Evening star., 1924-03-17
HOUSE GETS REPORT
!. ON SOLDIER BONUS
| Calls for No Additional Taxes.
Green States-PasSage
Tomorrow Indicated.

! Two reports on the soldier bonus
bill we've presented to the House TO-
day by the ways and means commit
tee, four republicans signing a mi
! nority statement opposing the measure.
Chairman Green, in the majority
report. stated that expenditures under
the bill, estimated at s2.11S.Ooo,ooo'
could be met from prospective saw
! ings in current government expenses
and called for no additional taxes.
| The minority statement, signed by
Representatives Treadway. Massachu-
sets; Tilson, Connecticut; Watson
Pennsylvania, and Mills New York.
declared if the bill were enacted its
.equirements threatened the Likelihood
t0f future tax reductions.
| Prospects for passage of the meas
lure tomorrow were declared bright
to-day by proponents A two-thirds
vote is nece: sary, since the bill VIII
come up under suspension ef the rules,
, which also limits debate ahd prevents
anne ndments. -,
! Explaining provisions Of the bill
allowing cash payments to veterans
not entitled to more than $50 and
pa:d-up life insurance policies TO
others, Mr.. Green argued that it con
! fers substantial benefits upon the
J soldiers, is based on economically y
| sound principles and can be paid
for without embarrassing the Treas
age value of the insurance policies
would be about 1862.
/ Members of the democratic vet
erans group were disturbed because
! they had been denied the opportunity
| under the rules of Offering an amend
I ment providing for full cash pay
me nts as an optional of the measure,
i but leaders indicated most or them
would vote for the bill and depend on
Sc nate action for the full cash pay
ment option.
| Twenty-one of the twenty-five o
! democrat members from New York
| state signed a statement declaring
they favored immediate passage of
soldier bonus legislation. but pre-
ferred Immediate all-cash pay
ments."
Chairman Green in his report said
two bonus bills had passed the
House and one of them both the
Senate and House. The latter, he
ing, but the present measure was
framed so that it will become law"
The policies would be valued on the
/ basis of the adjusted service com
81 for each day of home service, and
$125 for each day overseas. The hrst
sixty days would not be counted.
Veterans who served more than ITO
] days and would not be entitled to
ca ash would receive a paid-up twenty
year-endowment policy for the
amount of insurance, their adjusted
service credit plus 25 per cent would
purchase at their age. Such lnsur-
ance would be computed in accord
| ance with accepted actuarial prin-
ciples and based upon American ex-
| perience tables of mortality, with in
, terest at per cent per annum, COM
pounded annually
If the veteran died before the
twenty years were up, the full amount
of the policy would be paid his
beneficiaries or his estate At ma
turitv the face value of the policy
would be payable in full The policies
! would be dated from next January L.
Estimate Of Majority Report.
| The majority report estimated the
average adjusted compensation due
! veterans would be 1892 each. The
maximum number Of days which
! could be counted are $50. Service
any time between April 5, 1917, and
| July 1, 1919, would be counted If en-
! listment was made prior to November
! II, 1918. Adjustment service credit
| Of $496.62 would be worth a policy
valued at $1,000.
| Chairman Green estimated that on
January 1, 1924, there were 3,03S.2S3
| veterans living who would be entitled
OVoDtipund op poUo . Colunn 5l