The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1922-06-08
j. s. SENATE
GETS BONUS
BILL TODAY
Lengthy Reports Favors Pass
age of Much Discussed
Measure
BY ]. BART CAMPBELL

WASHINGTON, June S.-lgnorlng
alike the suggestions from oppo-
nents that the treasury cannot stand
bonus drain. and hints from ad-
ministration spokesman that Presi-
dent Harding will veto the measure.
Senator Porter j. McCumber, Repub-
lican of North Dakota, reported the
long delayed and much discussed
bonus bill to the Senate today with
lengthy report favoring its pas
sage.
The bill puts squarely up to the
administration the payment of a
soldiers bonus from interest to be
collected from the British and other
operations of the treasury to show
the governments financial condition
is steadily improving.
KEYNOTE OPTIMISM
The keynote of the Senate finance
committees report was one of op-
timistic belief in the ultimate avail
ability of foreign debts payment,
and in the ultimate ability of the
government to meet the bonus drain
without recourse to further taxa
ton.
The bill is expected to slumber on
the Senate calendar for a few days
and then an effort viii be made to
displace the tariff and rush it to
passage.
McCumber explained that the bill,
a modification of that passed by the
House, was intended to correct the
inequalities suffered by those who
performed actual soldiers duties
and received meager soldiers wage
and excluded from its benefits all
those who were given commissions
while performing merely clerical
work in the departments" It's
benefits were also limited to those
below the grade of captain in the
army of marine corps and lieuten
ant in the navy. he stated
AS TO FOREIGN DEBT
In discussing the application of
the foreign debt to the bonus. Nc
Cumber expressed the hope that the
World war debt commission would
make such progress toward refund
ing the demand obligations of for
eign countries into Icing term obli-
cations as to secure the latter "in
the very near future" and render it
possible for the foreign govern
ments Ito provide for the immediate
payment of interest thereon" so that
such interest can be used toward
defraying the expenses of the
bonus.
The budget recently presented to
the house provides for the INSTALL
ment OF interest due to the United
States on the indebtedness of Great
Britain payable Nov. 1922. McCum-
Der pointed out. I'm view of this
fact 1t is believed that the United
States can count ION receiving in
terest payments from England from
now on. such payments aggresating
about $200,000.0o0 per annum.
COST OF BONUS
The March. 1922. revised estima-
ties of receipts for the fiscal year
ending June so. 1929, contained an
estimate of s2z5, 100000 for interest
on foreign obligations.
rms would be nearly three times
the amount necessary to meet the
obligations created by this bill for
the first two years"
The highest cost the bill would
impose would be s4,4S6.545,975. Nc
Cumber estimated. but only in the
event that all veterans avail them
selves of the 20 year endowment in
surance certificate plan with it's
provision.
But even If this were possible"
he added, the payments would be
scattered over 40 or more years" his
judgment being that many ex-service
men would not actually apply for
compensation until they required 1t,
or for at least a number of years af-
ter the bill became law.