Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-26

theory of stimulation Is based upon
the anticipation of wasteful expend1-
ture. It can be Of no assistance In
the return of real prosperity. If
this argument of proponents H. cor
rect. we should make Government
loans to the whole people.
1t Is represented that this
measure merely provides loans
against a future obligation and that,
therefore, 1t will cost the American
people nothing. That Is an incom-
plete statement. A cost at once
arises to the people when instead Of
proceeding by annual appropriation
the Government is forced to secure
q huge sum ~ borrowing o. other~
wise, especially In the circum-
stances Of today, when we are
compelled In the midst Of depres-
sion to make other large borrowings
to cover deficits and refunding
operations. An increased rate of
interest which the Government must
pay upon all long-term issues is
inevitable.
1t imposes an additional burden
of interest on the people which viii
extend through the whole tenn of
such loans. Some cost arises to the
people through the tendency to in
CISdSC JAlG ltllCICSJ IdbCS WIICLl CNCIJ
State and municipality must pay in
their borrowing for public works and
improvements, as we'll as the rate
which industry and business must
pay. There is a cost to some one
through the retardation Of the speed
of recovery of employment when
Government borrowings divert the
savings CT the people from their use
by constructive industry and COM
merce. It imposes a great charge
upon the individual who loses such
increased employment or continues
unemployed. To the veteran this is
a double loss when he has consumed
the value of his certificate and has
also lost the opportunity for greater
earnings. There is a greater cost
than all this: 1t Is a step toward
Government aid to those who can
help themselves. These direct or In
direct burdens fall upon the people
as a whole.
Burden on Hard Workers.
The need of our people today is
a decrease in the burden Of taxes and
unemployment, yet they (who in
clude the veteransl are being stead
lily forced toward higher tax levels
and lessened employment by such
acts as this. We must not forget the
millions of Woodworking families in
our country who are striving to pay
the debts which they have incurred
in acquiring homes and farms in en-
deavor to build protection for their
future. They, in the last analysis,
must bear the burden of increasing
Government aid and taxes. It Is not
the rich who suffer. When we take
employment and taxes from our peo-
pie 1t Is the poor who suffer.
There Is a very serious phase Of
this matter for the wives and chill
dren Of veterans and to the future
security of veterans themselves.
Each Of these certificates Is an en-
dow1nent insurance policy. Any
moneys advanced against them, to-
gether with its interest, will be auto
matjcally deducted from the value
Of the certificates in case Of death
or upon maturity. No one will deny
that under the pressures or allure
ments of the moment, many will Dor
row against these certificates for
other than absolutely necessary pur-
poses. The loss TO many families
means the destruction of the one
safeguard at their most critical time.
terestS of the families of our country
are conserved by either cashing or
borrowing upon their hfe-insurance
policies.
I have no desire to present
monetary aspects of the question
except so far as they affect the hu-
man aspects. Surely it is q human
aspect to transfer to the backs of
those who toll, including veterans,
q burden of those who by position
and property can care for them
selves. 1t is q human aspect to IN
cur the danger of continued or in
creased unemployment. 1t is a hui
man aspect to deprive women and
children of protection by reckless
use OF an endowment policy. Our
country is rich enough to do any
justice. No country is rich enough
to do an injustice.
Matter Of Grave Importance.
The patriotism of our people is
not a material thing. 1t Is a
spiritual thing. We can not pay for
1t with Government aid. We can
honor those in need by our aid. And
It Is a fundamental aspect of free
dom among US that no step should
be taken which burdens the Nation
with a privileged class who can care
for themselves.
regard the bill under consider
alton as unwise from the stand
point of the veterans themselves.
and unwise from the standpoint of
the welfare of all the people. The
future of our World War veterans
Is inseparably bound up with the
future Of the whole people. The
greatest service that we can render
both veterans and the public gen.
orally Is TO administer the affairs of
our Government with a view to the
well being and happiness of all the
Nation
The matter under consideration
Is OF grave Importance in itself; but
OF much graver importance Is the
whole tendency to open the Federal
Treasury to a thousand purposes,
many admirable In their intentions.
but in which the proponents fail or
do not care to see that with such
beginnings many of them inSidiously
consume more and more of the say
ings and the labor of our people.
In aggregate they threaten burdens
beyond the ability of our country
normally TO bear; and, of far higher
Importance, each of them breaks the
barriers of self-reliance and self
support in our people.
HERBERT HOOVER.
The White House,
February %, 1891,