MCADOO CONDEMNS MELLON'S 'DISTORTION' OF HIS POSITION ON BONUS
Washington, D.C. (JFK+50) Former Secretary of Treasury William G. McAdoo has issued a statement condemning current Treasury chief Andrew Mellon of distorting his position on the Bonus*.
Mr. McAdoo, who is a candidate for the Democratic nomination for POTUS in 1924, charges republicans in general have flagrantly misrepresented his position.
According to Mr. Mellon, McAdoo's bonus proposal would cost $4,000,000,000. Mr. McAdoo counters that according to Senator Joseph S. Frelinghuysen's** estimate cash payments under the McAdoo plan would total only $1,548,000,000.
The former Treasury secretary calls on Democrats to "pound the truth into the people."
*The World War Adjusted Compensation Act, a.k.a. Bonus Bill, passed on May 19, 1924 granted financial benefits to veterans of WWI.
**Joseph S. Frelinghuysen (1869-1948) was born in Raritan, New Jersey & served in the Spanish-American War. JSF served in the US Senate 1917-1923 but was defeated for re-election in 1922.
SOURCE
"M'Adoo Bitterly Assails Mellon," by Frederic William Wile, The Evening Star, Washington, D.C., January 9, 1924, Chronicling America, Library of Congress, www.loc.gov/
