Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-03-08
Is introduced in the House
By Chairman FOrdney
But Will Not Be Called
Up Until Next Monday.
VETERANS WILL HAVE
ONE OF FOUR OPTIONS
Final Cost to the Govern
ment Is Estimated All the
Way From 900, 0,000,-
600 to S4,750, 100000
nv The Associated Pressl

w aSnlngCOn, MdTcn -
The compromise soldiers
bonus bill, carrying a bank
loan provision in place of
the cash installment pay
ment plan, originally pro-
posed and once approved
by the house, finally was
agreed to today by repub-
lican members of the ways
and means committee. 1t
was introduced later in the
house by Chairman Ford
ney, who announced that it
would not be called up un-
til next Monday, if then.
Passage of the bill was predicted
by Mr.. Fordney. His opinion ap-
peared to be shared ty members
of the house generally. some of
whom said that "on the final vote
party lines would disappear"
There was some speculation in
house lobbies and corridors as to
President Harding's views Of the
compromise plan and also as to
whether he would find occasion to
express those views before the
house voted.
Not Studied by Harding.
At the White House it was said
that Mr.. Harding had not studied
and consequently had not formed
an opinion as to the bank loan pro-
vision. lie was represented, how
ever, as maintaining the same po-
sition that he did when he wrote
Mr.. Fordney on February 16 that
the bonus either should be paid by
q sales tax or the legislation post
poned.
Some of the majority members
of the committee believe that since
the new plan defers for three years
any large drain on the federal
treasury the president will not OBJ
iect to it. They say the compro-
mise will enable needy veterans to
obtain cash without the necessity
of imposing additional taxes on the
general public.
Fordney on Trip West.
Just when the bill will be called
up in the house will not be decided
until after Mr. Fordney returns
from a trip to the west, on which
he started late today. Should the
bill be taken up next Wednesday
the house would proceed to its con-
sideratio under a suspension of
the rules which would hav TO be
a special rule 1t was expected
that this would be so drawn as to
give precedence to committee
amendments, plan designed to pre-
vent the opening of the bill to gen
eral amendment.
Mr.. Fordney said the entire ways |
and means committee would meet |
on Saturday, when the democrats |
would have an opportunity to pass
Judgment on the bill. Meantime
the measure will be printed so that |
they and the house members gen.
orally can study It's provisions.
One of Four OPTIONS.
Aside from the substitution OF |
the bank loan provision for the
cash payment plan, the bill as in
troduced is very similar to that |
previously passed by the house |
The only immediate cash payments |
proposed are to veterans whose ad-
iusted service pay would not eX
ceed $50. Other veterans could i
select one of these four options:
Adjusted service certificate,
combining q loan and insur-
ance plan.
Vocational training. !
Farm and home aid.
Land settlement.
The ultimate cost of the bonus
to the government, it was said,
would depend upon the number of I
men selecting each of the options.
1t was estimated that the immedi-
ate cash payment to those entitled !
to not more than $50 each would
be around 100000, The final
cost might range all the way from
$1,000. 100000 to $4,760,000,000,
the maximum figure being predi-
Gated upon all of the veterans
selecting certificates and holding
them until maturity or until their
death.
Date of Certificate.
The adjusted service certificate
would be dated october /, 1922;
would mature in twenty years, or
at the death of the veteran, and, in
either case, would have a face
value equal to the sum of (1) the
adjusted service credit of the vet
aran increased by 25 per cent plus
(2) interest thereon for twenty
years at the rate of Az per cent ,
compounded annually. The total