BONUS BONERS

The passage of the Bonus Loan Bill through the Senate appears to be an extremely short sighted move on the part of the representatives of the nation. The bill if repassed over the President's practically certain veto, will mean a demand of approximately one and a quarter billions of dollars on the federal treasure. About two million men, according to General Hines of the Veteran Bureau, will apply for loans if this bill, enabling them to borrow up to fifty per cent on the the face value of their bonus certificates, goes into effect.

The wisdom of such a measure, sanctioned as it is by Congress, is open in general attack. Besides the obvious difficulty of financing the loan, there is some real danger that it will seriously weaken the government's financial position. Also the psychological factor that a measure so perilously resembling the dole may tend to break down national confidence and stability must be recognized. This criticism is particularly applicable as the loan will be available to many men not in actual need at the moment.

That the government has a standing debt to its veterans is unquestionable, and that aid should be given to those in real need in generally conceded. To extend a bonus, however, at this time and include those not in immediate want at the risk of weakening the government and putting a further burden on the whole people, is extremely unwise.