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Show West's Vets Would Receive Huge Sum By Bonus Payment Congressman Asserts Cash Payments Will Bring Prosperity To Nation; Says No Tax Increase Would Be Caused. By CONGRESSMAN PATMAN I sincerely believe that the payment of adjusted-service certificates in cash now will bring immediate prosperity to our nat.inn J say that because we know there is a low per capita circulation cir-culation of money in our country and we know that is causing caus-ing a lack of purchasing- power and that lack of purchasing power is causing our deplorable condition. So anything we can do that will put more money into circulation and give more purchasing power will cause better business and a prosperous nation. $3,000,000,000 Benefit-Payment Benefit-Payment at face value of these certificates now, instead of 1945, as was previously planned, will mean the distribution of over $3,000,000,-000 $3,000,000,-000 between 3,000,000 people. The effect ef-fect on buying would be certain. And there is no good reason why this just debt, which has been publicly pub-licly confessed by the house, should not be paid. Others Got Cash-It Cash-It is a fact that when the war was over war contractors came to congress and, admitting that they did not have legal contracts, got adjusted pay amounting to about $3,000,000,000, arising from claims for payment to service men who worked side by side with civilians on public roads, etc., at a fraction of the civilians pay. The railroads got more than $1,000,000,000 on the same principle. But when these veterans were voted the money due them it was said, "Oh, no; we haven't got the money to pay it in cash." Mellon to Blame I will tell why it was not paid in cash. Mr. Mellon, as usual when veterans' legislation is considered, himself makes an incorrect estimate esti-mate of the condition of the treasury. treas-ury. When it was considered in 1924, for example, he guessed $1,000,000-000 $1,000,000-000 short. How to Pay Now that he war debt has been reduced $10,000,000,000 in 10 years Plans are progressing nicely for the annual Gold and Green ball sponsored by the M. I. A. of Kolob stake, according to announcement by stake offficers. The affair is to be hold February 14 at the high school gymnasium. Members of the Ladies Literary club will be entertained Saturday afternoon, January 31, at the home of Mrs. George Straw. The meeting scheduled fur January 24 having been postponed, WHAT WESTERN STATES WOULD GET SUite Vets Amount Wash 54,292 $ 57,862,128 Calif 191,038 207,481,950 Oregon .....33,932 32,265,084 Idaho 12,894 12,668,040 Utah 13,912 13,695,178 and $7,000,000,000 faster than congress con-gress said it should be reduced, my idea is to divert the payments from the war debt to this other war debt, the adjusted-service certificates. cer-tificates. It is just as much a war debt as any other obligation of our government. Pay it off in three or four years and then continue to pay on the war debt as we have done in the past. No Tax Increase-That Increase-That will not cause an increase in the taxes, not one penny increase, and it will not cause a change In our tax law, not as much as the dotting of an "i." We can go on as we have in the past, and whenever you pay this money and it goes into every nook and corner of America, we will have prosperity. I propose paying face vulue due in 1945, instead of making a deduction deduc-tion as advocated by many. Basis Explained Under the present ruling the veteran vet-eran gels the total daily extra pay for his term of service, mut minus $60, (he amount paid all on the assumption that they had donated their wearing apparel to the Red Cross when they put on a uniform (I object to this deduction). This amount is then boosted an arbitrary arbi-trary 25 per cent and doubled for interest value in 1945. I propose to give the $G0 back to each man, forget the 25 per cent, and compound 6 per cent interest annually from 1918, not from 1925. By this fair calculation 96 per cent of the certificates' face value is due j now, and the veterans should get the extra few per cent for waiting j j.3 long as they have. |