Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-05-30
FavorS Loan Plan
Lower House
Measure
Minor Changes Probable
---Ear|y Vote in
Doubt---QueStion
Of Precedence
Over Tariff

Washington, May 2a-Approvai
by the Senate Finance Committee on
Wednesday of soldiers bonus bill.
following closely along the lines Of
the House measure with it's bank
loan provision was forecast today by
members of that committee, Republic
cans and Democrats, after the subject
had been discussed for nearly two
hours.
An informal canvass OF the COM
mittee today indicated that the MEM
bers were divided nine TO six for the
House measure with some modifica-
tiors-the so-callcd McCumber plan.
Five members. all Republicans, were
reported to favor the Smoot PROPOSE
ton of paid up life insurance for the
veterans in lieu of all other forms
of compensation while one commit
tee man. Senator Williams. Democrat.
Mississippi, was understood TO be op-
posed to any bonus legislation.
Whether land reclamation provi-
sion is to be included in the Nc
Cumber plan is an open question and
consequently it may be some time
before a bonus bill is reported to the
Senate. Chairman McCumber Is
anxious however. that the bill he re-
ported out in the immediate future
and he expects to press for action as
speedily as possible.
After reaching the Senate. the bill,
in the usual course would go TO the
Senate calendar to remain until call
cd up by Senator McCumbcr. There
is a difference of opinion among Re-
publican leaders as to whether the
bonus should displace the tariff bill
at any time soon so the probable
time at which the Senate will get in
to the bonus fight is indefinite.
Senator McCumber il of the opinion
that the Senate can dispose of the
measure with a few DAYS OF consider
alton, but this view is not shared
in any form as well as opponents OF
the amended House bill are prepared
for a long discussion of the ques-
ton.
Both the McCumber and Smoot
plans have been outlined in some
detail to President Harding with n
view of obtaining an expression OF
opinion from him but the committee
went ahead today with their con-
sideration without having received
any word from the executive. Pro-
ponents of the McCumber proposition
believe that he will approve that form
of bonus If passed by Congress but
publicly at least the President has
given no indication OF a change OF
mind since he told the House WAYS
and Means committee to finance the
bonus with a sales tax or postpone
enactment Of the legislation.
Aside from provision 10 pay cash
to veterans whose compensation
would not exceed $50. the McCumber
plan would provide for adjusted SER
vice certificates on which banks
would be authorized TO loan funds
during the first three years and the
treasury thereafter during the
twenty years OF the life OF the certi-
ficates. The certificates would have
face value equal TO about three
times the amount OF the veterans
adjusted service credit at the rate
Of 81 a day for domestic service and
$1.o5 day for foreign service and
the total would he payable at the end
of 20 years or sooner, upon the death
| of the holder. -st
There also would be provisions for
vocational training and home and
farm aid. These and the cash and
certificates feature almost identical
| with those in the House bill. but the
! land settlement. or reclamation fea-
| ture in the House measure has been
eliminated. There is movement in
| both the Senate and House to have
some kind Of reclamation provision
| put back into the bill and a special
sub committee of Republican mem
| bers of the Finance COMMITTEES
| opened hearings today on that ques-
ton