Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-01-25
five Way Adjusted Compensa.
ton Plan Oilered in Senate
bv Simmons-Paymen Pro.
visions Call for Short Time
Certificates Until Interest on
Debts Can ne Collected

Washington. Jan. ai-The question
"a bonus for former service men
s.a.n vas formally presented 10 the
Senate to-day through the introduce
Ton p, senator Simmons. Democrat.
North Carolina, of the Ave ways ad-
g,,ea compensation plan IS an
/ amendment 10 the pending measure
v8udrg for rounding OF the war
tho lalns 10 the allied powers.
WH the exception Of provisions
i,r ra mont of the bonus the Sim
w5~s rnt. ndmcnt IL Identical with the
seri's last summer only 90 he re-
committed 80 the anance committee
ara, p.,sIdcut Harding had address,
o. t.e senate on the subject. The
t.t.. for payment OF the bonus
call o.. the ISSUANCE Of short term
,-,lstl trriihcntes until interest on
'.e dr.t an bc collected to retire
iHsr md later tho use of the princi-
pa. os Ine deht. n and when such be-
,rrroe 1E1il1hlc through the issuance
md sI.e or foreign bonds
IN u0rrrg the amendment. Mr.,
Simmons assured he senate that he
ans ~ Earnest and declared that
Do We buncing the subject up be-
uIs. fufmrr service mrr deserved
rr bonus and because the finance
forw 'rs" ~ which he is the rank
IN. Democratic member. had given
ssr-ors ,unstdcrntton" 10 attaching
- o. iUe undlng Bin before the lat
r. uaV reported tn tho senate.
n vas sad that as result ~ in
ferm7' conferences among Democrats.
ST. simmons had hccn assured that
b.. rollearurs would support his Of
forts 90 rnto Tho amendment at
n .N.1 ~ 'hc tunding measure.
cunfor Walsh. Democrat. Massa-
= Iarifs. nIeu Submitted an amend
mont 20 tho bdl supulating that any
ugtrcmcn' rrsI.ung from negotia-
toms between tho proposed commits
Fou for funding the debt and the
f5trIgn representatives. should not be
binding on The American government
Or..l ''o consent ~ tho senate had
D.u obtained, such provisions pre-
were pressed before tho n
rIr., committee hut were not ac-
rerfcl ~ was said. because OF OBJ
isruors ~ the treasury.
" simmons IN the course ~ his
speech declared that when tho senate
committee agreed 10 strike out the
PROVISIONS for n f'at i've per cent. in =
~res' ate II had left the way open
'or rho International spectators 10
f1'Hr ne fruit"
Tho rcpuhlican majority on the
eorrW1ter. nv his opinion. he added,
hfI 200 mind a reduction Of the inter-
co .lfcs 20 10 demanded of the for
Cgr ro, ernmcnts in tho future.
SDn1for watson. republican, In
damn interrupted To say that he az
ma IntI't member had felt that The
ra' lato provision was unnecessary
lr8sw .Dh ~ your party" addressing
Ml SIMMONS. when in power wrote
n th0 'hrftv loan acts the provisions
vh.1 have governed interest rates
no declared that tho provisions re-
qIrrE n rate from the foreign gov
'nmoH's approximately equal to that
psd n' 'ho United states on its own
Bond which tho only rational way"
70 dispose 81 tho question.
~ Tor the contemplated rcduc.
nnr Mr. Watson continued. have
a.'ats had such views. both a. TO
me- Ir'Cirst IN our own bonds and on
'hos" - ~" foreign governments but
] ln ro' know that they are shared
er ans rNc WHY should our govern
men' u' Eve per cent. II In Il years
s7u "a decide 10 fund its bonds
,71 could borrow all of the money
mods ~ three percent? Where
Nn-d tfIs government he IL the Ave
30 D.r' tatc were In the law and
v" ed oar own rates when this
tnv'''rrut Is morally bound 10 ask
fo mon" 80 tho foreign governments
''r tt's On its own borrowings"