New-York tribune., 1922-03-17
ate of Bonus
Will Be Put
L p to Harding 2
tConsinusj from PAGE one

home aid, and 71a per cent land set
tlement aid. The remaining 10 per
cent would be paid in cash after pas
sage of the bill under provision TO.
curing veterans whose adjusted COM
pensation would not exceed $50 10 ac-
copt cash
Total costs under the various on.
tlons OF the Dill We're estimated as fol-
lows: Cash payments. $4,000 900;
certificates, on account of deaths, S577.-
9I,ooo, and on account Of maturity.
sa.l54 S23,350; vocational training. s52.-
325 900; farm and nome aid. &l95 600
900. and land settlements. $l12. .oO0. 600
Greatest Cost in l943
Ihe greatest cost in any single wear
was estimated at S3,l54.S23.35O. in the
fiscal year l942. when the certificates
then outstanding, would mature. The
costs under all options cxcept the
certificates would cease, the report
said, in 1927 The iast payments under
vocational training would be in 1925
under farm and home aid in 1926 and
pnder land settlement in 1927. After
that time the only cost each year until
the year of the maturity Of INC Ger
1.hcates would DC payments on account
Oh deaths Of holders of certificates.
The cost in the fiscal year 1923. the
first year after the bill came into oper-
alton, would be $71A.297 900, the report
sand, and the costs Tor each succeeding
year up 10, but exclusive of, 1o43. would
I be: 1929. S12l ,4d0 .000 1925. Sl2l.3-0
900; 1926. S136.820 900: 1927. S42.q36
geo; 1928 $27.046.000 1929. S27.233'-
GOO; 1880. S21,ll5,000; 1851, s27 .674 .OO0
l932, $21 1892, 900; 1888 s28, ,265 900
1888, S2S.600.000; 1895 $29 .004 .0O0
1895, s29,448.0Oo; 1881. $40. 0.003 900
1888. s30.o93 900; 1889. S3l .333 600
1870, S32,l44.000 l94i. s33. .1O5 900 and
1942. 4,25l .0G0.
The report said no provision had
peen made for raising revenue to meet
the ilrst years cost. because a ma
lorlty OF the committee Was satisfied
that no new taxation nor special pro
VISIONS are needed until after the ex
piration Of that fiscal year 1t added
that any estimate OF government eX
penditures for 1924 and the an1onnt
Of revenue needed on account Of the
bonus would ncccssarily be very in
adequate at this time
advantages Of Plan OF Bill"
These "advantages OF plan Of bill"
with the adjusted service certiGcafe
bank oap plan in lieu Of the original
cash bonus provision, were given in
the report:
lfst~No new taxation. 10 issuance
o. new securities is at present required.
oecond-lt provides for the veteran
III % ICED method Of obtaining aid.
hn
yeaf after July l. 1923. are small com
pared to those which have heretofore
been met. and can be provided without
an difficulties or arrangement of orr.
fira ois situation.
"lourth-Thc plan tends to promote
savings habits among the veteran
"rlfth--]t protects the veteran him
self and his family from misfortune IN
the future.
"Sixth-lt VIII create class of home
builders who will greatly increase the
ma CT property III The country"
While perfect unanimity could no.
De expected as to all details of the
Dill. the report said, "thc majority oi'
the committee believe that the plan in
general meets the approval Of the SOL
olers and Of all Of those who are in
faVor OF granting 10 them additional
compensation IN any form whatever"
Bank Loans Discussed
The report, in discussing the obiec-
tons raised to the bank loan nro-
VISION of the adjusted service certi6-
cate plan. said the majority Of the
committee was OF the opinion that the
amount that would be borrowed from
banks on the certificates would be CON
paratively small"
Although they constitute ideal
securities for the savings bank" The
report said, amy bank may. if il sees
ht, inquire into the necrssity Of mai
ing the 'oan before it is rade. and II
is belleyed a majority of the soldiers
VIII not IN any event ask for loan
upon the certificates unless they have
come specla! need for the money. II
ls estimated by the committee and the
treasury tnat 40 per ont Of the vet
Grams VIII take the certificate plan.
assuming tnis 10 be correct, the utmost
mat could he loaned hy the banks. if
000 coo r'00'
ne committee feels safe in assum-
ing mat not to exceed one-half Of this
number 30 Per cent? will make applica-
tions Tor ioans during the whole period,
~ other words, that not more thar
~ o,OOO,000 will be borrowed from ~,
banks and that this sum is much mora
than W!ll be ouu at any one time The
total amount Of the assets of the ma
tonal banks is approximate,y SIG 600.
ooo0oO. The assets Of the other banks /
ave larger. making a total of about |