The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1922-03-02
Give BONUS DETAIL
Cash Payment VIII Not Exceed
$50, Says Committee.
Bonds Instead of Money May Be
BiIl'S Solution.
PLAN ALREADY FORMULATED
Secretary Mellon and Reserve
Board May Confer.
Service Certificates Would Have
3.3S Times Cash Value.
PLAN ALREADY FORMULATED

! Washington, March 2-Unanimous
agreement to eliminate the cash fea-
| ture of the soldiers bonus except in
| the case of men whose adjusted serv-
ported today by the special sub
committee of Republican members of
4 the house ways and means committee
to which the whole bonus question
was ratified on yesterday.
Majority members are hopeful that
final solution of the bonus problem
has been found in the proposed plan
TO substitute for the cash feature of
ice certificates upon which former
service men could Immediately obtain
funds from the banks.
Formulation of the plan already had
been undertaken today by the special
subcommittee to which it was re-
ferred yesterday, and it was under
stood it was planned to call in Secre-
tary Mellon and possibly members of
the federal reserve board for a discus
sion of the whole proposal.
Action May Take Month.
Representative Longworth of Ohio,
a member of the subcommittee to
which the majority members assigned
the task of working out the scheme,
after failing to agree on any method
for financing the cash payments, said
it probably would be a week or more
before this could be completed, and
1t appeared it would be a month be-
fore the committee would be ready to
report any bill agreed upon to the
house.
Without changing the vocational
training. farm and home aid and land
settlement features of the Fordney
bill, it is contemplated under the new
sue adjusted service certificates which,
by the addition of 40 per cent to the
proposed adjusted service pay, plus in
terest on the total for twenty years at
the rate of 4 II per cent compounded
annually, would have a total face value
of approximately 3.3S times the
amount that would be received under
the cash feature.
Banks Would Make Loans.
An amount equal to so per cent of
the total of the adjusted service pay |
could be borrowed from a bank i'm !
medfatelv on issuance of the certfd- /
Gates, with provision that If the sum |
thus obtained plus interest was not |
repaid in three years, the bank could |
make demand on the federal treasury |
for the amount due, the government |
thus to take over and carry the loan.
Veteran Pleas for Action.
The hope that "the administration !
will not continue to procrastinate very /
much longer and will fulfill the prom /,
ise made in the last national election /
and pass the veterans adjusted COM !
pensation bill without further delay" |
is expressed by Edwin S. Bettelheimer, !
Jr.. chairman of the national 1egisla- |
tive committee of the Veterans of /
Foreign Wars" in a letter to Presi- 4
dent Harding made public today.
Mr.. BetteIheimer said that he was
just in receipt of a report showing ;
that II, 900 of the 1000 former serv- ,
ice men in Cuyahoga county, Ohio, |
who applied for the adjusted compen-
sation voted by the state of Ohio, were
Two Million Unemployed.
''If this is indicative of the condi-
lion existing thruout the country" the
letter. said, "it would mean that ap
proximately two million of the ex-
service men are out of employment.
How many of these are in destitute
circumstances would be hard to tell
0ut the report shows that good
many were unable to pay their rents
md were. dependent upon odd jobs
Ind the good favor of others
"'This example from one of the
arger counties in your home state is
ypical of the condition of the former
service men thruout the country