The midland journal. (Rising Sun, Md.) 1885-1947, 1924-03-28
SOLDIER BONUS
PASSES HOUSE.
Vote Assures Passage Over
Veto, Is Belief
CASH TO sHORT-TERM MEN
Advocates viii Make Fight To Have
Measure Reported Out Ahead Y
OF Tax acknowledgements
Result Doubtful.
CASH TO sHoRT-TERM MEN

h. = 4 .t ss1 j
Washington. The soldier-bonus
bill, carrying 2O-year paid-up en-
dowment insurance policies as the,
principal feature, was passed by
the House by the overwhelming
vote of 800. to 81, with four mem
beers voting present"
The majority was 50 more than the
two-thirds required under the suspen-
sion Of the rnlss adopted for acting
upon the BILL
The legislation now goes to the
Senate, where, because Of its radical
departure from the measures preyi-
ously considered, the final action cam
not be forecast with any degree of
definiteness. The support of 20 Sena-
tors, four more than the two-thirds
necessary to override veto on that
side, claimed for, the bill by it's 3advo-
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-reduction 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
Dictated they will urge this program.
The bill as it, goes to the Senate
carries three features:
1. Cash payments for veterans who
have $50 OF. less due them.
2. Cash payments, divided into 10
quarterly instruments for the depend
ents 81 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 $1,25 for overseas duty. with max
imums of $500 for home service and
$625 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 entitie lhim to the maximum of
$625, IL he, served part of his time
overseas, he will be allowed credit for
the full-time' overseas at the rate or
$1.25 a day and take of the so days
from his home service, paying only 81
. day
The veterans entitled to insurance
will receive the equivalent Of a paid
up 20.year endowment policy for the
amount which his basic cash credit
plus rs per cent. would purchase from
private insurance company at his
age and interest at 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 loan
value up to 80 per cent. of the loan
value Of corresponding policy in a
private company. Ss
This loan value increases each year,
but at NO time can 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
tricts and to, prevent the loans from
becoming frozen assets" reserve
banks are authorized to discount them.
Analysis of the official roll-call
shows that lit Democrats, ITS Repub-
iicans. one Independent, one Socialist
and one Farmer-Laborite voted for
the bill and 20 Democrats and "a Re-
publicans against it. Two Republi-
cans and two Democrats were paired
against the measure.
Republicans opposing the bill were:
Alderman, 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, Tilson, Tonk-
ham, Treadway, Underhill, Vain
wright, Ward, New York; Watson and
Winslow. M
Twenty Democrats Oppose.
Democrats against: Bland, Virginia;
Box, Boyce, Brown, New Jersey;
Byrns, Tennessee; Collier, Corning
Davis, Deal. Dominick, Drewry, Gar
rett, Tennessee; Garrett, Texas: Hook
or. Humphreys, sLanhan, Montague,
Moore, Virginia and Woodrum.
Republicans paired against: Smell