The Washington times., 1921-06-06
WALSH SELECTS
|. TWO PLANS FOR
SOLDIER BONUS
Believes Action Will Be Taken
by Government In a
Few Weeks.

NEW YORK. June s.-FsvorabIS
action by Congress within the next fsw
weeks on the adjusted compensated. -
bonus bill was predicted today ~
United States Senator David L waIsh.p
He issued q Staunent here.
The Senator said q sub-committes
OF the Senate Finance Committee hal
been appointed to prepare the neces-
sary legislation. He added that what
opposition there formerly was in
Congress against the soldier bonus had
disappeared.
A FAIR CONFIRMATION.
Senator Walsh said the condition Of
the Treasury would not allow Con-
gress to pay veterans an amount that
would make up the difference betweea
their pay and what the average worker
who stayed at home received. He
said he knew the veterans did not
ask this but only wanted an adjust
ed compensation that would be fair.
He added:
The finance bnI win. in my
opinion. contain among other options
the following principal features.
First adjusted service pay Of
ii per day for each days home serv-
Ice and $1.25 for each days overseas
service during the war in excess of
sixty days. Said sum, IL more than
$500. to be paid in ten quarterly In
stalments, beginning July /, 1872, and
IL less than $500, in quarterly In
stalments of $50. The limit OF ad-
tusted service pay for home service
will not exceed $500, and the over
seas service pay will not exceed $625
to any one person.
THE CERTIFICATE PLAN.
Second, an adjusted service in
surance certificate plan will be In
stftuted. This plan may be best un-
derstood by a concrete illustration.
Assuming a soldier Is entitled to
home e-service adjusted pay of 500. the
Government increases this 40 per cent,
making the face of the certificate
$500. On this certificate there will be
an allowance for Az per cent interest
per annum. compounded for twenty
years. The holder of this certificate
may at any time borrow at ~ per
cent interest so per cent to 90 per cent
Of this certificate In the event Of
death. the whole amount of the GER
tificate survives at the end of twenty
years 1t will pay the whole amount
of the certificate. plus compound in
terest, which in the case illustrated
would amount to about S1.125.
"Officers above the rank OF captain
in the army and marine corps and
lieutenants in the navy will not be
included in the provisions of this bill.
AZ might add that the total cost
to the government of such legisla-
ton would be, IL practically all ac-
cept the cash payment plan, between
81 900 900 900 and $1,000. 900 900. II
the great majority of the veterans
accept the certificate plan, which II
is believed Is most favorable and
most likely to be chosen, the cost
will be about $4,000. .000, 900. spread.
however. over q period Of twenty
years.
FUNDED By DEBT INTEREST.
.The interest alone on the debts
due this country from our war asso-
ciates, which Indebtedness now is
about $4,000. 900 900, will be more
than enough to take care of the
obligations arising out of this bill,
without any increase whatever in our
taxes
aTt is my opinion that an adjusted
compensation bill for our war
veterans when understood win be
universally approved by the Ameri-
can people and II will tend to pro-
mote a fine spirit Of good will among
our war veterans and in a measurs
dispel the altogether too widespread
feeling that we have forgotten our
boasts and promises made to them
during the war"