The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-06-09
session with the possibility of pass
age. excepting the farm bill.

| SESSION Win the possibility OF pass
age. excepting the farm bill.
Il have long felt" said Senate:
Nye, that the payment of the SOL
dierS' bonus would go far in repair
ing the damage wrought by the de-
preston. Not only would payment a.
this time square an obligation which
already should have been paid, and
thus place new purchasing power In
the hands Of the veterans who are in
great need of assistance. but it would
release into business channels sup
ply of new money which would great
ly stimulate business generally. The
payment of this money at this time,
as l see it. is not selfish reques.
on the part of veterans. as has been
charged; it is a sound economic pro-
posal capable of lifting the nation. at
least to some extent, out Of the de-
preston, which is predicatcd not on
a shortage of wealth. but merely on
a shortage of the medium used in
the exchange of wealth.
Sinclair Enthusiastic
Congressman Sinclair is the only
North Dakota congressman to sign
the petition to discharge the commit
tee and bring the bill UP for vote on
the house floor. There probably VIII
be a vote June 49, He believes tina.
payment of the soldiers bonus at this
time would not be compromise to
be reluctantly made, and is enthus-
iastic in his support of the measure
In answer to the criticism by some
of the newspapers in North Dakota
Congressman Sinclair has made the
following reply:
Il think it is generally admitted
that this country is suffering from q
depression The Federal Reserve
board admits that no permanent re-
lief from this condition can be had
without a relation of the currency
At the present time, the plan is ~
have the Reserve System buy gov
eminent bonds at the rate of $780,
G00,000 week and pay for them with
Federal Reserve notes. This is now
actually being done by the treasury
each week. and it is proposed to con-
tinue the plan. These bondes are
debts Of the federal government pre-
cisely as the bonus certificates are
debts of the federal government. #
the former bonds are good security TO"
currency, why are not the soldiers
bonds or certificates coed also? Both
are payable at some future date.
am sure that no one expects or de-
sires that Uncle Sam will default
payment in his long deferred debt due
the eX-Service men.
LAS regards the talk of cheap mon
ey. which it is feared by some may
result should the adjusted compen-
sation certificates be paid now, will
say that in 1921, with cold reserves
Of only S2853 100000. we had in cir
S6.340,O00000 Treasury eX
perts say that we have free or surplus
cold sufficient to back an expansion
CT currency of over $500 100000. ev-
cry dollar backed by more gold than
in 1921. 1t must be evident that the
two billions needed to pay the serv-
ice certificates would not impair the
gold surplus in the slightest.
1C Million fer N. d.
This bonus money would be dis
tributed in every community in tn,
United States. To North Dakota. il
would mean about 10 million dollars
The buying power Of the country
would be increased 10 fold over the
amount paid on the certificates. The
wheels of industry would receive a
forward impetus, which they will net