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Salt Lake Telegram | 1932-04-12 | Page 1 | Defeat for Bonus Seen by Leaders

Type issue
Date 1932-04-12
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Rights No Copyright - United States (NoC-US)
Publisher Digitized by J. Willard Marriott Library, University of Utah
ARK ark:/87278/s6wm2n9f
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s6wm2n9f

Page Metadata

Article Title Defeat for Bonus Seen by Leaders
Type article
Date 1932-04-12
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Page 1
OCR Text I T FOR BONUS SEEN BY LEADERS High Sources Predict Loss After Conferences of Party Chiefs RELIEF OPTIMISM GROWS CROWS Coordinated ted Efforts of Government Government Government Gov Gov- Encouraging By fBi United Press WASHINGTON April 12 Confer 12 Confer Conferences have been held among Democratic Democratic Democratic Demo Demo- cratic and Republican members of congress on the subject of the soldiers soldiers' soldiers soldiers' soldiers soldiers' sol sol- sol sol- diers' diers bonus and as a result high sources opposed to the bonus held the view today that it would eventually be lost It was not explained by these sources whether they expected its defeat defeat de de- de- de feat in m congress or whether they believed believed believed be be- it would be vetoed by the president president president pres pres- ident and his veto sustained The administration has been in informed informed informed in- in formed that the movement for the bonus has lost considerably in mo mo- The administration on views the bonus as a menace to balancing the budget OFFICIALS ENCOURAGED Meanwhile officials are being encouraged en en- by the coordinated efforts of or governmental go financial and bUSiness business business busi bUSi- ness agencies to pull the country from rom the mire of or depression It is pointed out that the federal federa reserve board is meeting this week with representatives of the federal reserve banks to discuss the credit and banking situation Other financial agencies are keeping keeping keeping keep keep- ing a finger Inger on the 1 financial pulse o othe of the country it was said f arc are finding further encouragement ement in what the they consider the sincere desire of congressional con con- gressional leaders to expedite passage I Io o of the tax bill I Bonus Advocates Press Their Case CaseBy CaseB By B- nodded Associated y Tress Press WASHINGTON April 12 12 AgaInst Against the united opposition of or administration tion and Democratic leaders in m congress congress congress con con- gress advocates of a cash payment on the soldiers' soldiers bonus today pressed their case before the house ways and means committee Father Charles E E. Coughlin of Detroit Detroit Detroit De De- De- De troit was introduced by Representative tive Patman D D. Texas sponsor of or orthe the measure and read a prepared statement before a crowded committee commit commit- tee room He said the Reconstruction Finance corporation was through both the house and senate to make available available available avail avail- able public funds for financing financiers and strengthening strengthen strengthen- ing tottering railroads Coughlin said that within six weeks of the passage o of the reconstruction act he received over letters saying SAYS U. U S. S OBLIGATED If the government can pay 2 to the bankers and the railroads to whom it owes no obligations obligations obligations obliga obliga- why should it not pay 2000 to the soldiers to whom it reeo recognizes recognizes rec ree- o an obligation Coughlin said to pa pay the bonus would enable millions of ot idle and time part-time veterans to purchase ne ne- ne- ne That would put 2000 into channels of commerce and trade he said It will compel us to revalue the American dollar to the approximate level it attained in 1929 It will Continued on Pare Page Three I fOR BONUS SEEN SEEM DY BY lEADERS Continued from Pate Pue One 1 ably throw us off the gold standard Revaluation of oC the dollar will come eventually either cither legally or We have given iven the last Jast transfusion to the sickly economic system of or this country and soon will wm have a corpse on our hands The Reconstruction Reconstruction Reconstruction Re Re- construction Finance corporation has done little good If we do not revalue the dollar legally legally remember remember Russia of oC 1917 re remember remember remember re- re member the French revolution re remember remember remember re- re member our own revolution of 1775 ADVANCES IAN HUMAN RIGHTS The priest concluded by urging the committee to give precedence to human human human hu hu- hu- hu man rights over financial rights He disposed of oC the action of oC the Detroit Detroit Detroit De De- troit convention of or the American Legion Legion Legion Le Le- Le- Le gion by saying The convention was attended only by those who had train tram fare Senator Thomas D D. Okla presented presented presented pre pre- telegrams rams from legion posts in m Oklahoma urging passage of the bonus Despite the steps that have been taken in the Reconstruction Finance corporation and the Glass act Thomas said money circulation circulation circulation tion continues to decline I venture to say today there is lS less Jess mone money in circulation than ever before I
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s6wm2n9f/15833160