The Hartford republican. (Hartford, Ky.) 18??-1926, 1922-06-02
BONUS MEASURE GETS
@. X" IN COMMITTEE
Bill Effective January 1, In
stead Of Oct. 1st.,
However.

washington, May jl.--the COM
monty known McCumbsr soldier
bonus plan. was ordered favorably
reported today by the Senate Finance
Committee. The vote was 9 to 4.
The effective date of the bill was
changed, however, from next Octo-
Der to January l., 1928, after Sem
ator Walsh, Democrat, Massachusetts,,
told the majority that 1t would take
six months to get the bonus machin-
cry in operation.
The Smoot plan providing for paid
up life insurance in lieu of all other
forms of compensation was defeated
by a vote of to s, the three Demo-
Gratis prssent-Simmons, Walsh and
Gerry-voting against it, Joined by
McCumber, Curtis, Watson, Suther-
land and La Toilette, Republicans.
Senator Mclean broke the tie
which has existed among the Repub-
lican members on the vote to report
the McCumber plan which is the
House bill with some amendments
including elimination of the land set
Element or reclamation project. Sem
ators said reclamation was not dis
cussed. although House leaders and
some Senate supporters of reclama-
tion legislation have urged that the
Smith-McNary reclamation bill or
some similar legislation be attached
to the bonus measure.
Several of the majority members
of the committee gave notice to
Chairman McCumber that they would
oppose laying aside the tariff bill for
Senate consideration of the bonus at
any time in the near future. Chair
man McCumber replied that he in
tended to get as prompt consideration
of the bonus bill as could be worked
out. but did not state whether the
tariff measure would be laid aside.
The committee eliminated the fore
fixture provision as contained in the
House measure, under which veterans
failing to pay loans to banks or to
the Government would have forfeited
their adjusted service certificates. In
such cases the Secretary of the Treas
ury would restore the certificates to
the veteran in whose name it was is
sued at any time prior to its maturity
up, in receipt from him of the amount
paid by the Government to the bank |
plus interest at the rate of 1-2 per |
cent, compounded annually.
Under another amendment, APP
proved by the committee, veterans |
could make application for adjusted |
service compensation at any time af-
ter the passage of the law. The House
measure would have limited the time
to July 1, 1928.
Summary of Bonus Bill.
Washington, May S1.-The Nc
Cumber bonus bill. approved today
by the Senate Finance Committee, is
as follows:
Cost s3,S0O,OO 200 at the end of
twenty years (McCumber's ,estimate)
Financing: No method provided.
Rate Dollar a day for home SER
vice and $1.25 day for foreign SER
vice.
Cash provision: Limited to vete-
rams getting $50 total.
Certificate provision: Amounts to
.hree times computed cash due each
man, to be paid at end of twenty-year
period.
Home or farm provision. Veteran
IAN obtain from Secretary of Interior
'ull cash in 1928 IL spent on purchase
If home or farm or on debts so con- |
racted. Cash amount increases to lao
,r cent in 1928 If spent in this man {
Ter. 4,
Vocational training provision: Vet I
ran is paid $1.75 PER day while un- !
ler' vocational training provided by
total amount not to S
xc'de lao per cent of cash value OF
lis bonus.
Loan provision: National banks l
uthorized to loan SO per cent of face
alue Of bonus certificate prior to
anuary 1, 1926. and Postoffice De-
artment authorized to make same Il
pans thereafter. Il
l.