The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-12-23
TO CHECK PENSIONS.
Funding Scheme of w. F. Rock
we'll of Connecticut.
PAY THE SOLDIERS IN A LUMP,

They Can Have Either Negotiable Paper
or Cash at Their Option-The Scheme
Would Do Away with the Pension Office |
Machinery and Especially the Pension |
Sharlxs-Banlxers. Commercial Men and
Others Favor the Plan.
Washington, Dec. 23.-W. f. Rock |
well, a prominent manufacturers OF
Meriden, Conn, has in view the pre-
sentation OF a bill in congress through
the pension committee looking toward
the funding of the pension appropria-
ton This bill. according to Mr.. Rock
well, 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 also.
Mr. Rockwell has talked about his
plan to President Mckinley. Secretary
Bliss. members of the ways and means
committee, and to pension officials, all
of whom, he says, think well of it, but
| they have not decided yet how il would
| be received by the country Pensioners
who have been approached by Mr.. Rock
well on the subject also think well OF
| the idea and are inclined TO view 1t In
| a favorable light.
Admit Its Feasibility.
He has consulted also numerous bank
ers. commercial men, and life insurance
actuaries, who approve the scheme and
admit it's feasibility. believing 1t to be
entirely practical
1T has long been the idea OF con-
gress." said Mr.. Rockwell In speaking
of his plan to an Associated Press re-
porter. that pensioners are dependent
whereas as a matter Of fact the grea'
bulk of them are independent.
thousands of them are owners o
farms in the west which are mort
gagged. the mortgages bearing interes
anywhere from to IL per cent MY
. idea is to issue negotiable bonds to th'
, pensioners, or to pay them the cash a
, their option, to cover the amount the'
would receive from the government
hased on life insurance expectancy
This would enable them to pay off thes
, mortgages. thus saving to them tn
; differences between the lowest rate
a interest in any state, per cent. an
the interest on the bonds, 2A per cen
= Many Could Start in Trade.
l
n present entanglements. There are
II | round numbers. about s5ooOo person
"a | on the pension rolls, and to those WI
l., are not owners Of farms the payment
IS the entire amount which accoroins
" my table would be due them wouio e.
,e able mary of them to start In ousines
and this in itself-would put into circ
lation a large amount OF money IN
wonld inure to the benefit not only
20 the community in which they reside
to the country.
eft would also be a great saving
the government in the matter or Sd
III aries and expenses, since II wouia
s. away with the pension office machi
re erv while the only expense the go
IN ernment would incur would pe III
at issuing of the bonds. 1T would also
i'm awav with pension attorneys. VINO
r. | ceive from pensioners a good snare
wv the money paid out for them
he No Direct Interest
va Mr. Rockwell has no interest In u
u hill no saws. beyond the benefit wh
pr ,,ould accrue to the government a
lr- norsioners by its adoption. He tnir
the nension roll Is becoming grea
ms ircuhus upon the treasury each "
in and that. sooner or later, somethl
on, must be done with il. He believes
es- idea in a great measure VIII reh'
te- the strain
ers While viewing this plan in favo
BILE light, Mr.. Rockwell admits ina, !
omen for discussion, and he desires
have brought out any features thar u
go go, seem impractical. To that end ne
M vites criticism. After the MONDAYS
will have another conference WIN
nus nus president and Mr.. Bliss and II 'he
ous suit be favorable his bill VIII De
ms troduced through the pension coihr