Evening star., 1922-03-16
SOLDIER BONUS BILL
AGAIN INTRODUCED
WITH NEW CHANGES
Fordney Submits Majority
Report, Claiming 'Adyan-
tages of Plan"
PETITION OUT TO CALL
CONFERENCE IN HOUSE
Representative R Lineberger Asks
Signatures for Meeting on Com
promise Measure.

The compromise soldiers bonus bill.
today in the House by Chairman Ford
ney, who submitted a majority report
from the ways and means committee
claiming these advantages of plan OF
bilr:
First. No new taxation. no issu-
ance Of new securities is at present
required.
Second. It provides for the vet
eran in need a method of obtaining
aid.
Third. The amounts required each
year after July 1. 1923. are small COM
pared to those which have heretofore
been met and can be provided with
out any difficulties or arrangement of
our financial situation.
Fourth. The plan tends to promote
savings habits among the veterans.
Fifth. 1t protects the veteran him
self and his family from misfortune
in the future.
Sixth l. will create class Of home
builders who will greatly increase the
mass Of property in the country
Meets Soldiers Approval
while perfect unanimity could
not be expected as to all details OF
the BILL" the report said, the ma
jority Of the committee believe that
the plan in general meets the ap-
proval of the soldiers and of all of
those who are in favor of granting
to them additional compensation ip
any form whatever
Favor Bank Plan.
discussing the objections raised to
the bank loan provision of the ad-
justed service certificate plan SAID
the majority Of the committee was OF
the opinion that the amount that
would be borrowed from banks on
the certificates would be compare
lively small"
Although they constitute ideal Sc
curities for the savings banks" the re-
port said. ANY bank may, II 1t sees
ing the loan before it is made, and II
is believed a majority of the soldiers
will not, in any event, ask for loan
upon the certificates unless they have
some special need for the money. II
is estimated by the committee and
veterans will take the certificate plan.
S550,O00, 900 the Utmost.
Assuming this to be correct. the
utmost that could be loaned by the
banks. if all applied for loans, would
be $550,000,000.
The committee feels safe in assum
ing that not to exceed one-half Of
this number (S5 per cenD will make
application for loans during the whole
period; in other words. that not more
than $275,000.0O0 will be borrowed
from the banks and that this sum ie
much more than will be out at any
one time: The total amount of the
assets Of the national banks is ap-
proximately $4,000, 100000"
Percentage Very Slight.
The assets of the other banks are
O00, ,00O, 900. The percentage of money.
which will be drawn out of the banks
by this plan is. therefore. very slight
compared to the total amount of the
assets of the banks-in fact, less
than seven-tenths of one per cent.
TT has been suggested that some
plan of taxation to meet the estimat-
ed expenditures under the bill ought
to be brought forward in connection
with it. A table is submitted show
bin during the fiscal year ending
June 80. 1928, cannot exceed $75.000,-
900, and after having carefully gone
over revenues and estimated expendi-
lures during that perlOQ the majority
of the committee is satisfied that no
new taxation nor special provisions
are needed until after the expiration
of that fiscal year.
Would Provide I'm Advance.
ut would be unusual If not un-
precedented proceeding to provide
now for taxes to meet expenditures
which will not be made for more than
a year. It would not only provide
funds in advance of the time when
they were needed. but any estimate Of
the government expenditures for the
fiscal year of 1894 and the amount of
revenue needed would necessarily be-
very inaccurate at this time.
Land for Soldiers Alone.
Another objection that was strenu-
ously urged to the original plan was
that the land settlement plan might
be enormously developed to include
irrigation and other projects not
|, only for the service men, but for the
public generally. While the commit
tee did not feel that the original bill
could be properly SO construed. it con-
cluded to remove all doubt by pro-
viding expressly that no applications
under the land settlement plan could
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