Capital journal. (Salem, Or.) 1919-1980, 1921-06-01
OREGON First Again

Among the important bills to be voted upon the refer
endum election next Tuesday the constitutional amendment
authorizing soldiers bonus BILL fathered by the American
Legion The authorizes bond $30OO0O0O
to make long time low interest loans of not more
than $4,000 to former service men, be paid as bonus
OF $5 for each month of service but not exceeding
5000 to each honoraby discharged soldier sailor marine
An additional annual of two mills to pay interest and
principal of such bonds is authorized
The two mill tax present valuation would yield $4,000
600 year The legislative enabling act however passed at
the last session, limits the individual loan $4,000 and pro-
vides for mill levy Whether or not an enabling act
can be passed by legislature before the constitutional
amendment puts into effect voted upon is question:
for the courts to determine Constitutional amendments are
not usually retroactive.
The intent of the to render financial assistance
to Oregon veterans of the world can borrow up
to $4,000 at percent interest," provided real estate
security The loan not exceed rs percent of the ap
praised valuation The real estate need necessarily
long to the soldier, but may be owned by his wife, father
mother child brother sister The borrower repay
the loan in nsalments Of percent per annum which
percent applies interest and percent principal which
would take % years to pay.
The loan feature of the be taken advantage
of only by those who have property whose family have
property Others will cash bonus amounting $15
for each month"; except the first 60 days of service The
main objection to- the loan feature that too high per-
centage of the value is advanced to safeguard the state and
that too much property is apt to revert to the state in
quence of the inability of the beneficares to make good
should however, provide opportunity for the Industrious
to establish homes.
Some twenty states have already authorized bond issues
for soldiers bonuses and the aggregate authorization already
totals $37O000O00 Of these bond issues, $780,
100000 have already been marketed Illinois has authorized
$55 500000O New York. $45O0O000; Pennsylvania $4,000,
000 Michigan, $30000000 Ohio and Kansas each $685.
000 Iowa, 100000; Wisconsin and Minnesota, 0000
600; California, $18O0OOOO; New Jersey, $17,OOOOOO
Washington, $15000000
1t will be from the above that Oregon the Beth state
in population and property, is making liberal pro-
vision for her service than states many times her i'm
porance and ranks well up with those states furnishing
many times many Indeed, when proportions
considered it is another time that Oregon first in making
special provision for her veterans
In addition to many state bonus measures, national
campaign by the American Legion has been conducted for
the past year and is still being energeticay pushed with
prospects of for cash bonus from congress- est
mated from $2OOOOOOOOo $5OOOOOO OOO ques-
ton that vtay affects the national finances This accounts
for the reluctance to pass the measure
Those oganbery who declare that they will let
the berries remain unpcked rather than sell for less than
six cents only inurng themselves There is money f.
ogafberres at five cents and if only