Show BONUS BULL BILL BLOCKED by a vote of 47 to 29 the senate sent the soldiers bonus bill back to the fil finance lance committee in accordance with the wish of president harding who ilas has done no more courageous thing than to come out in the open and ask postponement those who have always intended to oppose the bonus believe the president would have strengthened himself and and his position if lie he had flatly opposed the bill on grounds of policy rather than merely to have asked for postponement but in any event it has been the request of the resident which resulted in it preventing the passage of the bill through congress congress at this time and the president has announced that he stands ready to take full responsibility for blocking this legislation lie he displayed more nerve than the majority malor tty of senators and members in doing what he did and arvel dentally he took from their shoulders the responsibility of doing what they lacked the nerve to do the manner in which the president and secretary of the treasury held up the soldier bonus bill whether so intended or not is bound to result in a careful consideration ot of this measure measure by the country at large the president and secretary clellon clellon bave drawn attention to the tremendous cost which lies back of this bill and they have emphasized the tact fact that no one at this time ran can give even a reasonable estimate of how the bonus would cost the lowest estimate ever made was 1500 the american legion legislative committee made an estimate higher than this thin but the secretary of the treasury showed that this bill if enacted would entail an ex expenditure pend iture in the end of probably not less than ithan and that it might cost in excess of 50 0 any legislation which la is going to impose a charge of to on the federal treasury at a time when the cost of government Is higher than ever before in its history and when taxes are higher than ever before necessarily must be followed by the levying of additional taxes or else the issuance of new government bonds which ifould only be floated in large volume at a rate of interest higher than that carried by liberty bonds issued during the war As the secretary of the treasury showed the issuance of new bonds to mett meet the cost of the soldier bonus would further depreciate the price or of liberty bonds and such a depreciation would be felt according to treasury department apartment part ment statistics by more than american citizens several ey times the number who would be benefited through the payment of a cash bonus the postponement of the bonus legislation now gives congress an opportunity to enact a new tariff law and to revise the tax laws and to get those hose revisions la in operation before it again gives consideration to the bonus until the now new tariff and the new tax laws become operative the american citizen will not know whether the governmental burden him is going to be increased or diminished lie ile cannot tell from the debates now going on in congress for contentions are made both ways during the last campaign the republicans public Dubli ans cans promised to reduce taxation now that they are in charge of the government and find the heavy financial burdens which must be met there are many among them fair minded enough to say at this early day that they do not see how taxes can be reduced at least at this time it la is possible that through the rewriting of the tax laws aws the burden may lie be readjusted so as to tall fall more lightly upon the average citizen but no tax program whatever has been shaped as yet and until it is there will be no way of telling how burdensome the taxes of the future are to be tribune salt lake |