The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1936-01-28
BONUS QUERIES
ANSWERED IN
Q. AND A. FORM
Summary, Explanation of
Baby Bond Bill
Given.

the bill provide? A-Immediate pay
ment to veterans of the full matur-
ity value of Adjusted Service Ger
tificates in baby bonds" and cash.
Q-How did the bill become law?
A-By enactment by the Senate and
House OF Representative over the
veto of President Roosevelt.
Q-How will the veterans be paid?
Ain government bonds of $50 de-
nomination, with amounts less than
$50 being paid ir cash. A veteran
whose certificate called for payment
of $685. would therefore, receive
eleven $50-bonds and $35 in cash.
GLOW and to whom should vet
Grams apply for payment? A-To
the nearest region Office of the
Veterans Administration. Applica-
tions will be made on blanks spe-
cially provided.
Get Bonds by June Is
Q-Will payment be made to the
veteran Immediately upon applica-
ton. A-No. His application will be
NllCNhCd dBdlllob lCNOlho Ill w doll-
ington. which will certify to the
Treasury the names of veterans en-
titled to receive bonus payments
and the amount due.
Q-After the application is APP
proved, when can the veteran eX-
pect to receive his bonds? A-Some-
time prior to June Is, 1886.
Q-Will he be able to cash the
bonds Immediately? A--No The
bonds will be dated June Is and
cannot be cashed before that date
Q-Is it necessary to convert the
bonds into cash? A-No The vet
Gran may hold the bonds as an in
vestment until 1945 at per cent
interest. The Treasury hopes that
large majority of veterans will not
cash the bonds Immediately, there
by relieving the immediate cash
drain on the Treasury.
Unpaid Interest Deducted
Q-Upon what basis will payment
be made? A-Veterans will receive
the full 1945 matured value of Ad-
justed Service Certificates, less
loans.
Q-What happens TO interest on
certificate loans? A--Unpaid in
terest accrued prior to Oct. l. 1881,
will be deducted from the payment
Unpaid interest coming due since
Oct. l, 1881, will be forgiven. Vet
Grams who have paid the interest on
their loans since Oct l, 1881, will
not, however, receive rebates. Very
few veterans stand to lose by this
ruling, however, as only very small
percentage have paid any interest
since 1881.
Off veteran has borrowed
money from bank, giving his adj
lusted Service Certificate as COL
lateral, and owes the bank interest
accrued since Oct. l, 1881, what hap
pens? A-The veterans administra-
ton will pay the interest to the
bank, without deducting the amount
from the bonus payment.
Q-Must the veteran apply for
his bonus payment Immediately?
A-No. He may apply at any time
before 1915.
Q-What happens if the veteran
dies? Aft the veterans dies after
the application is made and before
1t is filed, it may be filed by any
person. If he dies after application
is made, it shall be valid if the vet
Grams administration finds that it
bears the bonafide signature of the
applicant, discloses an intention TO
claim benefits of the act, and is
f1led before payment is made to the
beneficiary.
Bonds Not Negotiable
Q-Will the bonds be negotiable?
A-No. They will be payable only
to the veteran receiving them. They
can not be transferred or assigned.
Q-Where can they be redeemed
in cash? AIT any postoffice or
U. S. Treasury sub-station
Q-Will the bonds be subject to
attachment? A-No. They can not
be attached, levied upon or seized
under any legal or equitable process.
Q-What provision is made in the
bill to raise money to cover pay
ments to veterans? A-None.
Q-Upon what main contention
did President Roosevelt base mis-
veto? A-That the governments
financial situation was not such as
to permit the spending of such a
sum; and that Congress failed TO
enact new taxes to provide funds
to paw the veterans
Q-What will be the total cost to
the government? Approximately
1928, 100000.
3,51S,000 To Share
Q-How many veterans will be
eligible to receive payments? APP
proximately 3518,000.
Q-1s any minimum length of
service prescribe for bonus eligi-
bility? Ayes. The original Ad-
justed Service Compensation Law
provided that veterans were not to
be paid for the first so days of
service. Those serving less than so
days, therefore. were not entitled to
adjusted service compensation and
will not be entitled to payment un-
der the new law.
Q-What is the average value of
outstanding Adjusted Service Ger
tiflcateS? A--About $685..
Q-What is the average amount
each veteran will receive. APP
proximately $500, inasmuch as most
OF the veterans have previously bor-
rowed half the amount of their
certificates.
Glow was compensation conn.,
puted in the original act? A-The
veteran was credited with 81 for
each day of service in this country
and SIPS for each day of overseas
service with maximum of $500
for the veteran who stayed in this
country and S625 for the veteran
who served overse To this
amount was added an arbitrary IS
per cent; the total thereby becoming
tho "ho cir craIit rr1,o 81,