Every evening, Wilmington daily commercial., 1922-03-02
NO CASH FOR BONUS,
HOUSE COMMITTEE
FINALLY AGREES
Proposed Compensation 81 for
Domestic Service, s1.25
for Foreign.
f0RDHEY STATES TERMS
BY Associated prass to riv.ry E5yrn,ur

bs HnsociS'en frass 10 tvsrr FrY~niur.
Washington. Mar. 2.-Unanly-ous
agreement to eliminate the cash fea-
turs Of the soldiers bonus. except in
the case Of mon whose adjusted SER
vice pay would not exceed $50 was
reached today by the special cub |
committee OF Republican members Of 4
tho House Weyn and Means commit
too TO which the whole bonus question |
was referred yesterday.
Service pey vas computed at 81 n
day for domestic nervice anc s1.25 for
foreign.
This official statement of the egree-
nont Of the subcommittee was issued
by Chairman Fordney:
The subcommittee consisting Of
Chairman Fordney Messrs. Green.
Isongworth. Hawley. TreaI,way ana
Copley have tentatively agreed m and
prepared n provision TO be submitted
which in substance is as follows:
The elirdination of tho cash fea-
tures OF the bonus bin where tho vet
Grams are entitled to more than $50
adjusted eervice pay. but adding new
loan provision 10 tho adjusted service
certificate title which will enable
holders Of such certificates to borrow
from any national bank or bank or
trust company Incorporated under the
laws of any state nifty per cent Of the
sum OF the adjusted service pay prior
to September 30. 1925. This date was
ixed because after that tlne the bin
es originally drafted by the commit
tee provides for larger percenta ge
Of loan by the government and has
not been changed by the CUB cor1rait-
tee"
CfsnrTr~us Sortney said tsde PIN
wcs expecfe5 TO meet with .srnefal
approved sfnce - enabled the Soldiers
who ncsy be in need 10 obtxin cash i'm
r1edistely after the issuance of the
certi1cetes would relieve the tr~asur-y
ri ,nY large cash peyrrent during
the enormous refunding operations
which must be carried out in the next
two yeero and would rls,ce nc sddi-
'ionsl tex burden upon the public.
Many details Of the proposed amend
nent TO the bonus bill remain to be
yOrked out and Mr.. FU-1ney said a
week probably would pass before no
plan was ready for submission to the
entire Republican membership Of the
committee. lie declared Ghat provi-
sions safeguarding the rights OF she
holders end limiting the amount OF In
terest which the banks could charge
l'for the loans would be made.
\ Governor Harding. Of the Federel
Reserve Board, was before the SUD-
committee today discussing the inter
est and other questions. A suggestion
was made that the interest rate should
not exceed a figure greater than 9
per cent above the rediscount rate OK
the regional reserve banks.
Under another tentative provision
being considered the title TO the cert.
ficates could not be disposed IF by ths
service men. The loans could De made
only by national or state banks and
trust companies, the idea being, Mr..
Fordney explained. to prevent the GER
tiflcates falling into the hands Of loan
sharks.
Before obtaining any more money
from the treasury the banks would
have submit afiidavits that they had
not charged more than the legal rate
of interest.
The hope that the administration
will not continue to procrastinate very
much longer. and will fulfill the prom
ise made in the last national election,
and pass the veterans adjusted COM
pensation bill without further delay"
is expressed by Edwin S. Bettelheim,
Jr., chairman of the National Legls-
| lative committee of the Veterans Of
Foreign Wars. in a letter TO Presi-
dent Harding made public today.
Mr.Bettelheim wrote today the
President he was in receipt Of a report
| showing 10000 OF the 10000 former
service men in Cuyahoga county
Ohio. who applied for the adjusted
compensation voted by the State OF
Ohio were unemployed
IF this Is indicative OF the condition
existing throughout the country" the
letter said. 1T would mean that ap-
proximately 100000 of the ex-ser-
vice men are out OF employment. How
many OF these are in destitute cir
cumstances would be hard to tell, but
the report shows that a good many
were dependent on odd Jobs and the
were rependent on odd jobs and the
good favor of others.
This example from one Of the
larger counties In your home State is
typical of the condition OF the former
servicemen throughout the country"