Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-03-08

Proponents Of III bank loan plan
argued that through this provision
the men could obtain Immediately .
far larger sum than they would have
payment plan originally proposed and
this without the imposition Of any ad-
ditional taxes on the country. They
commended also that when the treas
r would have to begin paying out
money 1t could reasonably be assum-
ed that there would be funds to meet
the payments through reduced gov
eminent expenses and receipts from
the refunded foreign loan.
Time Not Fixed.
The time of the calling up Of the
bill in the house will not be definitely
fixed until Chairman Fordney returns
to Washington from a trip to the
middlewest on which he started yes
terday. 1t could be taken up Monday
under a suspension Of the rules which.
would preclude amendment and II not
taken up then a special rule could be
brought out for its consideration I'M
der a parliamentary situation which
would permit of only such changes as
the committee might desire to make.
MI. Fordney said the entire WAYS
and means committee would meet
Saturday when the Democrats would
have an opportunity to pas judg-
measure will be Irinted so that they
and house members generally a
study its pre- visions. f.
The ultimate cost of the bonus to
the government, it was said, would de-
lend upon the number of men select
ing each of the options. 1t was es-
timated that the immediate cash pay
nient TO those entitled to not more
than $50 each would be around s16.-
al! the way from $ $1,000, 900, 900 to
$4,75O;0o0, 900. the maximum figure
being p~redicated upon all of the vet
Grams selecting certificates and hold
ing them until maturity, or until
their death.
The adjusted service certificates
would be dated October l, 1922, would
mature In 20 years, OF at the death
OF the veteran and. in either case,
sum of % the adjusted service credit
Ct h veteran increased by IS per cent
plus (2)' interest thereon for 20 years
at the rate of 4 LIZ per cent COM
pounded annually. The total amount
would be approximately equal to
3.015 times the adjusted service credit
of the veterans" p
IT, ~ IAO ~ o1lu ~ oAU w.
ton. veterans would be paid in a lump
sum or installments, an amount equal
to the adjusted service credit increased
by forty per cen upon satisfactory
assurance that the money would be
used in purchasing or making pay
ments or a home or farm or improv-
ing a home or farm.
This section of the bill is unchanged
as is that providing for land settle
ment. Under the land settlement title
thera would be created a national
veterans settlement board" which
would establish veteran settlement
projects for the reclamation and settle
n1ent of lands by means Of irrigation,
drainage Or other method Of develop
ment r improvement. Establishment
of the projects would be carried ou in
cooperation with the state and veter-
ans would De given preference in en-
ployment on such work.
In each project the board would
establish farm units large enough for
the support of a family and farm
workers units sufficient for part time
cultivation by a farm. workers fam
lily. Each veteran employed on a pro-
eject would be allowed to select and
would be allotted a farm unit upon
which he could construct a dwelling
and other improvement. From the
price of the land so allotted would be
deducted the amount Of the veterans
adjusted service credit. The remand
err would be paid upon an amoritiza-
ton plan with a fixed number of, in
stallments to cover the amount due,
plus interest at five per cent over a
period of 25 years or less.
The settlement board would con-
sist Of the Secretary of the interior
and four other members appointed by
the president, subject to confirma-
ton by the senate.
Those. Eligible.
Those entitled to q bonus would,
under the terms Of the bill, In
clude any Individual. a member
Of the military or ava forces Of
the United States at any time aft
er April 5, 1917, and before No
vembcr II, 1918; but does not in
cludc (1) any individual at any
time during such period or there
after separated from such forces
under other than honorable cOndi-
tions, (2) any conscientious OBJ
jectOr who performed no military
duty whatever or refused to wear
the uniform. OF (3) any alien at
thereafter discharged from the
military or naval forces on ac-
count OF his alienage."
The term ovcrscasMservice, IN
bill sets forth, A'means service on
shore in Europe OF Asi9, exclusive
OF China, Japan and the Philip
pine Islands; and service afloat,
not on receiving ships; including
in either Isl the period from the
date of cm~barkation o such SER
vice to the date OF Decentralization
on return from such service, both
dates inclusive"
Home service is defined to
mean all service o overseas ser-
vice.
The bill also would provide that il
computing adjusted service credit nj
allowance would be made ito any
commissioned officer above the grade
of captain in the army or marin
corps. lieutenant in the navy, frs
lieutenant or first lieutenant OF engi
neers in the coast guard, or passed
assistant surgeon in the public health
! service, and having the pay and al
lowance If not the rank Of any Off
Ger superior in rank to any Of such
srade-in each case for the period o.
service as such.
ANY individual holding permanent
or provisional commission or perma'
nent or acting warrant In any branch
Of the military or naval forces. Of
while holding such commission fol
warrant or in such higher grade aftel
the accrual of the right to pay there
under. This subdivision shall not ap'
ply to any non-commissioned officer.
Madison Residents
Organize To Capture
Man Who Whip. Womesr
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