The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1933-03-11
Phone-RIIey 555i
SATURDAY MARCH II, 1888
ROOSEVELT'S COURAGE

President Roosevelt has run up against the vet
Grams lobby 1t is the real test Of his power. This
is the significance Of his special economy message
to congress and the lines that are being drawn today
in the congressional cloak-rooms
If we bankrupt the government, we bankrupt the
country. BY accumulatng in three years govern
ment operating deficit of five billion dollars we are
headed toward bankruptcy.
That is one cause of the banking chaos. 1t con-
tributes to unemployment 1t deepens the depres-
sion All of this is set forth clearly in the Presi-
dents message asking congress for immediate action
The chief cause of the annual operating deficit
is the one billion dollar veteran expenditure It is
the only large federal expense where large cut
is possible. For three years, the Hoover admins
tration and congress tinkered with small economies
but did not touch the big leak Finally President
Hoover proposed very moderate veteran economies
Congress refused So the deficit continues.
President Roosevelt proposes to stop it.
There are three very simple things for the pub
lie to remember in this fight for large veterans
cut
lit is NOT proposed to reduce the care and
benefits Of veterans injured in the war but rather to
protect and insure the continuance of adequate re-
lief for that class of veterans The reduction would
come mainly out of the appropriation for so-called
nonservice connected disabilities. The possible saw
ing, without any injustice to actual sufferers is
estimated at $4OOOOOOOO to $45OOOOOOO
2-The need for unusual speed in making this cut
is fixed by the date on which about 100000 900 of
government bonds fall due for payment. That day
is next Wednesday. The government, far in debt,
can not pay. 1t must borrow; that is it must issue
new bonds to take up the old. The ability of the
government to refund those bonds depends in large
part on cutting the operating defcit-which means,
the veterans cut While at Christmas time the gov
eminent was able to borrow money for less than l
per cent, public confidence has been shaken to the
point on the of the bank holiday ..at the gov
eminent had to pay more thar al per cent for
money. The government can not refund its bonds
on favorable terms next Wednesday unless congress
meanwhile passes the Roosevelt economy law Other
wise. high interest rates will compound the federal
deficit and debts and make it vastly difficult
to climb out of the depression
3-Long experience with many sessions of con-
gress has proved that since the Civil war veteran
lobbes boost their class subsidies in good times
and prevent reduction of those subsidies in bad
times. OF all the political Hobbies in our history this
one has been the most powerful and consistently
successful Well organized from the backbone pre-
cinct and on up to the capitol at Washington, this
lobby has existed as kind of government within a
government Congress has not prevailed against it.
Congress, apparently, can not prevail against it.
At last have President with courage enough
to ask congress for power to do what congress has
failed to do Congress should be glad to grant that
power.
Mr.. Roosevelt is willing to take the political con-
sequences We believe the President will be vindi-
Gated Not only the general public, but great many
veterans unselfshy the justice and necessity Of
this cut