The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1922-06-14
BONUS BILL NOW
ISSUE IN SENATE
Cost Is Estimated At About
S3,S45;659, 49, Quick Show.
down is Urged.


diers' bonus bill was taken TO the
senate today by Chairman McCum-
Der, of the finance committee, with
an accomp anying report placing the
probable cost to the federal govern
ment at sS,S45,659,4s1, spread ov-
err a period of AZ years from next
January 1. This is approximately
$3.50. 200, 900 less than the estimate
under the House bill, which was
$4,O9S,719,S50, payable over 20
years.
The Senate bill estimate was pre-
pared by treasury experts and is
based on the idea that rs per cent
of the 4,45S,199 veterans who
would be eligible for compensation
would elect the adjusted service
certificate options, 22h per cent
farm, home and land settlement
and ga per cent vocational train
ing aid. Should all veterans ac-
cept the collection plan the total
cost would be $4,4S6,545,975.
With reference to financing the
legislation, Chairman McCumber's
report said it was hoped that the
reduction in governmental expendi-
lures plus the payment OF interest
on the refunded foreign obligations
would be sufficient to obviate the
imposition of additional taxation.
Left 10 Future
"If it does become necessary to
impose additional taxes" the re-
port continued, 'it is believed we
can better determine the amount
OF the necessary levy and the meth
dds of distributing such burdens for
the future at later date when the
future condition Of the treasury will
be more accurately established"
AS 10 the refunded foreign obi
cations. the hope was expressed that
this soon would be obtained and
that it will be possible for the
foreign governments to provide for
the immediate payment of interest
thereon, so that such interest can
be used toward defraying the ex-
penses authorized under this act"
Senator McCumber explained that
an attempt had been made to re-
duee to minimum actual cash pay
ments under the bill during the
next three years while the treasury
is engaged in refunding the nearly
seven billions Of dollars of matur-
ing government obligations The
estimated cost of the bonus for
those three years was $242,00O, 900.
Action Delayed
After its presentation to the SEN
ate the bonus bill went to the
calendar. where it will remain until
there is an agreement to call il up.
Senator McCumber and some other
proponents desire early action but
several Republican leaders are op-
posed 10 side tracking the tariff bill
as they expect the fight over the
bonus to consume at least month
and perhaps six weeks.
This measure differs somewhat
from the House bill and from the
bonus bill that was reported to the
Senate last year and later sent back
to the finance committee at the re-
quest Of President Harding. The
most important change from the
original measure is the elimination
Of the cash bonus and reclamation
features. As now drafted the legis-
lation would give each veteran the
right to select any one of the fol-
lowing plans:
Five Plans
Adjusted service pay, but only il
his adjusted service credit did not
tAtCtu gov.
Adjusted service certificate witt
bank and government loan provi
sions.
Vocational training aid.
Farm and home aid.
Land settlement aid
The estimated cost for each o
these plans is Sl6,000,OOO for tn
cash payments; sS,364,9O9 for tn,
adjusted service certificates, S4l2,
425,000 for farm, home and Ian,
settlement aid, and s52,325,OOO 70
vocational training. The expense
under vocational training and tn
cash bonus would end in 1925, un
der this estimate and those TO
farm. home and land settlement al
In 1920. Expenses under the Ger