Evening star., 1935-05-22
HOUSE OVERR|DES
BONUS BILL VETO
Acts After Personal Warn
ing Denouncing InfIa.
tion Evils.
Continued From First Page.)

THE first person injured by sky
rocketing prices is the man on fixed
income.
Every disabled veteran on pension
or allowance is on fixed income"
Mr.. Roosevelt painted a picture of
what has happened in other cases
where governments have paid their
debts through the use of printing
press money" and declared that every
country that has tried this form of
meeting its obligations has suffered
disastrous consequences. The printing
press money has not been retired
through taxation, he said, and has
been followed by new issue after new
issue, ending in the wiping out of the
afflicted country. He said that the
Treasury notes issued during the
American Civil War did not result in
actual disaster and collapse, but has
caused this Nation untold troubles,
economic and political for a whole
generation"
Claims sum Not Due.
The Presidents veto message at
tackled the Patman bill because in
addition to its inflationary provisions,
it sought to bring about the payment
of the bonus to the veterans 10 years
ahead of the date on which payment
is due
He pointed out that because cash
payment was not made Immediately
to the veterans back in 1924 when the
bonus act was passed. the veterans
were allowed 25 per cent increase
because of the deferred payment and
also interest compounded.
The result of this computation"
Mr.. Roosevelt said, was that an
amount two and one-half times the
original grant would be paid at ma
turity."
This meant a S400 bonus due in
1924-25 grew to $1,000 in 1945. To-
day the amount due is approximately
$3.50.
The Chief Executive denied the
Patman bill was a recovery measure,
as urged by its supporters, or that
it would really accomplish a material
revival of trade. He pointed out that
already retail trade has grown great
ly in volume in this country. He
strongly urged Congress to follow his
budgetary recommendations, which
called for an excess of expenditures
over receipts of about $4,000 900 900,
to be used for work-relief. The vet
Grams, he insisted, not only had been
generously treated by the Nation, but
would benefit along with all other
distressed persons from the relief pro-
gram of the Government
Hits "Fallacy"
ITO argue for this bill as a relief
measure" the President said. lis to
iod ,ro hn fa1loc1, thot oa Nxol-
fare of the country can be generally
served by extending relief on some
basis other than actual need"
Mr. Roosevelt frankly said he did
not believe that by paying the vet
erans' bonus now, to the tune of ST.
2OOOO0,0OO. would in itself bankrupt
the United States. The credit of the
Nation today is safe, he said. But he
added that it would not continue safe
If we engage in a policy of yielding
to each and all of the groups that are
able to enforce upon Congress claims
for special consideration"
The President did not hesitate to
predict that if the present demands
of the veterans for the payment of
the bonus were met, the veteran
would. in the near future, start bring
ing pressure to bear on every member
of Congress up for reelection to sup
port in the name of patriotism. gen
eral pension legislation for all vet
Grams, regardless of need or age"
Quotes Borah.
During his address the President
quoted from speech on the subject
of the bonus made some years ago by
now an advocate of the Patman bill.
In that speech Senator Borah said
the veteran cannot prosper unless the
whole people prosper; that he is wrap
ped up In the welfare of the Nation
or its adversely. and that the handing
out of a few dollars will not benefit
him under such circumstances, where
as it will greatly injure the prospects
of the country and the reservation of |
normal conditions.
Mr. Roosevelt said he sympathized |
with the argument that many civil
ians who did not take part in the |
World War had profited greatly by |
increased wages and compensation
He said Congress should take care |
there should never again be such |
proflteering during a war.
Smiles on ByrnS.
When the President concluded his |
message at Ito pm. he turned with |
a smile and handed to Speaker ByrnS |
the Patman bill, without his approval. |
and a copy of the message he had |
just concluded.
Mr.. Roosevelt was given another |
ovation as he turned to leave the |
rostrum. During the reading of his |
message he was interrupted by ap- |
plauSe several times.
The President read in a voice that |
carried to every corner of the House |
chamber He read with emphasis and |
at times with great solemnity. He |
was appealing for aid to all the people |
of the country against aid for minority |
groups and it was upon that point |
that he laid a special stress.
Members of the cabinet. who sat in |
row of chairs Immediately in front |
OF the President during his address, |
included Secretaries Hull, Swanson, |
Wallace. Roper, Perkins and Morgen-
thau and Postmaster General Farley. |
Among those in the executive gal
lery where Mrs. Roosevelt listened to |
the address was Josephus Daniels, |
Ambassador to Mexico. Daniels was |
Secretary of the Navy during the |
World War, while Mr. Roosevelt was
Assistant Secretary.
Mrs. Roosevelt in Gallery.
Mrs. Roosevelt accompanied the
President to the Capitol along with
two of the secretaries Marvin Nc
Intyre and Stephen Early, and his
naval aide, Capt. Wilson Brown.
The leaders of the veterans organi-
cations were in the throng which
heard the President denounce the Pat
man bill and declare against the cash
payment of the bonus at this time.
Even while the President was de-
livering the veto of the Patman bill
there was talk of further moves to
bring about the massage of bonus leg