Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1924-03-28
SOLDIER BONUS
PASSES HOUSE
Vote Assures Passage Over
Veto, Is Belief
CASH TO sHORT-TERM MEN
Advocates Will Make Fight To Have
Measure Reported Out Ahead
OF Tax Reduction-senate
Result Doubtful.

Washington-The soldier-bOnus
bill, CARRYING 20-year paid-up en-
dowment insurance policies as the
principal feature, was passed by
the House by the overwhelming
vote of 35J to 81, with four mem.
bers voting present"
The majority was so more than the
two-thirds required under the suspen
sion of the rules adopted for acting
upon the bill
The legislation now goes to the
Senate, where, because of it's radical
departure from the measures previ-
ously considered, the final action can
not be forecast with any degree Of
defniteness. The support of 40 Sena-
tors, four more than the two-thirds
necessary to override veto on that
side. claimed for the bill by its advo-
Gates. was based on the original four
option plan approved by the veterans
organizations.
A fight will be made by bonus ad-
vocates in the Senate to have the
Finance Committee bring out the bill
ahead Of the tax-reduetion> legislation.
which also has passed the House and
now is pending before the committee.
Senator Curtis, the Republican whip
and member of the Finance Com.
mittee. Senator Lenroot and other
Administration Republicans have in
dicated they will urge this program
The bill as IT goes to the Senate
carries three features:
l. Cash payments for veterans who
have $50 or less due them.
2. Cash payments, divided into 10
quarterly instalments for the depend
ents of veterans who died since the
war.
8. Insurance policies for surviving
veterans who are entitled to more
than $50
Cash payments are determined on
the basis of 81 day for home service
and s125 for overseas duty, with max
imums of $500 for home service and
R625 for service abroad The first so
days of each veterans service is ex-
cluded on the theory that that period
was taken care of in the $50 cash
bonus paid upon discharge Where a
veteran did not have sufficient service
to entitle him to the maximum Of
1926, if he served part of his time
overseas. he will be allowed credit for
the full-time overseas at the rate of
s125 a day and take off the 60 days
from his home service, paying only 81
a day.
The veterans entitled TO insurance
will receive the equivalent of paid.
up 2O-year endowment policy for the
amount which his basic cash credit
plus % per cent. would purchase from
private insurance company at his
age and interest at 4 per cent, com
pounded annually
The full maturity value is payable
either at the end of 20-years or upon
death Of the veteran
After two years from the date of
insurance the policies will have a loan
value up to 90 per cent. of the loan
value of a corresponding policy in
private company.
This loan value increases each year.
but at no time can a veteran owe on
his policy, principal and interest, more
than so per cent. of the maturity
value
Banks are restricted from charging
interest at rate more than 2 per
cent. above the Federal Reserve Bank
discount rate in their respective dis
triets and to prevent the loans from
becoming frozen assets" reserve
banks are authorized to discount them.
Analysis of the official roll-eall
shows that III Democrats, LIS Repub-
licans, one Independent, one Socialist
and one Farmer-Laborite voted for
the bill and 20 Democrats and 81 Re
publicans against it, Two RepubIi-
cans and two Democrats were paired
against the measure.
Republicans opposing the bill we're:
Ackerman, Aldrich, Bacon, Burton,
Butler, Clark, of New York; Fem,
Freeman. Clifford, Graham. of Pennsyl-
vania; Morton D. Hull Lehlbach, Luce,
Magee, Pennsylvania; Magee, New
York; Merritt, Mills. Mores, Indiana;
Nelson Maine; Newton, Minnesota:
Parker, New York Perkins. Phillips.
seger, Snyder, Temple. TiIson. Tonk.
ham, Treadway, Underhill, Vain,
wright, Ward, New York; Watson and
winslow
Twenty Democrats Oppose.
Democrats against: Bland, Virginia;
Box. Boyce, Brown, New Jersey;
Byrns, Tennessee; Collier. Corning,
Davis, Deal, Dominick, Drewry, Gar.
fett, Tennessee; Garrett, Texas: Hook
er. Humphreys, Lanhan, Montague,
Moore, Virginia and Woodrum.
Republicans paired against Shell
and McFadden.
Democrats paired against; Tucker
and Galliyan