Evening star., 1935-05-14
Politics-Just Politics.

Politics-Just Politics.
Some of President Roosevelt's po-
litical advisers are out to bring the
bonus bacon home for Mr.. Roosevelt
if they can. Their plan, 1t is report
ed, is to have the President issue
strong veto message of the Patman
"greenback' soldiers bonus bill. At
the same time there is to be enough
slackening Of the efforts to hold ad-
ministration Senators in line to per-
NIT the veto of the bill to be over
ridden in the Upper House. In this
way, it is contended, the President
will be able to have his cake and eat
it, too. BY his veto message he will
make strong appeal to the conserva-
tives and the business interests of the
country, which have feared currency
imitation, thereby Strengthening him
self in those circles. At the same time,
with the bonus enacted into law by
vote Of the Senate overriding the veto,
the World War veterans and their
friends, not to mention the inflation-
lists, will be satisfied The veterans will
have their money and the infiationists
their greenbacks
This is the kind of scheme, however,
which could succeed only if the ma
neuvers were conducted in the utmost
secrecy. The people in the country
who do not like currency imitation
and who do not believe that it is ad-
visable to pay the soldiers bonus at
this time, if they thought they were
being flimflammed by the administra-
ton, would scarcely look with conf
dence or regard toward the Chief
Executive. 1t is true that the veterans
might be satisfied, if they were paid
of, and would not hold his veto mes
sage against the President. Perhaps
these advisers of the President who
point out the virtues of their plan
remember what happened to the late
President Calvin Coolidge. In 1924
Mr.. Coolidge vetoed the bill that set
up the first definite claim of the
veterans to the bonus. In the Senate,
as in the House, the veto was over
ridden with the aid of Republican
votes. Mr. Coolidge was elected Presi-
dent in the following November, and
if the veterans felt any resentment
they did not show it at the polls. nor
did the business interests of the
country.
1t is hardly conceivable that the
President Of the United States could
countenance such a plan. To do so
would mean a veto of the Patman bill
with a mental reservation. There
are, however, those within the presi-
dental circle who are not averse to
the payment of the soldiers bonus now,
and with greenbacks. The chairman
OF the Reconstruction Finance Corpo-
ration. Jesse Jones, in an address to
North Carolina bankers, said the coun-
try could stand the payment of $780,
100000 as a bonus to the veterans
now, and that it would be a val
liable thing to get the issue out of
politics. Mariner S. Eccles, COVER
nor of the Federal Reserve Board,
told the Senate Banking Committee
that the issuance of the greenbacks
to pay the bonus would really be no
more imitation than the issuance of
Government bonds These state
mentS, coming at time when the
fate of the bonus hangs in the bal
ance, were not calculated to strength
en- the group which planned to vote
to sustain presidential veto. And
now it is reported that one of the
Understanding officials of the ad-
ministration is giving the same kind
of advice, to override the veto.
The veterans are being used, in this
matter, by the inf1ationists. The lat
ter realize that the demand for the
payment Of the bonus is strong in
itself. So they have saddled on the
bonus bill proposal that starts the
Government printing presses making
1t is dangerous step that
may start disastrous flight from the
dollar, Mr.. Eccles should remember
that when the Government issues its
bonds to raise a couple of billions of
dollars it obtains real value. On the
other hand, when the Government
adopts the expecient of printing money
it is trying to take something out of
the air to pay the veterans. While
this may not seem a matter of great
importance to Mr.. Eccles, perhaps it is.
When time is being saved by the