The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1936-01-21
War Spells Approval By US Revealed
Bonus Bill
ID. K.Near
InHOuSe
By WILLIAM X. HUTCHINSON
international News Service

International News Service
The House will speedily approve
the Senate's "baby bond" soldiers
bonus bill tomorrow, Speaker Jo-
! seph w. Byrns said today, adding
ut ought not to take the
House more than an hour and a
half"
The Speaker declared that he
had no information regarding
President Roosevelt's attitude, al.
though many high Administration
officials have predicted a veto.
No preparations have been made
for a joint session, such as that
of last session when Mr.. Roosevelt
delivered his veto in person,
Byrns said. If the President
wishes to follow this precedent,
it viii be arrange, he added.
The Patulan plan is "out, +"
ByrnS said, adding that Repre-
sentative Patman CD of Texas,
author of the proposal to issue
new money to pay the bonus. will
support the Senate measure.
The compromise bonus bill,
authorizing exchange Of Govern
ment baby bonds" for the ad-
juSted service certificates held
by 3,518,191 American World
War veterans. was to be forward
ed by the Senate today to the
House for prompt ratification.
The threat Of veto did not
disturb congressional bonus lead
ers. They announced the bill
would be enacted into law over
a veto, if President Roosevelt
disapproves it. Polls of House
and Senate by International News
Service confirmed these claims.
The bill called for an outlay of
$2,491 900, 900, of which only $751;
786,050 would be in cash, the rest
in baby bonds" redeemable i'm
mediately at the nearest post
office. Veterans would receive
$1,836,213,050 of the bonds, the re.
mainder going to pay off the
loans they made in the past on
their certificates.
Bonds Out In June
Administration officials an
nounced the bonds would be dis
tributed early in June, in event
the bill becomes a law. They
said several months would be re-
CURED to perform the necessary
clerical work to determine the
amount due each veteran.
I Under the bill, each veteran
will receive the face or maturity
value of his bonus certificate, less
the face value of his loan, if any,
in bonds in multiples of $50.
Amounts less than $50 will be paid
in cash. Bonds will be registered
in his name and redeemable only
by him in person. They will be
nonnegotiable, on-transferable
and free from any attachment,
ley or seizure under any legal
or equitable process. They will
bear per cent interest from June
Is and mature on June IS, 1945.
All interest, on bonus loans, &C.
cruing since October 4, 1881, will
be forgiven in determining what
is due the veteran
Vote OF "A to Is
This VS. the bill approved by
the Senate by a record vote of
IA to 16. It was in sharp con.
traSt to the final vote on pass
age of the Patman currency bill
a year ago, when the Senate ap-
proved that measure, SIS to SO,
only to sustain a presidential
veto later by vote of 81 to 40.
Senate action on the bonus also
differed from year ago. Last
summer the Senate kept adopt
ing amendments. This time it
defeated every effort to modify
the compromise, which had the
united Endorsement of the Amer
lean Legion, Veterans of Foreign
Wars and Disabled American Vet
Grams. 1t even rejected the Pat
man bill, as a substitute, by a
vote of % to Gas compared to
it's adoption last year.