The Mankato free press., 1922-06-09
Early Aston Desired

"a v.
Early Action Desired
after its presentation 10 the sen
ste the bonus bill went 20 the cal
CEGar where it will remain until
there is an agreement TO call 1t up
Senator McCumecr and some otner
proponents desire early acton out
several republican leaders are op,
iosed to side tracking the tar1n
pkl as they expect the hsht over
the bonus 10 consume 2I least
month and perhaps six weeks.
This measure diners somewhat
from The house bill and very widely
from the bonus bill that was re-
ported 20 the senate last year ana
later sent back 20 the finance com
mittee at the request Of president
Harding. The most important
charge frum the origial measure is
the elimination OF the cash bonus
and reclamation features. As now
drafted the legislation would give
each veteran the right TO select
any one OF the following plans:
Adjusted service pay, but only II
his adjusted service credit did not
exceed $50.
Admsted service certificate with
hank and government loan pro7l-
sions.
Vocational training aid.
Farm and home aid.
Land settlement aid.
The Estimated Cost
The estimated cost for each OF
these plans is sl6,000,0Oo for the
cash payments: 64,909. .4Sl foI
the adjusted service certificates;
s4l2.425.QO0 for farm, home and
NJ and go 2oh lhlU
for vocational training The ex-
penses under vocational training
and the cash bonus would end in
1925 under this estimate, and those
for farm, home and land settle
ment aid in 1929 Expenses under
the certificate plan would continue
to 1866, with a total or $655 ,SSl,-
670 to l943 when the certificates
would begin to fall due.
Explaining the bill Chairman
McCumber said in his report the
amount of the adjusted service
credit would be at the rate OF 81
day for domestic service and N.2S
tor foreign service, less the 500
bonus paid when the veterans were
discharged from the service.
In no event, however, could the
total exceed $50 in the case OF
those who had only domestic serv.
ice and S625 for those who han
both domestic and foreign service.
The Adjusted Service Certificates
The adjusted service ceruncates,
nsyable at the end of twenty years
from the date of issue or sooner
mon death would have face vel
ne of $3.50 times the total amount
of the adjusted service credit. IN
til January /, 1926, banks would De
authorized to loan to the veterans
an amount equal to so per cent OF
the adjusted service credit pIus IN.
terest AT the rate of 1-2 per cent
compounded annually from the date
of certificate. After January J.
1926. the government would make
loans on the certificates in varying
amounts according TO the time ne
gotiated.
report that the committee had rec
commended elimination OF the re-
caamation provision OF the house.
bill of three reasons:
"Any reclamation scheme Will De
exceedingly expensive and Will IN
the end necessitate the expenditure
of millions of dollars; IT Will De
many years before a veteran wIil
he able to determine whether he
could secure any rights under such
plan and where the projects will
be located; and. in making an ap-
plication for such aid the veteran
would not know anything relative
To the location. cost and advantage
OF the project"
AS a land settlement provision
in place of the reclamation Veter-
ans would be given preference IN
making entry on any public or IN
dian lands open to entry. TO pay
for these lands they would De en-
titled to a sum equal to the adjust
ed service credit increased by %
per cent