The Skyland post. [volume] (West Jefferson, N.C.) 193?-1988, 1935-04-25
PATMAN BEGINS FIGHT TO KEEP
FROM HAVING HIS BILL DEFEATED
Public Shows Great Amount of In
terest in Social Security Bill
in House of Representatives

Representative Patman, Democrat
from Texas and author of the infla-
ton bonus bill approved by the
House, 31S to 90, began fight this
week to keep the Senate from scut-
Ting his bill in favor of Senator Pat
Harrison's compromise currency ex-
pansion measure.
Patman, appearing before the Sem
at finance committee which is headed
by Harrison, said the veterans had to
get their money "now or never" Re-
minded by Senator Josiah w. Bailey
that President Roosevelt would veto
his bill and asked why he wanted the
Senate to approve it under those con-
ditions, Patman replied:
"To be frank, the soldier won't get
much under the Harrison bill. / don't
favor that bill but I appreciate the
step in the right direction which it
takes" He said he still hoped to per-
suade the President his bill would be
good thing for the country.
Under the Patman bill the bonus
would be paid Immediately with more
than $4,000, 100000 newly printed
currency. Under the Harrison propos-
al veterans in need of cash could OBJ
tain negotiable bonds for their ad-
iusted service certificates. They could
sell the bonds for cash.
Patman denied that his bill was
inflationary.
every dollar issued would be back
ed by more than 100 per cent metallic
reserves in the Treasury" he said.
So much interest is being shown in
the social security measure that we
quote from an article which explains
it in "The Charlotte Observer:
Taking the Administrations own
corvative and rational measure and
passing it by a vote of 372 to SO, the
House has given ample answer to the
wild-eyed, radicalistic dreamers who
have been parading their demagogic
Or simply silly ideas of social security
upon the country.
The bill as passed is sufficient in
it provision for those who can qualify
to become benefices of this social
legislation.
1t provides for old age pension for
every needy person over IS to whom
the Federal government would con-
tribute up to SIS a month on a match
ing basis with the States.
In other words, the Federal Gov
eminent will contribute dollar for
dollar with the States, but in no case
beyond SIS for each individual.
In regard to old age benefits, it
would set up a system of by which all
employed persons might start obtain
ing benefits at the age of IS in
amounts contingent upon their own
contributions to this pool sums rang
ing from $3.50 to S85 the month.
Unemployment compensation would
be provided by taxing payrolls to pro-
vide Federal funds for the compensa-
ton systems which the individual
states would set up.
Administration officials contend
that the measure goes the full length
that is necessary to provide a safe,
soundly predicated form of social
security.
They estimate that for old-age pen
sions alone an annuity reserve of
$4,000, 100000 (more than the pres
ent national debt) would be set up
by 1870.
( The unemployment compensation
phase of the bill would apply to
100000 workmen.
Beginning with $500,000,000 in
1887, tax levies to pay for the pro-
gram would be stepped up by stages
until eventually S2.800,OO0,000 year
would be collected.