PRESIDENT HARDING SAYS A VETERANS BONUS NOW WOULD IMPERIL U.S. FINANCIAL STABILITY
Washington, D.C. (JFK+50) On July 12, 1921, President Warren G. Harding informed the United States Senate that payment of a bonus to veterans of the recent world war would "greatly imperil the financial stability of our country."
Mr. Harding added that...
"every obligation is to the disabled and dependent."
According to the President, the growth of indebtedness or the limits of expenditure were "little heeded" during the war "because we could not stop to count the cost. Our one thought was...the survival of the nation."
Before considering payment of a bonus to veterans, the President said three things needed to be addressed....
1. revision and reduction of internal taxation
2. refunding of the war debt
3. adjustment of our foreign loans
President Harding emphasized...
"Overburdening of the Treasury now means positive disaster in years...before us."
SOURCE
"President Tells Senate Bonus For Veterans Now Would Imperil Treasury," The Evening Star, Washington, D.C., July 12, 1921, Chronicling America, Library of Congress, www.loc.gov/
