Word: bonus
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...only $518,000,000, exclusive of work-relief expenditures. They promised rising revenues, falling expenditures, dwindling deficits. While his budget message was being read, the Supreme Court handed down its AAA decision depriving the Government of $547,000,000 annually in processing taxes. Within three weeks Congress authorized a Bonus expenditure of $2,250,000,000 over his unemphatic veto. Franklin Roosevelt therefore faced the probability of a Federal deficit exceeding any other of Depression...
...present time the administration in Washington has done more to advance the flames than control them. True, the President seems unlikely to devalue the dollar further. But rapidly mounting deficits, which have saturated the banks with unused credit,-witness the bonus,-endanger the college funds just as much as devaluation undisguised. If the present trend continues unabated, a large part of the endowment may ultimately go up in smoke. The responsibility for avoiding such a disaster rests squarely upon the trustees...
...routine matter the President sent word to Congress that it would have to appropriate $2,249,000,000 to pay the Bonus, in addition to the $12,000,000 expense of distributing it. Then he called in his advisers to consider what taxes should be imposed to raise the money when Congress appropriates...
...priced at $10 a head to raise the $550,000,000 required to pay for the New Deal's AAA substitute and the $200,000,000 in processing taxes ordered refunded by the Supreme Court. To raise the $2,250,000,000 required to pay the Bonus, there would have to be another birthday ball with tickets at $30 a head. The gentlemen in the President's office had, however, come to talk not of balls but of taxes. Although it was less than a month since the President told Congress that no new taxes would be needed...
...Oakland, Calif, from Washington went Texas' chubby Representative Wright Patman, loud friend of the Bonus, loud foe of chain stores. At the invitation and expense of the Allied Independent Merchants & Home Owned Businesses of California, Representative Patman crossed the Continent to get into a hot fight over California's new chain store tax. The Independent Merchants understood that, in the absence of the Press, Mr. Patman would give their annual convention a fighting speech against chains. Mr. Patman understood that he would be met at the station by a delegation of Independent Merchants and a band. Stepping expectantly...