Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-28
LONG LINES FORMED
BY LOAN-SEEKERS
Bonus March Reaches Large
Proportions, With Plenty
of Cash on Hand.
Continued From First Page)

CONTINUED From First Page)
Sixteenth street in front of the La
Fayette Hotel at 10 O'Clock.
Many veterans were in line early this
morning in addition to the hitch-hiker
from California.
It was a rather serious crowd. The
old POPULARITY of pay day in the Army
seemed to be somewhat missing, al
though there was little joshing now
and then. The veterans were rot so
much concerned with "reminiscences OF
their fighting days in France as they
were with the question of how much
money they could get. The biggest
question Of all, however, was when do
we get it?"
The answer to this big question could
be offered by no one. But veterans
Bureau officials pledged the fullest CO.
operation Of the well prepared machin-
cry to get the checks as soon as 1t was
humanity possible.
The first check was mailed yesterday
afternoon by Col. George E. Ijams,
director Of the Veterans Bureau. and
700 more checks which had previously
been prepared and early applications
were dropped into the mail bag i'm
mediately. During the afternoon about
300 more cases were wound up and
checks put in the mail.
Although President Hoover had vetoed
the bonus bill, he announced last night
everything would be done to facilitate
carrying out the law. He requested
Gen. Frank T. Hines, administrator of
veterans affairs, to give priority to vet
Grams in need, and plans for doing this
were in preparation.
Urges Necessary Loans Only.
Gen. Hines in a radio message last
night called upon the veterans to let
those most in need submit their appli-
cations first. He also urged veterans
not to borrow unless necessary, point
ing out that loans cut into the certif-
Gates value as paid up endowment
policies.
The new bonus law involves pc
tential outlay of about $1,700, 600, 900.
II, however, only the needy veterans
apply for the bonus, 1t is estimated by
President Hoover that the drain on the
Treasury might be limited 10 only 10
per cent of this total.
1.-The recent survey of the larger cities
shows, in the opinion of the admins
traitor OF veterans affairs, said Mr..
Hoover, that about per cent Of the
total number Of veterans in industrial
centers are now receiving support from
the local unemployment and other relief
committees. This bill will relieve some
Of the burdens now being carried by
these committees, but as the amount
possible for many veterans 20 borrow
under the bill Is SO small, it is urgently
necessary that the local committee shall
continue their service to many veterans
Many questions still appear TO be
rising in veterans minds as to how
the loans are figured. For the benefit
of those still in doubt the situation Is
described briefly as follows:
A veteran may borrow up to so per
cent of the total face value of his adj
justed service certificate, which is the
large green and gold paper looking
somewhat like a Government bond or
life insurance policy.
includes Previous Loans.
This SO per cent, however, must in
clude all previous loans which the
veteran may have made, either from a
bank or from the Veterans Bureau.
If a veteran for instance has Dor
rowed 10 per cent of the face value
in the past, he can now borrow only
what Is left of the so per cent. In
deducts from the so per cent not only
the principal of the previous loan, but
also the interest.
1t is necessary for the veteran to
know where his certificate is. If he
has made a previous loan, his certifl-
cate will be held as security, and he
will have a so-called pink slip show
ing the amount of the loan and where.
his certificate Is If he borrowed from
a bank and failed to repay the bank,
it is likely that the bank, when the
loan fell due, turned his certificate over
to the Veterans Bureau, which reim-
bursed the bank.
In that case, to make an additional
loan the veteran should apply at the
Vermont avenue entrance of the Vet
eranS' Bureau.
If, however, the veteran finds that his
certificate is still in the hands of the
bank he should apply at the bank. If
a veteran had borrowed money through
the regional Office of the Veterans Blu
reau at 1540 I street he should come
back to that same place for his addi-
tional loan.
II a veteran has never borrowed
money before on his certificate he should
go preferably to the Vermont avenue
entrance, but he could also go to the l
street entrance.
Many Plan to Pay Debts.
Many of the veterans in line today
said they were going to use part of the
money they got to pay off debts. One
said he was going to make payment
on home. Many had doctors, hospital
and grocery bills and other kinds of
obligations to meet.
BY IL o'clock, significant feature
of the applications was said by officials
to be the fact that out of all the
throngs applying at the central Office
today there had been only 70 requests
Of several hundred for new and original
loans. This figure Of rs was considered
low by Veterans Bureau officials, who
said they thought it was a good sign.
They had expected there would be more
original loans in the first big rush. The
rate charged by the new law is Az
per cent. This is lower than the old
law, which allows q percentage of