New-York tribune., 1921-06-14
Bonus Measure
Gets Favorable
Report To-day
Senate subcommittee TO Rec
ommend Finance Board
Support Soldiers Bill
as Presented Originally
Provides 5 Payment Plans
penrose Predicts 1t Will Be
Carried at Present Term.
With Possible Changes
're-, tn. TrBur.,s Washington gry.a,

RON
WASHINGTON, June 1S.-The Sen.
ate Finance Committee at q meeting
tomorrow will receive report from
The subcommittee, headed by Senator
McCumber, which has been considering
the soldiers bonus bill. The sub-com-
mistee will report favorably on the bill
as it was offered in the Senate. with
amendments, and will recommend
passage.
Senator Penrose, chairman of the
Finance Committee. predicted to-day
the Finance Committee would act
favorably on the bill and that it would
pass Congress this session, though not
necessarily in it's present form.
A cost table prepared by the sub
committee shows that if every veteran
should accept the cash bonus plan the
total cost would be S1.560, 0,166, $50, of
which s456.571.S0 would be appropri-
ated in 1922, SS26.656,620 in 1923 and
s2T6, ,937 300 in 1924.
If the certificate plan for which the
bin provides should he accepted by
every veteran the total cost to the
government between 1922 and 1943 in
elusive would be S5,27S,345,563.
No Payments Before July, 1872
Under the cash plan or the insurance
plan, fer which the bill provides, no
payments would begin until after July
]. 1922. The bill is called "the vet
srans' adjusted compensation bill" and
the subcommittee, pointing out that it
provides for five different plans for
such adjusted compensation. explains
the measure as follows:
by act of Congress at the time Of
the discharge OF our soldiers they were
given two months extra pay, or $50
zach. Therefore, in the bill which
passed the House in May, 1920, as in
this bill. sixty days are deducted from
the service of each soldier and sailor
at home or abroad. If he had such
service both at home and abroad the
sixty days are first deducted from his
home service.
"The bill then gives 81 q day for
each days service IN the United States
and $1.25 a day for each days service
overseas. exclusive of the said sixty
days. This is the cash plan provided
ice pay The cash payment, if $500
or over. is to be made in ten quarterly
instsllments. If less than $500, it is
to be made in quarterly installments of
$50 each.
title 8, Adjusted Service Certifi-
Gates, gives the veteran the option
TO take insurance payable at the end
Of twenty years. If he chooses this in
surance plan he will receive as the
basis of his adjusted pay sum 40 per
cent greater than the cash plan and
this sum will bear interest at the rate
of 1 II per cent per anuum, compounded
annually. In the event Of his death
prior to twenty years his estate will
receive the amount OF such adjusted
pay and interest, compounded annually
for twenty years.
Can Borrow Against Insurance
"The veteran can borrow against
this insurance. If the loan is made
between July l, 1924, and July /, 1927,
he can borrow 80 per cent of his ad-
'justed service certificates, with Az
per cent interest, compounded annual
ly, up to the date of the borrowing; if
made after July l. 1927, he can borrow
80 per cent OF the amount of the ad-
justed service certificates, with 4 y per
cent interest, compounded annually.
On these borrowings he will pay 4is
per cent interest, the same as he is al
lowed on his adjusted service certid-
Gates.
"Title ", vocational training aid,
authorizes the veteran to receive vo-
cational training at the expense of the
government to an amount equal to his
adjusted service pay plus 40 per cent.
"Title V, farm or home aid,' author
ICES the veteran to receive from the
government the adjusted service pay
plus an additional 40 per cent. to be
applied toward the purchase price OF
such home or farm.
Title VI, the land settlement aid,
gives the veteran preference right to
take lands on the opening of public or
Indian lands to entry or the restor-