The Washington times., 1922-01-12
BONDS
PROPOSEDFOR
PAYING BONUS

THIWG DUWuJ
U. s. Plans to Underwrite Issue
Of Four Billions to Aid Yanks
and Square Debt.
By J. BART CAMPBELL.
Copyright 1899, BY International News
Four billion dollars worth Of
British government bonds, under
written by the United States. Gov
ernment viii provide for the SOL
diers' bonus, II the present plan Of
Administration leaders, decided
upon today, is carried out. ~
It's understood that Administra-
ton leaders are prepared to 60
before the country with such a
plan intended at once to take care
Of adjusted compensation for Amer
lean ex-service men and the British
Indebtedness to the United States.
viii End Difficulty. Il
1t is proposed that $4,000, 0o0, 900
worth Of British government secur-
tiles. guaranteed by the United States
Government, will find a ready market
in this country II offered for general
sale. and will lead to an early and
speedy solution of the difficulties con.
fronting the Administration relative
to the soldiers bonus and the foreign
debt.
As a practical business proposition,
Administration leaders believe that
the plan will meet with popular APP
proval.
and the British governments relative
readjustment Of the British debt are
said to have been started since the
beginning Of the present armament
conference. s.-
Value Would Be Certain.
It is pointed out that the value of
British bonds. underwritten by the
United States, could not be over
estimated, and that IL they were
placed on sale they would have
tendency to bring about 4 marked
Improvement in economic AMI finan.
ciaI conditions generally. both here
and abroad.
1t Is also explained that the pres.
ent plan for the linking Of the
soldiers bonus with the refunding
of the foreign debt was discussed at
considerable length at the confer
ence which took place Saturday night
between President Harding. Secre-
tary of War Weeks and Attorney
General Daugherty, on one hand. and
the Republicans leaders of Congress
who included Senator McCumber of
North D1kota. the new chairman OF
the Senate Finance COMMITTEES; Con-
gresham Madden OF Illinois, chair
man of the House Appropriations
Committee, and Congressman Ford
ney Of Michigan, chairman Of the
House Ways and Means Committee,
on the other. -! u II 81
Adams Takes Part.
Republican National Chairman
John p. Adams took q leading part ip
the conference. at which It was egre.d
that the issue presented by the sol.
diers' bonus and the foreign debt
must be met by the Republican party
In the coming congressional campaign
I'm a way that would prove satisfactory
TO the American people.
II II were to be pointed out TO the
American people, II was suggested.
that the American Government is
prepared to enter into financial ar.
rangement with its chief debtor
whereby $4,000, 900. 900 worth Of bonds.
guaranteed by the two wealthiest ma
lions of the entire world, are to be
offered for sale as a means of over.
coming one Of the main obstacles in
the way of world prosperity, there
could hardly Be any reasonable objec.
ton to such a plan.
While the President and his advisers
first favored q sales or some other
form tax as a means of financing the
soldiers bonus, II was finally agreed
that the most practicable method of
meeting the issue would be acceptance
Of the proposal that Great Britain's
indebtedness to this country be turned
into bonds which, underwritten by the
United States. would be sure to pro.
vide all the necessary funds to finance
whatever ex-service mems adjusted
compensation may have to be pro-
vided for.
The rate tentatively decided upon
for the bonus IL $1.25 q day for each
soldier. II Is estimated that fully 7s
per cent OF those eligible for the com.
pensation will accept the cash bonus,
which would consume all OF the
$4,000. 000. 900 raised through the
British bond issue. a. g.