Evening star., 1921-06-14
GIVEN
SOLDIER AID BILL
Measure Expected to Reach
Senate Next Monday.
Provision of 5 Plans.

An adjusted compensation bill for
the veterans of the world war. as
drafted by subcommittee of the Sen
ate finance committee. was today re-
ported to the full committee by Senator
McCumber of North Dakota
1t is expected that the bill will be
reported to the Senate following a meet
ing of the committee next Monday. 1t
had been supposed that the bill would
be reported today, but some meEibers
Of the committee expressed desire te
examine the measure as finally drafted
by the subcommittee. .......--..-
The biIl-which has been Commonly
known as the soldiers bonus bill
provides five alternative plans for
giving the veterans adjusted COM
pensation." The first is a cash settle
ment Of 81 for each days service in
this country and $1.25 for each days
service abroad. exclusive Of the first
discharge the men were given two
months extra pay-$60. The cash
payment, il $500 or over. is to be made
in ten quarterly installments. If less
installments of $50 each. A limit is
fixed of $500 for soldiers who served
in this country and $625 for those
who went overseas.
The second plan-"adjusted service
certificates"-gives the veteran the
the end Of twenty years. II he chooses
this insurance plan he will receive as
the basis of his adjusted pay a sum
40 per cent greater than the cash
plan, and this sum will bear interest
at the rate of Az per cent, compounded
prior to twenty years his estate will
receive the amounts of the adjusted
pay and interest compounded annually
for twenty years.
Can Borrow ON Insurance.
The veteran can borrow against this
insurance. II the loan is made be-
tween July /. 1924. and July I, 1927.
he can borrow 80 per cent of his ad-
justed service certificates, with AZ
per cent interest compounded annu-
ally up to the date of the borrowing.
If the loan is made after July 1. 1927,
he can borrow 80 per cent of the ad-
justed service certificates with 4h per
cent interest, compounded annually.
On these borrowings he will pay 4E
per cent interest, the same as he is
allowed on his adjusted service GER
tifcateS.
The third plan authorizes the vet
eran to receive vocational training at
the expense of the government to an
amount equal to his adjusted service
pay plus 40 per cent.
The fourth plan authorizes the vet
eran to receive from the government
the adjusted service pay plus an ad-
ditional 40 per cent toward the pur-
chase Of farm or home.
/ The fifth plan gives the veteran
preference right to take lands on the
opening Of public or Indian lands to
entry. or the restoration of public
lands to entry and on all reclamation
projects.
Payments Set to Begin in 1922.
Under the terms Of the bill. none Of
the payments are to be made until
after July I. 1922. The committee in
its report will declare that it believes
the lapse of this interval will enable
Congress to work out a satisfactory
method of financing the payment Of
the adjusted compensation. 1t is es-
timated that the entire cost of the
adjusted compensatory. II the veterans
ali elected to take the cash. would be
81 $50, 100000, and II they all elected
to take the certificate plan, with no
borrowings, $5.27s,345.563. The first
is regarded as the minimum cost and