Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-31
3OPT|ONS PROVIDED
IN BONUS MEASURE
adjusted Service Certific ates,
Vocational Training and Help
in Buying Farm
MAXIMUM FIXED AT S625

b. Associated Press
Washington. Aug. 31.-As amended
By the Senate the Soldiers Bonus Bill
would become effective January l, 1923,
and would provide three optional plans
for veterans Of the World War other
than those whose adjusted service pay
would not exceed $50. These would
be paid In cash. The options are
I Adjusted service certificates. payable
in twenty years or soner at death and
containing loan provisions.
Vocational training aid at the rate
Of Sl.T5 a day UP to total of 40
per cent of the adjusted service credit.
Aid in purchasing a farm or home.
the total amount to range from 100
per cent Of the adjusted service credit
IL the money were advanced in l9Gi.
70 40 per cent of the adjusted service
credit. IL the nayment were made in
1923 or thereafter.
Adjusted service pay or adjusted
service credit would be figured on the
bnsis Of 81 day for domestic service
and 81 - day for foreign service. less
the $50 paid AT discharge. But in no
event coud the amount Of the credit
Of the veteran who performed no over
seas service exceed $500 and tho
amount of the credit Of the veteran
who performed any overseas service
exceed s625.
Adjusted Service Certificates
Adjusted service ccrt.@ra'eS would
would have face value equal to the
sum of the adjusted sn"v!c" credit Of m"
veteran increased by - per cont. plus
interest thereon for twenty wears at
the rate Of 4i2 per cent year, COM
pounded annually.
Until January !. 1926. any national
bank. or any bank or trust company
incorporated under the laws " any
State, territory. possession or the Dis
trict of Columbia. would bc authorized
TO loan to any veteran upon h:> prom
issory note. secured by his adjusted
service certificate, any amount not IN
excess of so per cent OF the tota. ut
the adjusted service credit plus interest
thereon from the date of 'ac cegt!G'ate
to the date OF the loan. n the rate
of Az per cent year.
Should the veteran ta, 10 pay the
principal and interest Of the lran within
six months after is maturity. III" Gov
ernment would pay 10 the bank the
amount of such principal and interest
and take over the c":tl:Care. TINS
would be restored 10 tho veteran az any
time prior to It's maturity up"n receipt
from him of the amount paid ny ~"
Government TO the bank plus interest
on that amount at the rate Of ~ per
cent year. compounded annually.
Payment in Event of Death
II veteran died before the ma
turity Of the loan the oIovernmen'
would pay 70 the bank the principal
and interest and to the beneficiary
named bv the veteran or tie estate Of
the veteran. the face value Of The certih-
cate less the amount paid ~ the bank
After January ! 1926. veterans hold
ing certificates could make direct an-
plication through poStmaStcrS for Gov
eminent loans.
II such loan wero made n anv time
not more than three wears after The
date Of certificate, Il could NOT exceed
20 per cent Of the sum IF the adj
justed service credit II tne veteran
plus interest at H.. Per cent. \ year
from the date of the certificate 70 tho
date of the loan.
II the loan were made ~ any tine
more than three wears after and not
more than six years after the dare Of
the certificate. the sum could not ev.
ceed Sj per cent Of rhc adjusted >erv.
ice credit. plus interest At ~ per
cent from the date Of the ror..tic4te to
the date Of the loan.
II the loan were made At any time
more than six years after the Ga'e ~;
the certificate the sum could not ey-
eeed 20 per cent Of The adjusted service
credit increased by - per cent Plus in
terest at AZ per cent from the d?te Of
the certificate 70 the date Of the ,oan.
Repayment of Loans
The veteran would repay the loaa
upon an amortization plan by means II
fixed number Of annual !n>tallmon,.
suficient 70 cover interest on The IN.
paid principal az the rate # 4io r"r
cent and such amount Of The DrInclpa,
as would extinGuish the debt within m
agreed period not exceeding the lie u
the certificate.
II veteran failed n make any nav.
ment when due. the Secretary of me
Treasury. at any time lc.or 70 The
maturity Of the certificate. would can
eel the note and restore the Cerr!ECa,n q
to the veteran upon receipt of al IN.
stallments in arrears. together with IN .
terest a. iha per cent compounded an.
nually, upon each such iasraIlmaut from
the time when due
LAM Ala option
The land settlement all option # the
House bill has been stricken out and
the Smith McNsry Reclamation biz
substituted. Under that MeaSIre VET
erans would have preference in employ
ment on reclamation projects and In
obtaining homrsteads on land re.
claimed. They would ho reQgred. how.
ever, TO pay for such homc,trads win.
out further Government aid. IN IN.
same footing aS other hu:nr>rDaIcr,
Settlement would be opcn - a vrr.
Grams of the World War. the Spanizb .
American War and the pL.l.rI.ne IN.
eurrection. irrespective 0f Wue,her ,l.y
had received any compensation from he
government under the Bonus BIZ ol
other legislation.
CHICAGO WOMAN BLAMED
END lIiCDhnn.O oIIINInr