Word: bonus
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Dates: during 1930-1939
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...curt preliminary warning from Commander Ray Murphy to "act your age," such highjinks were far less frequent than at past conventions. Serious members were sobered by knowledge that its 18th convention marked a critical milestone in the Legion's public career. The $1,900,000,000 bonus, its goal of years, had been won nine years before it was due. Would the Legion now follow in the footsteps of the G. A. R., which by 1893 was gulping one-third of the U. S. Treasury's gross revenues...
Bolder was the overlapping American Veterans Association, longtime foe of the Bonus. In a full-page Cleveland Plain Dealer advertisement addressed to the Legion, it roared: "Already the demand has been made in several quarters for pensions for all World War Veterans without regard to length of service, need or disability. We will oppose this demand with every resource at our command. We invite your support in this fight, and urge that your convention declare to the public in unmistakable language where the American Legion stands on this issue...
Estimated expenditures for fiscal 1937 were set at $7,762,835, 300. Only$560,000,000 would be needed to finish off Bonus payments, and less would be spent on the Veterans' Administration, War Department, CCC, and recovery & relief. As for increases, $405,000,000 would be required for Social Security and expenses for AAA, debt retirement and interest on public debt would be up. In addition, the sum of all other expenditures would be $448,986,000 over 1936. chiefly because of public works and national defense. Finally, the President dangled a figure left out of his regular...
Balance. By the President's figuring, the Government's deficit for 1937 would be $2,096,996,300, against $4,763,841,642 for 1936. And all this deficit, said he, would not be added to the public debt. Because of overborrowing for the Bonus and relief, the Treasury had started fiscal 1937 with an enormous working balance of $2,225,112,350. It was planned to spend enough of this during the year to bring the balance down to about $1,100,000,000. And the Treasury would borrow only $750,000,000 of new money. Therefore...
...Knee high in quick cash from the Bonus, retailers reported that, far from suffering the customary summer slump, their sales were up 10% to 17% in June, July, August...