Salt Lake Telegram | 1935-05-11 | Page 1 | Long Asserts Leaders Want to Pay Bonus

LONG ASSERTS ASSERTS- LEADERS WANT TO P. P A Y BONUS Claims Most Bourbons Share Jesse Jones' Jones By Dr Associated Press W WASHINGTON May 11 Senator 11 Senator Long D. D Df La said in a statement today that virtually all the Democratic Democratic Democratic Demo Demo- cratic leaders want to go ahead and pay the bonus by passing the Patman bill The outburst of ot Jesse Jones and also the admission of Marriner Eccles EC Ec- Ec- Ec cles des favoring the bonus is what all the balance of at the leaders lenders are doing behind the tho scenes he added Long referred to a speech last night by Chairman Jones of the tho Reconstruction Reconstruction Reconstruction Re Re- construction corporation indicating a belief that immediate bonus payment payment pay pay- ment meat might be a good thing Surprise Surprise Surprise Sur Sur- prise was expressed at the White House Eccles governor of the federal re reserve sc- sc serve board testified yesterday t to a senate committee that the Patman bill in itself would create no inflation tion except that derived from a fear psychology that would cause a r velocity of ot funds F Favor For or Payment While r I have not talked to all leaders lenders Long added many of them that have I have talked with in confidence confidence confidence con con- feel teel just as Jesse Jones Jone feels about the matter Jones has some somo Independence about him and evidently doesn't want to be a party to leading the Democrats to slaughter You know he once paid the Demo Democratic Democratic Dem Dem- o party out of ot debt All down the line the tho Democrats are practically universal for this bonus to go on through now It was indicated at the executive mansion that Jones spoke on his own responsibility Jones speaking to a bankers' bankers meeting at Pinehurst N. N C. C said he could not b become come excited about the prospect of immediate payment The capital studied with interest the I portion of ot the speech in which Jones said The t few tV V billions that the government government gov gov- has expended in hi relief relict me measures men mea sureSt I including cl the tho new public works and relief authorization will not be an unbearable b burden nor even the two billion additional ad nd- that jt it seems likely th that t congress may add in payment of the adjusted service certificates to the veterans It appears entirely entirety possible that thai Continued on Pate Page IWO Two BOURBON BONUS BACKING TOLD Continued from Page Pace One congress ma may override a presidential veto veto veto-of of this measure But after after- alt all we voluntarily assumed the debt 10 years ago and paying it now is Js merely anticipating by 10 years something that must at all events be paid Republican leaders predicted flatly flatly flat fiat ly that the Vinson bill which was rejected in both house and senate would b be sent by congress to the president if the Patman bill was killed They forecast also that it would be passed over a veto Backers of the tho Vinson bill which provides for cash payment of ot the bonus but leaves the method of ot fi financing financing ti- ti open have contended throughout the long bonus controversy controversy controversy contro contro- versy that it had a much better chance to pass over a veto than the inflationary Patman bill They made mado this argument to the senate in trying to stop the Patman drive but the senate would not listen Administration leaders who favored favored favored fa fa- fa- fa the Patman bill on the tho theory it was easier to beat discounted the possibility of ct further bonus action after a veto of ot the Patman bill They have maintained throughout that senators would not have another chance at this session to pass pMS a bonus bill