Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-08
CHAIRMAN FORDNEY
INTRODUCES BONUS
MEASURE IN HOUSE
Compromise Agreed On by
Ways and Means Major
ity Members.
WILL NOT BE CALLED
UP BEFORE MONDAY
Patron Predicts Early Passage
by Lower Branch-Hard-
ing's Views Uncertain.
EXECUTIVE REMAINS sIIn>r
White House Opinion Said To lie in
Favor of snies Ia, or
Postponemcnt.
WILL NOT BE CALLED
UP BEFORE MONDAY
EXECUTIVE REMAINs SILENT
White House Opinion Said 10 ue 4,
Favor of SnicS Tax or
POstpOnemcnt
icy Assoclated Press.l

AS.>' "aTCH THE
compromise soldiers bonus bill. car
ryinE Il bank loan provision In place
OF the cash iistallment payment plan
rlSlhaiy proposed and once an
proved by the House, finally was
agreed 10 today by Republican mem
""'s OF the Ways and Means Com
nlittcc. II was introduced later in
'he House by Chairman Fordncy. who
announced that IL would not be called
up until next Monday. II then.
fassage OF the bili WAS predicted
by Mr. Fordncy. His opinion ap-
peared to be shared by members n,
the House generally. some OF whom
said that on the final vote party lines
would disappear. There was some
speculation In House Hobbies ana c,r-
r,dors as to President Harding's
views OF the compromise nIan aud
SiS" as 10 whether he would find oc-
cas'on to express those views before
] the House voted.
| Harding II silent
chairman Fordney still declined TO
| say whether he had discussed the
compromise with the executive. Al
the White House il was said that
| MT Harding had not studied and
consequently had not formed an opIn.
ION as 10 the bank loan provision. He
was represented. however. as main
iaining the same position tina, he did
| when he wrote Mr.. Fordney on reb-
ruary i6 that the bonus either
| legislation postponed.
Some OF the majority menha, .,
'"e committee believe that since the
ne" pan defcrs for three years any
large drain on the Federal Treasury
the President Will not object To IL.
They say the compromise Will enable
needy veterans to obtain cash with
out the necessity OF imposing addi-
tonai taxes on the general public.
Fordney Gocs West.
Just when the bill will he called
| up in the House Will not be decided
until after Mr.. Fordney returns from
trip TO the West. on which be
started late today. Should the bill be
taken up next Monday. the House
would proceed to it's consideration
under suspension OF the rules
which would prevent amendment. II
taken up later, MIR. Fordney said
there ''ould have to be special
rule. II was expected that this would
be so drawn as to give precedence to
committee amendments. plan de-
signed TO prevent the opening up OF
the bill To general amendment.
Mr. Fordney said the entire Ways
and Means Committee would meet on
Saturday. when the Democrats would
have an opportunity TO pass judg-
| ment on the bill Meantime the meas
tire will be printed so that they and
| House members generally can ptudy
its provisions.
Aside from the substitution Of the
| bank loan provision for the cash pay
| ment plan. tho bill as introduced is
very similar To that previously passed.
| by the House. The only immediate
cash payments proposed are TO vet
Grams whose adjusted service pay
| would not exceed $50.
Have One of -Four OPTIONS
Other veterans could select one Of
these four options:
Adjusted service certificate. combin-
Ing loan and insurance plan.
Vocational training
| Farm and home aid.
Land settlement
| The ultimate cost OF the bonus to
the government IL was said. would
| depend upon the number OF men Sc
lectinG each OF the options. 1t was
| estimated that the immediate cash
payment to those entitled to not
more than $50 each would he around
| Si6,00o,000. The final cost might
range all the way from 81 1000. 900 900
to $i.150.000 900. the maximum figure
being predicated upon all OF the vet
Grams selecting certificates and hold
ing them until maturity or until their
death.
The adjusted service certiRcats
would be dated October 1, 1922; would
mature In twenty years. or at the
death OF the veteran. and. In either
case. would have face value equal
to the sum OF % the adjusted serv-
ice credit Of the veteran increased by
%. per cent plus (2) interest thereon
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