Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1922-03-03
AGREE UPON A
PLAN TO RAISE
BONUS FUNDS
Subcommittee Unanimous
" Favors Tentative
Plan as Compromise
PRESIDENT FAVORS
Scheme Also Meets Approval Of Anne
rican Legion Officials Now In Wash
ingtOn.

Washngtont March 3.-A COM
promise soldiers bonus plan, under
which the cash feature would be elm
mated where the former service men
would be entitled to more than 500 adj
justed service pay, was agreed upon
yesterday tentatively but UNANIMOUSLY
by special subcommittee OF the Re-
publican members OF the House Ways
and Means Committee.
IN the nature of substitute for the
discarded cash feature there would be
added to the adjusted service certiti-
cate title Il provision which would en-
able the men selecting the certificate
option to obtain Immediately from
banks Il loan equal t one-ha!t OF the
adjusted service pay to which they
would be entitled on the basis OF 81
day for domestic service and SID
day for overseas service.
In announcing the compromise
agreement, Chairman Fordney said 1t
probably would be week before all
details of the loan provision could be
worked out and the original bill
amended to conform to it. He ex-
pressed the opinion that the plan
would be so we'll received by House
members generally that it wou Id not
be necessary to submit the new bill to
a partr conference, thus speeding up
the time Of its submission TO the
House
For the first time since the Ways
and Means Committee majority began
consideration Of the bonus problem.
an official statement of what happened
behind the closed doors was issued.
1t was prepared by Chairman Ford
ncy and Representative Hawley, OF
New York. and said:
The subcommittee. consisting of
Chairman Furdfey, Messfs. Green.
Longworth. Hawley. Treadway and
Copley, have tentatively agreed upon
and prepared provision 10 be sub
n1t;ed which in substance is As fol-
lows:
The elimination of the cash feature
OF the bonus bill where the veterans
are entitled To more than $50 adjusted
service pay, but adding new loan
provision to the adjusted service Ger
titica.e title which will enable holders
of such certificates to borrow from any
ratinna! bank, bank or trust company
Incorporated under the laws of any
State, 80 per cent of the sum Of the
adjusted service pay prior TO Septem-
Der 30, 1925. This date was fixed be-
cause after that time the bill as orig
ina!lr drafted BY the committee pro-
vidcS for larger percentage OF loan
by the government and has not been
changed by the subcommittee.
Chairman Fordncy and oIer COM
mittcemcn said they believed the new
plan would meet with general favor
in and out Of Congress for three rea-
sons. which were summarized as tol-
lows in formal statement issued by
Representative Green. Of Iowa, rank
ing Republican on the committee:
/. The needy veteran can obtain
money rs soon as his certificate IS is
sued and in Greater amount than is
provided by the cash plan of the orig
inal bill.
No large drafts to he made on the
treasury until the expiration Of three
years.
,. 40 new taxes required.
Word went around among House
members that the compromise plan
was acceptable both to President
Harding and to officers of the Ameri-
can Legion. and late in the day. after
there he'd been Informal exchanges Of
views among members in cloakrooms
and corridors. it was said that appar-
emily strong sentiment in favor Of
the new proposal was developing.
Cuba's 1919 crop is officially esti-
mated AS being worth S491 ,76l ,547.
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