The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1923-12-21
THE SOLDIER
CONF ENSAT|ON.
JUSTED COMPENSATION
MEASURE DEFINED UNDER
STANDINGLY.

With the large amount of soldier
bonus" talk going on, 1t is well TO
understand what is wanted by the
ex-service men. Discussion through
out the United States is general and
the larger part of the talk is under
a mistaken idea of what the COM
pensation measures actually call for.
AS can be seen there is no special
amount of money asked for and
that the total is not for payment at
one time.
All forms of adjusted compensa-
tion are based on the Adjusted
Service Credit" of the veteran, 81
per day with maximum credit of
$500. Overseas service at $1.25 per
day, with a maximum adjusted SER
vice credit of $625. Here are the
options open to the veteran:
1. Adjusted service pay. (The
cash plan). The bill provides that
only those veterans whose adjusted
service credit is $50 or less, may re-
ceive this credit in cash. There
will be no cash payment to vet
Grams whose adjusted service credit
is more than $50, but they may
avail themselves of the following
options:
2. Adjusted service certificates.
(A) Insurance payable at the end
of 20 years as follows:
1. Face value is amount of ad-
justed service credit, plus 40 per
cent thereof.
2. Plus Az per cent interest
compounded annually for 20 years.
3. Face value payable to veteran
at end of 20 years.
A. If veteran dies prior to 20
years beneficiary gets full amount.
5. Policy holder can change bene-
ficiaries.
6. If veteran dies without named
beneficiary, amount goes to his
estate.
OBJ Loan value, as follows:
l. During first two years, no
value for loans.
2. During third to fifth years in
elusive, veteran may borrow 90 per
cent of adjusted service credit, plus
" per cent interest thereon, COM
pounded annually, from date certifi-
cate becomes effective, to date of
making loan.
8. During sixth TO goth years
inclusive, veteran may borrow 80
per cent of adjusted service Credit
plus 40 per cent thereof, plus inter-
est at 4 u per cent on the total,
compounded annually from date
certificate becomes effective, to date
of making loan.
4. Application should be thru any
1st, End Or 3rd class postoffice.
Payments to be made at these points
also.
5. Loans run not over the length
of the certificate. and bear 4 " per
cent interest on unpaid principal.
6. Payable as may be agreed, in
payments of such size as to take
care of interest and such part of the
principal as will extinguish debt at
the date agreed on.
z. Certificate is forfeited if notes
ARE unpaid more than two years.
8. Such policy is not negotiable
nor assignable, nor can it be used
to secure any other loan than as
above. If so used, it is voided and
forfeited.
3. Vocational Training Aid:
Provides for the payment to appli-
cant not already receiving voca-
tlonal training, the sum of $1.75 per
day, the whole amount not to ex-
coed 40 per cent of his adjusted
service credit, on a course of voca-
tional credit for the purpose of:
(A) Improving city or suburban
home
OBJ Or farm not selected under
adjusted compensation plan No. s
(below.)
Co All this subject to approval
of the secretary of the Interior.
Cd The money may be paid di
rect to the veteran or his debtor.
5. Land Settlement: /. Give.
preference of 60 days for veteran.
on any land opened for homestead
or reclaimed lands for sale by gov
eminent
6. Veteran may receive from the
government. his adjusted service
credit, plus 40 per cent for the sole
purpose of applying same on the
purchase price of such lands.