Norwich bulletin., 1922-03-25
[. s. CHAMBER OF COMMERCE
 VOTE ON SOLDIER RONUs

The Norwich Chamber of Commerce has received a. copy of the result of the referendum vote which the United States Chamber Of Co11merce took on the soi- dier bonus ieslsiation now before con- gress
 The referendum and the resulting vote follows:
 reclamation to be initiated through ade- qusts federal appropriations and to be carried cut for the purpose of affording ex-se.yice men opportunity 10 cultivate the soil2
 Votes in favor 1.2se t-z. Votes op- posed 4s1 1-2. Carried.
 Do you favor national legislation and appropriations to enable ex-servlce men to build homes?
 Votes in favor 1928 Votes opposed SIT Not carried.
 Do you favor national legislation and appropriations to enable ex-service men to obtain vocational education?
 Votes in faEor 1873 1-2. Votes op- posed BPS 12. Carried
 Do you favor national legislation for general bonus whether paid in cash i'm lnedtateiy or with payment deferred through use of certificates?
 Votes ill favor 4e7 1-2. Votes opposed 12S 1-.. Opposed
  tions in 3T5 cibies in 46 states, in the District of Coluurbis,, Alaska and Hawaii. and by American Chambers of Commerce in Havana; CAFha, and Tsnpico, Mexico The condition under which the United States chamber is committed by & refer enoum vote fs that at the close of the voting period at least one-third Of the voting strength of f9le chamber has been boiled and more than two-thirds of the votes cast representing more than 20 states are in favor of a proposition sub- suitted
 Regarding the bonus $ statement is- sued by the United States chamber says To avoid the admitted financial diff culties confronting fine government if q cash bonus be paid. proposals have now been brought forward whicH<only serve Go increase the evils and difficulties. The method now proposed of furnishing goy- l ernnent certificates to be used as coiIat- eral in obtaining loans from banks only transfers the immediate burden Of pro- vidins. cash from the federal treasury 10 the banks of the country. This means imitation with 5ts consequent detrnnent to fine country. It means a return toward conditions which only recently ended in violent denation, the effects of which are I still apparent
 Cash payments amounting 10 apprcxi- mateiy s1s,0oo,coo will be made to those veterans who have coming to them un- der the terms of the bill. $50 or less These men wifi be compelled 10 take cash, while those vino are entitled tc more than $50 may, among several 1 chofoes take certificates, which provide | for 2, 25 per cent. increase of the adjust cd service credit The veteran who il compelled to take cash Is not, under the | 1S,na o~ oA jas1ed service credit.
 WfHi respect to the certificates, thC present bill assumes that they will b' presented to banks at once by those de, I siring money and used as collateral fol loans not exceeding 50 per cent. of th' adjusted service credits: in other words | a man entitled to the maximum Of $5ot as adjusted service credit for men whc ! did not So overseas. would receive a cer tihcate for S.015 times $500, or around S16Oe and on thiS certificate the bif conteusoiates that he coud obtain a loar at a bank for e25o. Tne proposition i: not that ex-service men should get loans 1 which would be repaid to ta1e banks, but l that tlees loans would run until they 1 wers taken over by the government 1T ] 1928, by which time they could amount to at least $500. .e6o, ,6e0. This figure doei not taa1c into account any sinking fund to be created foY certificates outstanding after the fiscal year 1926.
 Il is. wellfto recall here that borrow ing on government obligations was g
 cause of imitation in the war period. and
 afterwards and this cufu,insted in th'
 era of high prices.
 The amount of interest which may b'
 charged under the flaw for loan upoI
 the certificate is considerably less thar the going or legal rate which banks ar,
 permitted to charge in many states. Ina the veteran would be handicapped fl making loans in such states is evident I Financial Position of the Government 4 An increase in tie gov ernment in
 deptedness of 2,21O per cent during tn
 war years has been noted. The govern
 nent viii be called upon to rotlrs ovs