The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-05-09
ASK SUMMER
SESSION FOR
BONUS FIGHT
Adverse Committee Report
Leaves No Chance of
Early Vote on Floor.

BrTnfed Prcss
WASHINGTON. May s.-Leaders
OF the house drive for A soldiers
cash bonus began a concerted at
tempt today 70 win members 70
their plan 10 force a summer ses-
sion % that bonus legislation
might be acted on before autumn.
Representative Wright Patman
Dem, Tex, author OF the $1,000
100000 new currency bonus bill. said
he was determined TO get the
quickest possible action" The Pat
man bill, along with other bonus
plans, received an adverse report
from the house wavs and means
committee.
Patman and Representative w. P.
|onnery Dem, Mass have warned
ne house that a vote for summer
adjournment Will be construed as
vote against the bonus.
Both leaders are agreeable to a
hort recess beginning June 10 for
he party conventions, but they
want congress to return Immediately
hereafter, and vote on bonus legis-
alton.
Need Restored Confidence
Representatives David J. Lewis
Dem. Md and Heartsill Ragon
Dem. Ark voted with the COM
mittee ma jority for an adverse re-
port but failed 10 sign the report.
They intend TO file their individual
opinions this week
The majority report from the
ways and means committee denied
The claims Of bonus proponents
that a currency shortage existed.
We must restore the confidence
Of the people in our own govern
ment first Of all and the printing
Of 81 400, 100000 Of fiat money and
its distribution will not inspire
confidence in the stability OF our
currency or in the stability OF our
government the report said
Great libcrality has character
lied the treatment BY the states and
BY the federal government OF vet
Grams Of the World war. From
April. 1917, 10 June. 1890, states and
municipal subdivisions OF states
have provided in bonuses. emergency
relief. state soldiers homes. other
homes and so forth. and loans for
World war veterans the large sum
Of s649 $50 sos.
Higher Costs Feared
The government of the United
States has already paid on account
OF veterans of the World war up
TO date $4,000, 00O,O 900, and according
10 the testimony OF General Hines,
if We continue at our present rate.
with no authorizations increasing
our present commitments, by 1945
We Will probably expend for World
war veterans sci ,5OO,OOOO0O. which
will about equal the cost of our
participation in the World war.
We have spent for veterans Of all
other wars previous to the World
war up to date, in all the history Of
the country, only S8,O00OO00OO.
1T will not be possible to raise by
additional taxes the $1,000, 10000
which would be required to meet
the demands Of this bill if it should
be enacted into law, ard it is not
insisted in these hearings nor in
the Patrman bill that we should at
tempt to raise this amount by tax
alton, but the proposition seriously
presented is that we start the print
ing presses to working and print
additional money to the amount of
$1,000 100000 and distribute it
among the soldiers in payment for
their adjusted service certificates.
Warn Against Initiation
AT the present time we have
outstanding currency TO the amount
Of S5.400 900, 600. This would amount
10 an immediate imitation in our
currency Of almost IS per cent.
1T is contended that what we
need is more money in circulation
in order TO restore the prices of
1929, but in 1929 We had 100000
600 less of currency outstanding
than we have now. and it is diff
ficult 10 understand this kind of
reasoning.
In the recent past we have seen
European governments resort 20
fat money until it took in Ger
many millions Of marks to buy
small loaf Of bread. and finally the
German issue OF fiat money based
on the promise OF the German gov
eminent 10 pay. was stabilized on
the basis Of one trillion OF marks
for one gold mark.
"A government once embarked
upon the practice OF issuing fiat
money finds it difficult always TO
stop. The experience of Germany
and other nations ought not TO oe
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