The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1924-02-14

result of natural phenomena. They
were no the freewill and spOntane-
Gus Offering OF an enthusiastic citi-
zenry rising in mass to praise the
Mellon tax proposals and condemn
the adjusted compensation bill.
lfThey were the result of a carefully
| planned propaganda campaign one
of the chief inspirations of which Is
julius H. Barnes, president OF the
Chamber Of Commerce Of the United
States.
Mr.. Barnes has long been a re-
sponsible lieutenant of the adjusted
compensation opponents forces. For
four years he has been working
among the hundreds of local cham.
bers of commerce, who are affiliated
with the national body in an effort
to instil among them a sentiment
hostile to the veterans bill. This
long experience made him an out
standing figure in the nationwide eff
fort which was called for last De-
cember to bring down a letter bar
rage on congress which would make
it appear that the whole country
had accepted Mr.. MELONS theory
that II taxes are to be reduced, the
debt to the soldier must go unpaid.
Mr.. Mellon and His Arithmetic
So matters stand. Between Long
worth and Butler and Barnes, who
are all clever men, and Mellon, VINO
is the cleverest of the lot, you have
today campaign perfected against
the adjusted compensation bill which
is the shrewdest move that ever has
been made against the ex-service
men of America.
1t has been said that Mr.. Mellon
made a blunder of nearly a billion
dollars in six months estimate OF
the financial condition OF the
treasury. In December OF 1922 ne
dressed up a statement to President
Harding, and made it ring true, that
the Government was running at such
a. loss that the deficit for the fiscal
year would be $650,000. 900. The
object of this was to back up and
lend color to the presidents veto
message on the compensation bill, In
which he said the country was too
poor to pay adjusted compensation:
But what happened? When the END
Of the fiscal year rolled around, on
June 80 last, there was no deficit
but $313,0OO,000a surplus in the
treasury. t4TuC, WI. 44OiA0A Vt$o 80
most q billion dallors of, but he had
made no blunder. He knew what ne
was doing. Great bankers like Mr..
Mellon do not make billion dollar
blunders. r s t
Take his latest sets of figures, Tor
example. Last fall when congress was
Just about to meet, and it was known
that a majority in both Houses large
enough to pass a bill over the presl-
dents veto favored adjusted com
pensation, the secretary came out
with his celebrated statement tnat
If the compensation bill was peaten
he would cut taxes 1928 ,0O0, put
that If compensation Dill was
passed there would be no cut put
likely an increase in taxes. NOW u
so happened that year carrier the
treasury had officially estimated the
cost of the compensation Dill 10 pc
from $8O,000,000 to $90,OOO,ooo an
nually. These figures were dug up
and Mr. Mellon was asked TO- explaln
them 1t seemed for moment that
M MELONS tax reduction. story
would appear a trif1e ridiculous. But
what happened?
Mr.. Mellon called in his actuaries
the same actuaries who prepared
the $8O,000,000 figures. 1t seems
that their job this time was to fetch
up an estimate which in hgures
would cover something like 1873
100000. They almost succeeded
Mr.. Mellon announced that the bill
the same bill-would cost $225,-
100000 year-that is, for the first
Jour years, after which it drops away
Town. He repeated the statement
hat If the bill passed 1t would take
/ generation before we could reduce
axes. Yet he did not mention the
$3.50, 100000 year we will get on
he British debt Nor the $780,
1000 or more that will come by
,urtailing useless expenditures as al
.eady planned. Either sum actually