Evening star., 1935-05-08
A Veto in Order.

a veto IN UrQer.
When the Senate elected to pass
the Patman "greenback" bill it sealed
the fate of bonus legislation for the
present session of Congress-unless,
indeed, President Roosevelt should
change his position and sign, instead
of veto, the bonus bill. Having re-
peatedly stated that he was opposed
to this measure on the ground that
the money which it is proposed to
pay the veterans is not now due and
also that the present payment would
put a great strain on Government
credit, it is inconceivable that the
President will give his approval to the
measure. A third argument against
It's approval lies in the fact that it
printing presses to make the money
with which the veterans are to be
paid more than two billions of dollars
Once the printing presses have been
started for such a purpose, how easy
to keep them going for the payment
of other obligations of the Govern
ment. And with imitation of the cur
rency the disasters which the country
has faced in recent years will be null
tiplied.
Fortunately the President stands
ready to veto this measure. The vote
in the Senate yesterday indicates that
it cannot be passed over his veto.
Thirty-three Senators were recorded
as voting against the bill and one
Senator, Tydings of Maryland, was
paired against it, total of thirty
four votes assured against the bill.
Furthermore, several Senators who
voted for the Patman bill yesterday
are expected to vote to sustain presi-
dental Veto While the House may
give the necessary two-thirds vote to
pass the Patman bill despite the dis
approval of the President, such vote
clearly cannot be obtained in the Sen
ate.
1t may be immaterial now to con-
slider what might have happened had
the Senate substituted the Vinson bill
for the Patman bill and passed the
latter. However, the democratic sup
porters of President Roosevelt in his
opposition to the> immediate cash
payment of the bonus adopted
strategem which made it impossible for
the Vinson bill to be supplanted for
the Patman measure.
Before the vote to substitute the
Vinson for the Patman bill was taken
Q former Democratic Secretary of the
Treasury, Senator McAdoo Of Cali
fornia, arose in support of the latter.
He declared that not only would the
issuance of the greenbacks to pay the
bonus not harm the currency of the
United States, out that it would be
preferable to the issuance of interest
bearing Government bonds to raise
the money for that purpose. Ques-
toned by Senator Vandenberg of
Michigan, the Californian was un-
willing to say that the Government
should issue greenbacks to pay, for
example, the expenses Of the $5,000,-
oo0, 900 relief and work-relief act Just
become a law. When pressed to do
SO, he was unwilling to attempt to fix
the limit to which the Government
should 60 in the issuance of green
backs, saying that if he knew what
initiation was he would fix a limit.
Currency imitation is a dangerous
expedient. 1t has proved so in many
countries, on many occasions. The in
flationists would drive America along
that course today, if they had their
way. The Patman bonus bill has had
their solid support in Congress. While
1t is only an entering wedge, it might
In the end breach the wall, and when
the full flood of currency imitation
strikes it sweeps everything before it.
The President should veto the Patman
bill.