The Omaha morning bee., 1924-05-16

Holds Bill
.Uniiustified
Economically Unsound, Op.
posed to American Prin-
ciples, Messages Says
Congress Prepares to
Override Action.
House to Vote Saturday


Washington, May 15.-The soldier
bonus bill was vetoed by President
Coolidge today on the grounds that
| il was economically unsound and
morally unjust.
Returned unsigned to the house
where the legislation originated, the
measure Immediately was taken up
by its friends in an effort TO over
ride the executive action and only the
counsel of leaders of both parties
obtained a postponement Of a vote
until Saturday.
The president, in his veto message.
a document of more than 1000 words.
declared he could see no justification
for enactment of the bill into law. and
added:
"Our country cannot afford II. The
veterans as a whole do not want il.
All our American principles are OPP
posed to it, There is no moral justi-
fication for it."
Proceeding in his discussion OF the
bill, Mr.. Coolidge declared no bonus
was owed able bodied veterans OF the
world war.
Patriotism Can't be Bought"
1.-The gratitude Of this nation to
these veterans cannot be expressed in
dollars and cents" he added. THE
respect and honor Of their country
will rightfully be theirs forevermore.
But patriotism can neither be bought
nor sold. II is not hire and salary.
It is not material, but spiritual Il
is one OF the finest and highest of
human virtues. To attempt 10 pay
money for it is to offer il an IN
worthy indignity which cheapens. de-
bases and DESTROYS II. We
r1ust either abandon our theory OF
patriotism or abandon this bill"
Text Of Message.
Washington, May i5.-The text Of
President Coolidge's message vetoing
the soldier bonus bill follows:
ITO the house OF representatives:
Herewith is returned. without ap-
proval. II. r. 1859. a bill to provide
the world war. and for other pur-
poses
This bill provides a bonus for the
veterans OF the world war and de-
pendents OF those who fell. To GER
tain OF its beneficiaries whose maxi
mum benefits do not exceed $50. this
bonus is to be paid Immediately in
cash. To each Of its beneficiaries
who are not 20 receive such imme-
date cash payment. there is 10 he
provided free insurance under 20
year endowment plan. The face value
OF each policy viii be based upon
the military service. the average
amount being at least sses. payable
at the expiration Of 20 years or at
death prior thereto.
sl46.ooo.eoo sum Necessary.
AN Appropriation or si4s.00e. 900
for the fiscal year 1925 will be re-
quired to provide the pro rated an
nual cost OF the insurance and 10
meet cash payments TO those not re-
ceiving such insurance. This does
not include administrative costs
which will amount 10 approximately
Se.50o coo the first year Fer the
fiscal wear 1895 an appropriation of
1885,. SOC 600 will be required and the
annual appropriations for the s0-year
period will aggregate, according 10
the lowest estimate. se.2S0.7sS.54a.
These and the other figures herein
are from the veterans bureau. but
the treasury estimates are material.
ly more.
That part OF the annual appropria-
ton not required to meet the cash
bonus or 10 pay policies maturing on
account of the death win be invested
in the bonds. The fact value Of the
bonds thus acquired plus the interest
thereon reinvested will equal. during
the se-year period the maturity valns
of the insurance policies. agsregafinS
at the lowest estimate. SSi4S Geo eee.
WIN Owe 81 500. .aoo. 900.
The money spent for the acauiSi.
tion of these bonds manifestly cannot
be spent for any other purpose. no
matter how urgent our other require.
ments may be. In other words. we
viii he committing this nation for a
period OF 20 years to an additional
annual appropriation. sll4.eoe. .eee.
This Of itself should require most
serious reflection. hut II we are 10
have such commitment. it should be
in some form which would be In har-
mony with recognized principles ef
government finance The provisions
ot this hill are not 50 in harmony.
Under IL the government viii not
have in the fund in l945 s.. SOC .Qeo.-
eco. All il viii have will be its
own obligations, and Il Will owe
81 SOC ,ooo ,o00 CASH 1t will then +,
necessary 10 sell TO the public this
ss,5oo 100000 ot honds--a major on.
eration in finance which may be dis.
astrous at that time and may ieepaa-
dize the value ot federal securities
then outstanding.
Tho one compelling deSire aud de.
mand ~ the people today Irrespective
OF party or class is for tax reduction.
We have nov reached a financial
condition which permits MS to tighten
this tax huvdep II this bill Incomes
law, We wipe out ~ once almost al
tho progrcSs five hard years have
| accumulated In ra.iacins fha r.slAnaa