The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1921-06-16
EXPECT BONUS
FOR VETERANS
TO PASS SOON
Penrose Predicts Bill Will Pass
During Present Session
Believe Senate Committee
Will Act Favorably.
PROVISIONS OUTLINED
PALLADIUM NEWS BUREAU

able report on the soldiers bonus bill
having been submitted to the senate
finance committee by the sub-commit-
committee is expected to act favor
ably on the measure within a short
time.
Senator Penrose, chairman of the
finance committee, has predicted that
the bonus bill will become law be-
fore the close of the present session OF
congress, but not necessarily in its
present form.
A cost table which the sub-commit-
tee has prepared shows that if every
veteran should accept the cash bonus
plan, as provided in the bill as it is
now written, the total cost would be
$3.50, 166,330. of which s456,5 500
would be appropriated in 1922, $685.
656,62o in 1923. and $276.937,900 in
1924.
II the certificate plan for which the
bill provides should be accepted by
every veteran. the total cost to the
government between 1922 and 1943 in
elusive would be s5,273, ,345,563.
Under the cash plan or the insur-
ance plan, for which the bill provides,
no payments would begin until after
July /, 1922.
Measure Explained.
The measure is explained by the
subcommittee as follows:
by act of congress at the time of
the discharge of our soldiers they
we're given two months extra pay, or
$50 each. Therefore, in the bill which
passed the house in May, 1920. as in
this bill, so 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
so days are deducted from his home
service. .....
The bill then gives 81 a day for
each days in the United States and
S125 a day for each days service
overseas, exclusive of the said so
days. This is the cash plan provided
in title two and is called adjusted
service pay" The cash payment il
$500 or over Is to be made in 10 quar-
terly installments. If less than $500,
it is to be made in quarterly install
ments of $50 each.
Title three, adjusted service GER
tificates,' gives the veterans the op-
ton to take insurance payable at the
end of 20 years. If he chooses this
insurance 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 four and one-half per cent per
annum, compounded annually. In
the event of his death prior to twenty
years his estate will receive the
amount of such adjusted pay and in
terest, compounded annually for 20
years.
The veteran can borrow against
this insurance. If the loan is made
between July /, 1924. and July l, 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 I. 1927, he can Dor
row so per cent of the amount of the
adjusted service certificates, with AZ
per cent interest, compounded annual
ly. On these borrowings he will pay
Az per cent interest, the same as he
is allowed on his adjusted service
certificates.
Vocational Training.
Title 4, 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 5, 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 O.
such home or farm.
Title 6, Land settlement aid give:
the veteran preference right to take
lands on the opening of public or In
dian lands to entry or the restoration
to entry of public lands and on al
reclamation projects now in existence
or hereafter established, whether sucf
reclamation is made by irrigation
drainage or otherwise"
May Select Plan.
The veteran at his option may selec
any one Of the FIVE plans provided il
the bill.
II is explained by the sub-committe,
in its report that the purpose of th'
till is not to express to the veteran
the nations gratitude by money gift
II is just what its title reads. a bill
to provide adjusted compensation.
The purpose of the bill is to Civ,
to the soldier who offered his life witt
his services compensation that vii
more nearly approach that of the lat
orer who remained at home, secur
from danger. and whose compensation
increased from 200 to 500 per cent an
measured by the amount of labo
actually performed. far beyond thos
figures" reads a curt statement in tn
subcommittee report.
The subcommittee believes that th
interest on the allied debt to thi
country will more than care for tn
annual payments to the veterans Tn
subcommittee dismisses the assumr
ton that the enactment of the bill viii
load upon the backs of an already ez
cessively tax-burdened public an i'm
mense additional liability.