The Omaha morning bee. [volume] (Omaha [Neb.]) 1922-1927, 1922-09-01

tof the veteran plus interest AZ ~
per cent year from the date Of the
certificate 20 the date OF the loan.
Ii the loan were made at any time
more than three years after and not
more than six years after the date
Of the certificate the sum could not
exceed IS per cent OF the adjusted
service credit plus interest at Al
per cent from the date OF the cer-
tiiicate 10 the date oi the loan.
II the loan were made az any time
more than six years after the date OF
the certificate, the sum could not es-
eeed 70 per cent OF the adjusted sery.
ice credit increased by 2S per cen,
plus interest at ~ per cent from the
date OF the certificate 10 the date OF
the loan.
Would Repay Loan.
The veteran would repay the loan
upon an amortization plan by meanc
OF fixed number OF annual Install
ments sufficient TO cover interest on
the unpaid principal at the rate OF ~
per cent and such amount OF the
principal as would extinguish the
debt within an agreed period not ex-
eeeding the life OF the certificate.
II veteran failed TO make any
payment when due, the secretary Of
the treasury at any time prior TO the
maturity Of the certificate would cam
eel the note and restore the certificate
TO the veteran upon receipt OF all in
stallmcnts in arrears, together with
interest az ~ per cent compounded
annually, upon each such installment
from the time when due.
In event OF the death OF the veteran
before the maturity OF the loan, the
loan and note would be cancelled and
the government would pay TO the
beneficiary named by or to the estate
of.the veteran the face value OF the
certificate less the principal OF and
interest on the government loan.
When Cancelled.
The certificate OF veteran would
lie cancelled only in case he failed to
redeem it before its maturity or il he
failed to make any payments when
due and such default continued to his
death.
The land settlement aid option OF
the house bill has been stricken out
and the Smith McNary reclamation
bill substituted. Under that mea-
sure, veterans would be given pref
erence in employment on reclamation
projects and in obtaining homesteads
on land reclaimed. They would be
required, however, to pay for such
homesteads without further govern /
ment aid on the same footing as
other homesteads. Settlement would
be open to all veterans OF the world |
war, the Spanish-American war and
the Philippine insurrection, irrespec-
tive OF whether they had received
any compensation from the govern
ment under the bonus bill or other
Veterans Choice.
The veterans choice among the
options proposed would be made by
application filed with the secretary
Of war if he were in service or his
asst service was with the military
;orces; or with the secretary OF navy
( he we're serving in, or if his last
service was with the naval forces.
Such application might be made at
my time after the passage of the bill
md would have to be made person.
lilly by the veterans except in the
,ase OF physical or mental incapacity,
n which event it would be made by
such representative of the veteran
md in such manner as the secretary
# war and the secretary of the navy
night jointly by regulation prescribe.