Evening star., 1932-09-15
Presidents Bonus Statement
Gives Reasons Opposing Payment Prior to Maturity
of Certificates to Prevent Any Misunder.
standing of How He Stands.

The text Of President Hoover's state
ment voicing opposition to payment Q
soldiers adjusted service certificate
prior to maturity follows:
1t is due to the country and to the
veterans that there should be no
misunderstanding Of my position
upon payment of the face value of
the adjusted service certificates prior
to maturity. as recommended in the
resolution pending before the con-
vention at Portland. have consist
emily opposed it. In pubic interest
I must continue to oppose 1t.
I have the duty rot alone to see
that justice and q symcathetic etti-
tude is taken by this Nation toward
the 100000 veterans and their fam
lilies, but also to exert myself for JUS
tice to the other 81 100000 families
to whom consummation of this pro-
posal at this time would be calem-
ity. Cash payment of face value of
certificates today would require an
appropriation from the Treasury of
about 50 800, 600, 900. No matter how
or in what form the payment to the
veterans is imposed. 1t will come out
of all these families; but, of more
importance, it will indefinitely set
back any hope Of recovery for en-
ployment, agriculture or business,
and will impose infinite distress upon
the whole country We owe justice
and generosity to the men who have
served under our flag. Our people
have tried to discharge that obliga-
ton. Regular expenditures on ac-
count Of the veterans already con-
stitute nearly a billion a year. or al
most one-fourth of our whole Fed
eral budget.
Sympathy for Suffering.
Every rieht-thinking man has the
deepest sympathy for the veteran
suffering from disability. for those
out of work, or for veterans on farms
struggling with the adversities of the
depression. No one who began life
in the humble circumstances that /
did, and who at the earliest and
most inpressionable age learned the
meaning of poverty from actual ex-
perience, can be lacking in feeling
and understanding Of the problems
and sufferings of these men and
their families. I have seen war at
first hand. I know the courage, the
sacrifice of our soldiers.
But there are many million others
in the same circumstances. They,
too. must be entitled to considera-
ton. Their employment and their
farm recovery, as well as that Of the
veterans, can be secured only by the
restoration of the normal economic
life Of the Nation. To that end we
have been and are devoting our best
efforts. Anything that stands in the
way must be opposed. The welfare
OF the Nation as a whole must take
precedence over the demands of any
particular group.
I do not believe that the veterans
generally really understand the ad-
justed service certificate law $50
called bonus law, which was pro-
posed by themselves. In its simplest
terms that law provides that an an
nual sum Of about $ll2. 100000 Is to
be paid into fund which, with COM
pound interest, Is calculated to
amount to a total Of $500, ,000, 900,
the face value of certificates to be
distributed in 1945. Approximately
$1,000, 900, 900 has been paid into this
fund. Un6er the law of last year
authorizing loans up to so per cent
of the face amount of the certifi-
Gates, If we take into consideration
loans made through the veterans
life insurance fund which will have
to be repaid, all this accumulated
sum and more has already been dis
tributed. II the Government dis