The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1931-02-20

HOcus POcus Bonus
BY JORGE


Now you see it, and now you don't. Which
shell is the pea under, buddieS?
And great guns, how the supposed opposition"
in Congress is making believe that they are the
sterling silver friends of the veterans!"
The very same guys who turned themselves
wrong side out over the Arkansas Compromise"
and finally decided that it was more humane
to let the farmers starve to death quick than to
kill them with Red Cross relief" are pictured
in the capitalist press as herocally standing off
the administration in defense" of thing known
as the Bacharach Bill. 1t ought to be called
"baccarat" in memory of Monte Carlo.
Such a wonderful blessing to confer upon the
men "who fought on Flanders Field" A vet
has, let us say, Tombstone Insurance Policy for
$1,000 providing he hasn't already been forced
to borrow against it at per cent Let's be
optimistic and say he has the whole $1,000 COM
ing to him in 1945
Under the Bacharach Bill, he can borrow $500.
But at Az per cent compounded annually. If it
were at straight" Az per cent, interest would
amount to $315 in the IA years from now to
1885, which would leave him. if he could pay it
as it went along, $185, or about enough to bury
him, out of the $1,000 at the end of IA years
in 1915.
But the capitalist government, really aided by
the opposition" has no intention of paying
funeral expenses for the vet when he dies, any
more than it intends to feed him while he lives
but has no job. 1t has another nice war on
tap and thinks it cheaper to let him just soften
up where he falls on the battlefield. Soldiers
are said to make excellent fertilizer.
So not only interest, but compound interest, is
the slogan. And on $500 for Is years the COM
pound interest is $42896, which, added to the
$500 makes $92896 the vet owes the government
in 1945 because it gave him bonus! And if he
kisks off that year. his "heirs and assigns can
collect just $71.04! For that's all that will be
left of $1,000 bonus
Meantime, the government that is now bor-
rowing money from banks for l per cent? and
is loaning it to private shipping concerns for 21a
per cent? will be making $37696 out of the $500
loan, because if it gets money at per cent on
straight" interest for IA years, interest costs it
it only $50; while it charges $42896 to the vet:
The only reason why Hoover would veto such
a nice scheme is that he expects to run for
reelection in 1882 and not in 1s45 and the
capitalists who back him are dead against any
taxes right now, and don't give whoop about
1945, as they can think up new swindle by
that time
But vets should learn the point Of that old
Russian story about peasant who went to the
village money-lender.
Sitting down at the sharks desk he sold: 81
want to borrow rouble to get my wagon liked"
"An right" said the money lender, But I
must have seclu ity"
'Yes sir, I knew that. So brought an axe for
security Here it is" And the peasant handed
his axe to the money-lender, who promptly put
it behind him out of reach, then took out rouble
and laid it on the table.
you know we charge interest" he said.
And the peasant nodded, eyes" He had heard
about interest. "Fifty-fifty, rouble for rouble,
that's fair, isn't it?" added the money-lender.
eyes" said the peasant, ''that sounds fair rouble
for rouble.'
"And we deduct the interest in advance" said
the money-lender, he took up the rouble and
pocketed it, 80 when you pay me back the one
rouble you borrowed you can get your axe back.
The moral of this story is that the only way
the veterans can beat the shylock capitalists is
to raise supreme hell to get full cash bonus
payment without any loan" business and with
out any interest hocus pocus. And the time to
begin raising hell is on February 25thl