The New York herald., 1922-05-13
M'CUMBER BONUS
HAS ANOTHER RIVAL
Bursum Proposes Straightout
Cash Raid for Clean Up
in Five Years.
ONLY TWO BILLION COST
Secretary Of Treasury to Issue
Note Based on Foreign Debt;
Land Scheme Also.
Special Dispatch to THE new FORK HERALD.

Special Dispatch to THE NEW FORK HERALD.
New York Herald Bureau.
Washington. ID. c.. May L..
Bonus legislation by Congress was
further complicated to-day by the in
PRODUCTION in the Senate OF a bill by
Senator Bursum IN. NJ as substi-
tute for the pending McCumber meas
ure now under consideration by Presi-
dent Harding.
The Bursum bill provides as its chief
option a straight out cash bonus. and
1t will force a showdown among the
Senators on that issue. A cash COM
pensation. under provisions of the
Bursum bill would be given to each
ex-service man. on a basis Of 81 a day
for home service and S1.25 day for
overseas service
All ex-service men entitled to 500 or
less would be paid spot cash in full.
while those entitled to more than 500
would receive 80 per cent. Of the amount
due them, and at the end Of five years
the remaining 30 per cent, with in
terest on the deferred payments at tha
rate OF sh per cent.
The Bursum measure also provides
other options but eliminates the insur.
ance plan and the land settlement .fea-
lures contained In the Fordney bill.
bill.
Alternative Proposal.
One alternative proposal would entitle
veterans to buy land on the public do
mains at $1.25 an acre. and another Is
farm and homo provisi> by which
the beneficiary could apply his compen-
cation for that purpose
The bill specifically states that the
money needed to finance the bonus could
be obtained by the sale Of the foreign
bonds after they have been fur6sd. The
Secretary OF the Treasury is 10 issue
the certificates to the veterans and they
shall, be dated as of October l. 1922.
The amount of the face OF certificate
Of indebtedness shall be payable d to
the veteran on September 30, 1927. or go
upon the death of the veteran prior
thereto to the estate of the veteran
en- September 80, 1927. No right to adj
justed service pay or to certificates
of indebtedness under the provision Of
the act shall be assignable or serve as
security for any loan.
What Senator Claims.
Senator Bursum said his plan would
cost about 81, 900, 100000 or less than
half the cost Of the McCumber plan.
The saving, he estimates, would come
from not adding the 25 per cent. bonus
as proposed in the McCumber bill and
in not being obliged to set up costly
Federal machinery to operate.
He pointed out that the Secretary OF
the Treasury could handle the cash OPP
ton with small addition to his present
force. while the ether options couFd- be
enforced, through the Veterans Bureau
Senator Bursum said he did not con-
suit Senator McCumber or any other
members, of the Finance COMMITTEES be-
fore introducing his bill. He admitted.
however he had conferred with many
ex-service men and they are enthusi-
astic over 1t. as most OF them want
cash. and for that reason they are not
much pleased with any Of the plans now
before the Senate
He declared that number Of Sen
ators have expressed preference for his
bill over any measure yet proposed.
The Bursum bill was referred to the
Finance Committee where It probably
will slumber until after the President
acts on the McCumber and Smoot plans
now before him.