The Waterbury Democrat., 1935-03-22
Representative Has Other Plans To Aid
 In Obtaining Bonus
Favors COchranAndrews Bill Which Includes Tydings Plan in Preference to Patman Measure He Voted
 Against Yesterday-TOS Spend Week-End Here

The disappointment and indigna- tion of hundreds of World war veterans over Congressman J. J6- scph Smiths actions in voting against the Patman bonus bill, so- called, were somewhat tempered to-day with the announcement that Waterbury's representative to Con- gress ''has other plans" to obtain "adjusted compensations". Con- Eressman Smith was joined by his associates, Major James Shanley and Herman B. Koppleman In registering, thumbs down" on the Patman measure. Waterbury be- ing decided "Pro-Bonus", there was a noticeable wave of indtgna- 1ion current to-day. There were some bitter denunciatory remarks made. Talks of 8 grievance ps- tition" being forwarded at once to the dissenting congressman was rampant. Unofficial leaders of the American Legion, D. A. w., and Veterans of Foreign Wars took oc- casion to voice their feelings.
 Smiths stand
 Later in the day, however, an explanation was received iron, Congressman Smith. He has aligned himself with advocates of the Cochran-Andrews bill, which includes the Tydings plan. It is his contention that the Patman and Vinson bills would be vetoed by the president. Their advocater are fighting their way up 9 blind alley" the congressman writes.
 The Andrews bill he favors calls for the issuance of bonds in the present value of tho certificates held by World war veterans, to bear interest at per cent to 1945. These bonds would be given to veterans in exchange Tor the certificates they now hold, and could be sold at par, to yield about 80 per cent of the face amount of the certificates. If they were held, they would pay the same amount by 1945, including interest, that the. present certifi- cates would pay at that time. It is believed that President Roose- welt would sign a bill based on this plan.
 "The Letter"
 Cong. Smiths letter to local J.egionnaires stating his position on the bonus is as follows:
 "I have given a good deal
 QR thought to the various
 bonus bills now before the > Congress, and I expect to sup
 port the Cochran-Andrews- bill which includes the Tyd-
 ings plan, except that I be-
 lieve it should in all fairness
 remit the interest already
 charged on loans on certifi-
 cates which are taken up un-
 dor this plan. It should be
 amended before it is offered on
 the floor. My reasons for sup
 porting it are briefly as fol-
 lows:
 First: It does not ma terially increase the amount of
 money which 1t will be nec- raise to pay off the adjusted
 service certificates. I believe
 this is important in view O. the. large sum of money which
 we have found it necessary to appropriate for the relief of
 the needy in general.
 Second: It does enable the .| veteran who is in need to ob- tain the present cash value of
 his certificate at once.
 Third: It enables the vet
 eran who wishes to treat his
 bonus as an insurance for the, future, and who is able to do so, to continue his present
 certificate or obtain negotiable bonds bearing interest until 1945.
 Fourth, and most important from a practical standpoint for the veteran, it would in all probability pass the Senate as well as the House and be sign ed by the President, there- fore actually accomplishing something for the veterans. It is my firm conviction that while either the Vinson or Patman plan can pass the House, that the Patman plan cannot pass the Senate, that