New-York tribune., 1922-03-11
L o''eI'ney to Give
Bonus Bill to
House To-day
Drha,e 10 Begin Week From
Monday Under Suspend
cd Rule TO Preclude ANY
Ancndmcnl of Measure
Crissinscr Attack Ignored
Committee Believes Bankers
VIII Make Soldier Loans
Without Injury 10 Credit

irom The Trtbupcs WoshWoion Burcou
WASiINGTON, March 10. The sol
dicrs bonus bin viii be formally
afternoon by favorable vote OF tho
Ways and Means Committee. Chairman
Fordncy predicted tonight Present
plans call for opening debate on thc
floor ono week from Monday under
suspension Of tho rules prccludlnc any
amendment Of Tao measure.
Upon returning to the capital to day
from srcakinG tour in Chicago.
Representative Fordncv announced that
the program for pushing the bonus bill
1 through the lower body was unchanged
/ Tho attitude Of Comptrollcr Of the
! Currency Crisslnecr. who stated he
would advise the banks OF the countrv
against accepting the adjusted service
certlncates rs collateral for loans. is
answered, SAID Mir. Nordncy, by the
testimony before the committee Of
Governor Harding Of the Fcdcrnl Re
serve Board That official. according
! TO tho chairman, told thc Rcprcscn-
tatiYcs that the amount Of tho soldier
loans would be so negligible it would
not seriously affect the financial struce
turc Of the countrv, and, while he did
not give fat approval to tho plan, he
indicated he would not oppose IT,
Low Estimate on Loans
/ In going over with the Ways and
Means Committee thc workings Of the
! proposed certificate plan and its Dor
rowing privileges MIR. FordneN re-
vcalcd that Governor Harding csti-
mated thc total of the loans would not
outs tandlng credit of tho Federal
/ Reserve system, which is said to be
about SS5, 900 900 900
The committee figures. according 20
/ Representative lIawlcy, Republican. Of
Oregon, one o. tnc members, that the
number Of former service men entitled
10 the benefits OF the bill viii bc ap-
prcN imatclv 4.lGS 600. or that number
close TO 46S 900 viii receive the casn
bonus Of $50 or less, leaving abou.
5000 900 who may select either tho Ger
tltcatos or any OF tho other optioas.
The estimated average face yaluc of
the certificates will be about S315. their
4 total making 8 300 600 900 The borrow
ing privilege for -hc frst three wears
after tho enactment OF the bill permits
loans OF only 80 per cent of the face
value. so that the maximum demand
upon the banks should every certificate
holder present his paper for cash would
he about $150,000 900. Allowing tho
extremely wide possibility that ono
half of the holders viii want cash dur
ing the three year period, the demand,
in round numbers, is figured at $375,-
100000, which is slightly moro than
/ per cent of the Federal Reserve out
standing credit.
Call Figures Best Answer
These figures, say the committee.
answer Mr.. Crissingcr, aud they there
tore do not consider his stand sori-
Gus menace 70 any part OF their bill
"lhC ErissingoY statement does not
change the situation,' said Representa-
tive iaWley at does not make the
paper less bankablc and am inclined
to agree with tho Federal Reserve chat
the banks will be glad TO accept the
certificates.
practically, il not exactly, as it is re-
ported from the committees"
Members Of tho House were called
upon to-day by Representative A.
! Platt Andrew, of Massachusetts. in y
letter sent to them all, to vote for an
amendment to the bonus bin inserting
, ~ II retroactive provision emitting
the heirs or estates Of soldiers who
have d'ed TO collect the adjusted pay
Charges Injustice
The Bill proyides.' said the letter.
mat in case veteran applies for sd-
Justed compensation and dies before
receiving it the compensation to which
he was entitled, but which ne had not
received, shall be paid to designated
beneficiary or failing. that. to his es-
tate; but on tho other hand. if he died
curing the war, or since the war and
before the act goes into effect, and so
never had a chance to file an applica
tion, no provision is made to pay his
adjusted compensation to bis heirs or
estate. Certainly neither logic nor
JustIce warrants making distinction
between the heirs of those veterans who
may die week after the law goes into
effect and the heirs Of veterans who
may die a week before Above all. the
injustice is manifest OF favoring the
heirs Of veterans who may die in civil
lie IN the future, as compared with the
heirs OF those who died while actually
III the military or naval service Of the
country, Including those who died on
the field o. battle"
visions was submitted By Mr. Andrew
to the Ways and Means Committee. but
was rejected by d vote of five to four.
Should the amendment never be all
lowed TO come before the House for
vote, the letter continues, zone man
VII thcn have given ehe final decision
upon matter which concerns the most
deserving sufferers from the war. and
for this decision all Representatives in
Congress who support the adjusted
compensation bin will be held responsi-
BILE If the justice of this amendment
appears as clear to vou as il does to
the undersigned, bcapeak your SUD
port for it and ask that you urge upon
TIE members Of the committee its in
corporation in the bill before the bin is
reported to the House
Alleges Roads Ignore Board