Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1920-02-05
COMMITTEE TO PREPARs BILL
CALLING FOR LOANS TO
Ex.sERvlcE MEN.
WOULD ENABLE ALL TO
BORROW UP TO $4,000
Loans Would BE Made For Purpose
q Buying Either Homss or Home
steads-Morgan Bill Favored Gen.
orally and Urged as Sound in Prin.
ciple-loans Over Long Period.
[By z. @. Dougherty.l

Washington. Feb. 5.--The hard
drive being made all along the line
for curtailment OF federal appropria-
lions will in no way deter the Amer
lean Legion from vigorously demand
ing from congress the early Inaugural
ton of a land development and home
aid project for the benefit Of ex-ser-
vice men, members of the legislative
committee Of the legion declared to-
day.
At the same time announcement
was made OF the appointment by
Commander D'Oliver Of the legion's
committee on land and home aid in
compliance with n resolution adopted
at the Minnespo polls convention. This
committee includes Albert SprRgue,
Chicago; David p. Barrows, San
Francisco; Galloway Harrison, Little
Rock. Ark. and Gilbert Beetman. Gin
cinnaG,
This. committee will meet in Indeian-
apolis Feb. Is and proceed immediate
ly to formulate the outlines OF a
scheme OF land settlement and other
aid that will be satisfactory to the
former service men. When this Is
done. the legislative committee. which
maintains permanent offices In
Washington. will inaugurate a vigor-
Gus campaign to put It thru congress.
Altho. there is much sentiment
among legion members in favor of a
liberal cash bonus for all service men.
in lieu Of all other plans for their
benefit and reward, 1t is regarded as
certain that the newly appointed
committee will reject all cash pay
ment suggestions. Indeed the Min
neapolis convention ignored the bonus
idea. but did declare in favor Of d.
rect loans to former service men for
the purchase Of both farm and city
homes as we'll as in favor Of reclana-
ton and development projects by d.
rect government action and thru
loans Of government credit"
Morgan Bill Calls For Millions.
Many legion men think that the re-
quirements of the federal aid plank
adopted at Minneapolis are satisfac-
torily met by the Morgan bill ana
there IL evidently widespread
propaganda in its behalf. This bill
makes II possible for every one OF the
4, 900 900 odd ex-service men TO bor-
row $4,000 from the government to
buy a city or farm homestead and
has no reclamation provision what
ever. tho the government corporation
that Is TO administer the act Is en-
powered to purchase tracts Of farm
land to subd.vide into farms and OF
Suburban land to subdivide and I'M
prove.
II every service man were immedi-
ately to avail himself of the privileges
of the Morgan bill. in the event that II
became a law. Il would require the
expenditure Of $4,000. ooo,oo which
would be paid of in the course Of six
ty years with interest at 81 per cent
per year The bill IS to be started
rolling with an appropriation Of $780,
600 600 and is to be kept rolling thru
guaranteed bond issues secured by
the mortgage Of the purchasers OF
lands or homes and the secretary OF
the treasury is required to, purchase
not more than 80, 100000 Of such
bonds yearly. When 50 per cent OF
the loan has been repaid the bene-