The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-08-31
(By Associated Press)

(By Associated Press)
WASHINGTON, Aug. 31-A final
vote on the soldiers bonus bill before
adjournment of the senate today ap-
peared to be reasonably certain All
pending amendments had been dis
posed of and general debate begun be-
fore the recess last night.
As far as leaders were advised
only three or four senators planned to
deliver prepared addresses, but there
was likelihood of another general dis
cussion such as has occurred each of
the seven days the bill has been under
consideration.
Passage of the measure was regard
ed as foregone conclusion but wheth-
er 1t would reach the statute books
was conceded by friends and foes alike
to be another question. They held
that this probably would depend on
President Harding since it was regard
ed as very doubtful that there could
be obtained in the senate the neces-
sary two-thirds to pass the bill over
an executive veto.
Houses Must Agree.
1t will be sometime, however, be-
fore the measure reaches the White
I House. After the senate vote it will be
sent back to the. house, which is ex-
pected to order it to conference for
adjustment of the differences between
the two houses. After the conferees
complete their work the next step will
be action by the house and senate on
the conference report With that ap-
proved the bill would be ready for the
president.
AS amended by the senate the sol
diers' bonus bill would become effec-
tive January /, 1928 and would provide
three optional plans for veterans CT
the World war. other than those
whose adjusted service pay would not
exceed $50, These would be paid in
cash. The options are:
Adjusted service certificates, paya-
bic in 20 years or sooner at death and
containing loan provisions.
Vocational training aid at the rate
OF S1.l5 a day UP to total OF 140 per
cent of the adjusted service credit
Home Ownership
Aid in purchasing a farm or home,
the total amount to range from 100
per cent of the adjusted service
credit if the money were advanced in
1923 to 140 per cent of the adjusted
service credit if the payment were
made in 1923 or thereafter.
Adjusted service pay, or adjusted
service credit, would be figured on the
basis of 81 a day for domestic service
and $125 a day for foreign service,
less the $50 paid at discharge. But
IN no event could the amount of the
credit of the veteran who performed
no overseas service exceed $500 and
the amount of the credit of the veter-
an who performed any overseas ser
vice exceed $62S.
Adjusted service certificates would
have u face value equal to the sum
of the adjusted service credit OF the
veteran increased by 25 per cent
plus interest thereon for 20 years at
the rate of AZ per cent year com
pounded annually.
Banks May Loan Money
Until Jan l. 1926, any National
bank, or any bank or trust company
INCORPORATED under the laws of any
state, territory, possession or the dis
trict of Columbia, would be authorized
to loan to any veteran upon his prom
issory note secured by his adjusted
service credit plus interest Thereon
from the date of the certificate to the
date of the loan, at the rate of A.:
per cent a year
Should the veteran fail to pay the
principal and interest of the loar
within months after its maturity thC
government would pay to the the
amount of such principal and interes
and take over the certificate. Thi'
would be restored to the veteran a
any time prior to its maturity upol
receipt from him of the amount pait
by the government to the bank plu
interest on that amount at the rate o
AZ per cent year, compounded an
nually.
The rate of interest charged tn
veteran by the bank could not exceet
by more than two per cent year tn
rate charged at the date of the loal
for the discount of commercial pape
by the federal reserve bank for tn
federal reserve district in which tn
ank was located.
If veteran died before the matul
Continued on Page Fourteen)
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