Word: smoots
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...sure as God lives and the sun rises in the morning there will be a soldier bonus law passed by the next Congress. Instead of talking about reducing taxes, the real problem is how to raise the funds for the bonus!" -Senator Smoot of Utah...
...regards a bonus, Senator Smoot's declaration is an interesting prediction-and one that is not unlikely to be fulfilled, because of the large increase of "insurgent" members in the next Congress. As regards taxes, the Senator's words are more than a prediction-they are an announcement. Senator Smoot, according to seniority rules, will be next Chairman of the Finance Committee and so-called " watch dog of the Treasury." In that position he will have an important voice in deciding the tax program for next year...
...truth is that as yet neither of these things has happened. The only two prominent Republicans who openly voiced their opposition to the President's remarks were Senators Borah and La Follette. A larger number of Republican Senators-Smoot, McKinley, Sterling, McNary and others-came out openly in favor of the President's proposal. Several important Republican leaders kept scrupulous silence-and in some cases it was a silence of disapprobation. Senator Moses, chairman of the Republican Senatorial Committee is in Europe-but an irreconcilable. Representative Wood, chairman of the corresponding House committee, is known to be opposed...
...Significance. Mr. Harding's interpretation of the law is important because it gives the Chief Executive wider power over the tariff than was intended when the law was drawn. Only half an hour before President Harding met the Tariff Commission, Senator Smoot, who was responsible for the elastic provision of the Tariff Act, called at the White House and told the President that Congress had no intention of giving the Tariff Commission general permission to rewrite the tariff...
...prospects of tax reductions are remote. The day following the Cabinet meeting Senators Watson and Smoot, heir-presumptive to the chairmanship of the Finance Committee, called at the White House. They oppose any attempt to alter the present tax law at the next session of Congress. Senator Smoot expressed his sympathy with the President's suggestion, but regarded it as " premature." The anxiety of the two Senators is obviously due to the political unwisdom of such a move. If any tax measure is brought up in Congress, it would fall among "radicals," as pointed out in TIME last week...