Bisbee daily review., 1922-03-02
BONUS BILL
(Continued from Page one)

option of the pill.
 Under the plan now contemplated, the face value of the adjusted service certificate would be equal to the sum of the adjusted service pay of the veteran (Sl day for domestic serv. ice and $1,25 a day for foreign sery- ice, less the S60 bonus paid at the time of discharge), increased by 40 per cent, plus interest thereon for 20 years at the rate of Az per cent a year, compounded annually. The to- tai face value thus would be approx imately 33S times the amount of cash that a veteran would have received under the cash feature.
 Immediately after the certificate was received, the service man could obtain from a bank an amount equal
 to 50 per cent of the total of the aG- justed service pay. If, at the expir- ation of three years, the sum thus obtained plus interest had not been paid by the service man, the bank could make demands on the federal treasury for the amount. The gov ernment thus would take over and carry the loan.
 Provisions respecting loans to be made by the government on the c5r- tificates after three years from their issue would be retained in the bill, it was said. Under these provisions. 1T the loan were made within from three to five years after issue, the amount uld not exceed 90 per cent of the sum of the adjusted service pay, plus interest from the date of issue at a rate of 41a per cent, compounded an nually. If the loan were made aftei five years, the amount could not ex- ceed so per cent of the sum of the adjusted service pay increased by 40 per cent plus interest from the dat: of issue at the rate of 4h per cent compounded annually.
 Representative Longworth ex. pressed the opinion that the suggeste plan, if it could be put into workable I form. would meet the approval cf President Harding and also of bot. 1 the house and senate. He also thought | it would be acceptable to the service | men.
 The agreement among the ways and l means committee Republicans to un- | dertake the working out of compro- mise plan was reached after there had been another test of strength on
 | the proposal made President Harding | that the cash bonus be financed by means of sales tax. It was learned l today that a motion to write such T
 1 tax provision into the bill was re- jected late yesterday by a vote of g to 1 6, with one member absent.
 l This left the question of reporting ! a bill without any means of financing
 the cash payments. This was wig
 orously opposed by some members
 and the discussion finally got around
 to the basis of a possible compro-
 mise along the lines now under con sideration by the subcommittee. The i basis was suggested after some of the members had communicated with of.
 ficials of the American Legion.
 1 Restriction of the cash feature prev i iously had been approved by several members of the house who served I with the colors during the World war, and it was said there had been growing sentiment among the house
 membership for this plan as a com- promise. Representative Fish, Re- publican, New York, a former service man, had drawn an amendment re stricting the cash to those taking vo- cational training, the sick and the un- employed. Another plan suggested was that of insurance for all of the men with sick and unemployment benefits and A monthly cash paymei
 after the beneficiaries reached the age of 65.
 Fish submitted his amendment to President Harding today at the White House and said afterward that Hard ing favored restriction of the cash feature and had expressed the hope that congress would not be swept off it's feet on the bonus question.