Salt Lake Telegram | 1935-05-07 | Page 1 | Patman Bonus Measure Wins Senate Approval

v I BONUS MEASURE PATMAN MAN 1 11 1 i SENATE APPROVAL WINS Inflation Bill Substituted For Vinson Scheme After C Compromise Is I s Rejected t Final Vote Is Js 55 33 Y Yeto to Promised by President By Dr Associated Press WASHINGTON May 7 In 7 In the face of a promised veto the senate today joined the house in voting for lor forcash forcash c cash U h payment of 01 the soldiers soldiers' bonus by a issue of new currency cur cur- rency T The e bill was was passed by a vote of ot 55 53 to 33 After a few formalities the measure ure will be sent to the White WhiteHouse WhiteHouse WhiteHouse House for an almost certain veto The Patman bill had earlier b been en substituted lor or the Vinson bill by a 52 35 vote ote The Patman bill provides es a 2000 issue of ot new new currency to pay the bonus The Vinson measure would pay of off the bonus but leave to the administration determination of ot how to raise the money The Patman bill already has been passed by the house As Ac the vote was taken telegrams inspired by Father Charles E. E Coughlin Cough Cough- lin jn of ot Detroit still were pouring into senatorial offices They backed the Patman bill Elan Veto Tactics Ch Chairman irman Harrison of f the senate finance committee and other administration admin admin- leaders voted fo for th the Patman Pat Pal man bill billon on the theory it wo would ld be easier to tc sustain ia a veto on Ion it than on the Vinson Vinn measure President Roosevelt was expected however to veto the measure which would bring a test of str strength to determine de- de determine de de- termine whether there e e W was sufficient support for the bill to pats pass it over a veto Previously by a 54 5 to 30 I vote less ss than the two thirds required to civer- civer over override ver ride a presidential veto veto the the senate enato substituted the Vinson payment cash plan backed by the American legion for the compromise offered by Seanor Senator Sena Sean tor or Harrison CD D D. Miss The administration has warned that congress must provide funds for any new appropriations voted beyond budget estimates Secretary Morgen Morgen- thau has proposed an inheritance nce tax as the best method of raising addil additional addi addi- additIonal l money As Vice President Garner announced announced announced an an- the vote on the Vinson bill administration leaders raised their hands calling for a vote on the Patman Patman Pat Pat- man bill Senator Thomas D. D Okla Inflation tion lion leader of ot the senate declared both bills called celled for full cash payment pay pay- payment ment of the bonus and in that re regard regard re- re gard were identical but the Vinson bill would take longer to administer and the payments would be delayed Predicts Delays The Patman bill bUt Thomas Thoma said laid would refund all interest paid on on loans since 1931 but the Vinson bill would repeal oil all interest ever bo borrowed hot bor rowed on bonus loans That he said would require long computations and delay lelay the payment of ot the bonus f for r several everal months Senator li Long ng D D. La who is joining jo join join- ing Thomas in the thc battle for the Pa Patman Pat Pat- man nan bill supported this this this-st stand by the tho Oklahoma senator Senator McAdoo D D. Cat former secretary of the treasury advocated paying saying of off the bonus und under r the Patman Pat Pat- t. t man nan bill with new monc money He said the he Vinson bill would call for lor a bond issue that would require o of if interest annually Under that pr pro proposal otI he said the government could pay ay in 20 years and till still owe the She original Under the Patman bill a 1 sinking i Cund und una could be set up by which th thine th currency Issues prop proposed In lathe the measure neasure c could uld be he retired in 20 year ea s by ay y paying a year e r he j- j I