Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-12-22
PAY Off THE PENSIONERS.
Proposal to Settle this Government Bill Once
for All.
l. nefits that Would Accrue TO Pensioners
Where the Government Would
Save Lots of Money.

New York, Dec. 22.-The Press says:
w. +. Rockwell u prominent manu-
facturer of Merlden, Conn, has In view
the presentation OF bill In Congress
through the pension committee for the
funding of the pension appropriation.
This bill according to Mr.. Rockwell
promises to be OF great benefit, not
only to the government in the saving
of many millions of dollars but to the
vast army of pensioners. Mr.. Rockwell
has talked about this plan to President
Mckinley, members of the ways and
means committee and pension officials,
all OF whom. he says, think well Of it.
but they have not decided yet how It
would be received by the country.
Pensioners who have been approach
ed by MI. Rockwell on the subject
aloso think well of the idea and are
inclined TO view 1t in u favorable light.
He has consulted also numerous
bankers, commercial men and life in
surance actuaries who approve the
scheme and admit its feasibility be-
lieving 1t to be entirely practical
BILE.
TT has long been the idea of Con-
gress," said Mr.. Rockwell In speak
ing of his plan to an Associated Press
reporter yesterday, that pensioners
are dependent, whereas, as matter
of fact the great bulk of them are in
dependent Thousands of them are
owners of farms in the West which
are mortgaged, the mortgages bearing
interest anywhere from s to II per
cent. My Idea is to issue negotiable
bonds to the pensioners, or to pay them
amount they would receive from the
expectancy. This would enable them
to pay of these mortgages, thus saw
ing TO them the difference between the
low and the rate of interest in any state,
6 per cent,and the interest on the bonds,
2la per cent. This would relieve them
from their present entanglements.
There are in round numbers about
100000 persons on the pension rolls.
and to those who are not owners of
farms the payment of the entire
amount which, according to my ia
BILE, would be due them would enable
many OF them to start In business and
this in itself would put into circulation
a large amount of money that would
inure to the benefit not only of the
community, in which they reside but
to the country.
1T would also be great saving to
the government in the matter of sal
hlltS anu tNpeHSts since II would 90
away with the pensions office. while
the only expense the government would
incur would be in the issuing OF the
bonds. 1t would also do away with
pension attorneys who receive from
pensioners good share OF their PEN
sions."
Mr.. Rockwell thinks the pension roll
is becoming a greater incubus upon the
treasury each year and that sooner
or later something must be done with
It. He believes this idea in great
measure will relieve the strain While
viewing his plan in a favorable light
Mr.. Rockwell admits that 1t is open
for discussion and he desires to have
brought out any features that may
seem impracticable. To that end he in
vites criticism. After the holidays he
Will have another conference with the
President and Mr.. Bliss and II the re-
suit be favorable his bill will be intro
duced through the pension committee.