In giving consideration to the pas
sage of this measure, it must De
borne in mind that from the begin
ming of the government down to the
present day the soldiers of every
war an which the nation has been
engaged, except the Great War in
Europe, have received only $6,600,-
60O,0O0,O00 by way of pension and
allowances. The soldiers of the last
war have already received in COMP
ensation, outside Of their statutory
pay, in the neighborhood of So
000,000,0O0 in five years, time.
1t is stated by those who have
carefully examined the proposal for
an adjusted compensation that The
Ultimate cost to the nation will be
between $4,000,000,0O and $4,000
100000. If we make this debt, it
must be paid in cash sooner or later,
whether we borrow it from the sol
der by postponing the time when he
is to receive his share, or borrow il
from the citizen in order that the
soldier may be Immediately paid
The interest rate and the amortiza-
ton charge must be paid by the col
lection of taxes from the Ameri-
tan people.
Some of those charged with
governmental responsibility are
publicly proclaiming that we can re-
duce taxation and at the same time
Increase the Indebtedness of the
country under a bonus bill to the
extent Of $4,000,00O,OOO or S.
0O0,000,000. To understand such
proposal requires a degree of
mental gymnastics of which I am
not capable.
Let us bear in mind that the fl
nancial condition of our soldiers
who came home after the Civil War
was far more difficult and harrass-
ing than those that confront the
men who took part in the great war. |
Then, most of them had seen four
years factive service. When the |
war of the sixties ended, part of the
country was desolate and shortly |
thereafter business was Frustrated. |
There was much distress in the land |
and small opportunity for employ
ment. The veterans of that great |
conflict did not ask for a bonus or
for adjusted compensation and did
not receive it."