Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-05-07
DELAY IN BONUS
L00MS;HARD|NC
To STUDY PLAN
Senators Deliver Mod
flied House Bill to
President for Word.
Will Be Taken Under
Amusement in Con-
nection With Smoot s.

Washington, May 6.-Presiden
Harding took under advisement Satur
day the modified house soldiers bonus
plan, presented to him By a committee
of senate republican leaders. He tolt
the senator's that he would study the
proposal and the one to be presented
early next week by Senator Smoot, OF
finance committee, and would renew
the discussion with them later.
Those calling at the White House
were Senator Lodge, Massachusetts,
the republican leader; Chairman Nc
Cumber and Senator'S Curtis of Kan
sas and Watson of Indiana, members
of the finance committee. The SEN
ators said the president had given no
intimation as to his opinion of the
amended house bill, but asked many
questions concerning its provisions.
Warned New Taxes are Taboo
The president was told, senator's
said, that it was the desire of con-
gressional leaders that no additional
taxes be enacted in connection with
the bonus and that 1t would be impos-
sible to put a sales tax through con-
ing the bonus was presented to the
executive, it is the thought of bonus
advocates that the legislation can be
financed out of the refunded British
bonds.
The president was asked by his call
ers whether there was likelihood of the
treasury receiving the refunded British
bonds sooner than heretofore antici-
pated. He was quoted as replying
merely that the refunding negotiations
are in progress.
Easy for Few Years
Neither the commonly known Nc
Cumber plan nor the Smoot plan calls
for any considerable outlay of money
within the next few years and some
senator's said that whatever cost would
be entailed could be taken care of out
of the 100000, 900 annual interest on
the debt owed by Great Britain. which
that country is expected to begin pay
ing this year.
The McCumber plan, like the house
bill. would call for no loans to vet
erans by the government for a period
of three years. but banks would be
to advance to the soldiers
sums equivalent to one-half of the ad-
lusted service credit of the veterans.
At the expiration of the three years.
the treasury would make loans direct
to the men.
Smoot Plan Insurance
The SmoOt plan contemplates the is
sue of 2O-year life insurance endow-
ment policies to the veterans in lien
of all other options heretofore pro
posed, including the vocational train
ing, home and farm aid and land set
tlement. and it would make no specific
provision for loans on the policies.
The policies would have a face value
equivalent to slightly more than three
times the amount of the adjusted serv-
ice credit of the veterans and the face
value would be paid at the end of 20
years or sooner upon the death of the
veteran.
After. the senators returned to tbe
capital from the White House. there
was discussion among leaders gen
orally as to whether the bonus should
lisplace the tariff bill. There was some
ak about calling party conference
% decide this question. but no formal
lecision was reached. This NAV await
he presidents decision as to the kind
If bonus bill he will approve.