Word: bonus
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Reports from Washington indicate that the President's veto of the Patman Bill will probably be upheld by the Senate. But the bonus champions indicate they have just begun to fight. If the Patman measure does fail, other bonus bills will be waiting to be rushed through--this time as a "rider" attached to one of the administration's pet appropriation measures. These new bills, it is rumored, would give the Precident greater freedom in choosing means of raising the two billion dollars. He would be allowed to draw from the four billion relief fund, or borrow the necessary cash...
Whatever means are devised for paying off the soldier's certificates, the bonus bill will still remain a purely selfish bit of class legislation. As such it is as great a vice as the inflation it eventually would cause. Today the majority of the country look to the President in his speech to the Senate not only to expose the evils of the bonus measure, but once and for all vigorously to denounce those sectionists who have been intimidated into yielding to the unjustified demands of a single group. Mr. Roosevelt will need all his powers and public support...
...Vinson ("sound") Bill and the Patman (greenback) Bill had to be made. Before the vote was taken Bennett Clark got to his feet, declared: "All I say is that this is a naked issue between those who favor the authorization by Congress of the full payment of the Bonus and those who favor tying up the proposition . . . with an entirely separate subject [greenbacks]." The inflationists took him at his word. Elmer Thomas, Huey Long and friends who had voted for the Vinson Bill a few minutes before promptly plopped against it. The Patman Bill won, 52-10-35, because...
...Patman Bonus bill, which President Roosevelt was in good faith bound to veto. Priest Coughlin predicted: "It would be political suicide for the President to veto the Patman bill. He is too clever a politician for that. If he does veto it-." The priest shrugged a disclaimer for the President's fate in that event...
...last month the highest corporate salary & bonus for 1934 reported to the Securities & Exchange Commission was $250,000 paid to George Gordon Crawford by Jones & Laughlin Steel Corp. Last week's revelations gave top place to President Thomas John Watson of International Business Machines Corp. with $365,358 or $1,000,98 per day. Some were surprised to discover that Super-Salesman Watson has only $1,000,000* invested in the huge company which he created and from which he draws so regal a stipend...