PAQ2 THT-T
Soldiers9 Bonus Bill
Passed by Senate
Prompt Action Expected la Conference
Estimated Total Cost of Bonui
9 13,845,639,481. -
Washington, Aug. a vote
of 47 to 22 the four billion dollar sol
diers' bonus bill was passed today by
the Senate. It now goes to conference
where prompt action was expected ,by
both Senate and House leaders.
- Party lines disappeared on, the Toll
call, which followed four hours of de
bate. Announcement of the result was
greeted with' applause from the gal
leries which went unchecked despite
the violation of senate rules'. ,
Three opponents of the bonus were
present, but unable to vote on account
of pairs. Eight other opponents .were
absent, making the total, number
against the measure 33, or one more
than enough to prevent passage over
a presidential veto provided all 96
Senators were present and voting.
, On the actual roll call,, however,
there was one more Senator support,
ing the bonus than the two-thirds ma
jority of those present and voting a
two-thirds majority would be suffi
cient to insure final enactment of the
legislation even should President
Harding disapprove it, as many now
believe" he vilL'::'',;:y".ic::t'"'''"?,'S'r' j
Immediately after the passage of
the measure, the Senate directed that
it be returned to the House with a re.
quest for a conference. Representa
tive Mondell of Wyoming, the Repub
lican leader, said the house. would send
it to conference tomorrow under a
special rule. ; ' v y , i
The senate conferees 1 named -' are
those who now are working on the tar
iff bill and the House is expected to
appoint its managers on the tariff
measure. Since there is no serious
dispute between the two Houses W
the bonus, the conferees are expected
to lay aside the tariff long enough to
agree to a report on the bonus.
Four hours of debate preceded Sen
ate action, with Senators Lodge, of
Massachusetts, the Republican leader';
Pomerene, Democrat, , Ohio; ' Reed,
Democrat, Missouri; Sutherland, Re
publican, West Virginia; Trammel,
Democrat, Florida, and Heflin," Demo
crat, Alabama, arguing in support of
the measure and Senators Sterling,
Republican, South Dakota;' Owen
Democrat, Oklahoma, and Watson,
Democrat, Georgia, opposing it. J-"--;,
Government experts " estimate r, the
total cost of the bonus at ?3,845,69,
481 on the basis of 75 per cent of
the veterans electing the certificate
plan, 22 1-2 per Cent the farm and
home aid, and 2 1-2 per cent vocation,
al training. , .
This total is exclusive of any ap
propriations that would be made un
der the $350,000,000 land reclama
tion provision, but under that pro
vision the government finally "Would
recover those costs. The total of the
certificate plan is placed at $3,364,
909,481; farm and home aid, $412,
425,000; vocational , training, $52,
325,000, and cash payments to veter
ans receiving $50 or less, $16,000,000.
Sale Of Valuable
lerty
On Saturday, the 16th,day of Sep
tember, 1922, at 2 o'clock, p. m., the
undersigned receiver of the Bank of
Fairmont, will on the premises offer
for sale to the highest bidder for
cash the following lands and proper
ty: '
First: Three Lots In
The Business Sec
tion of Fairmont
Said lots lie on the East side of
Main Street and on South side of
Center Street and at the southeast
intersection of said streets, having a
total frontage of 100 feet on Main
Street and 60 feet on Center Street
for exact descriptions reference is
made to Book 6-A at page 549 and
Book 6-P at page 255, Registers of
fice of Robeson County.
Second: Four New
Jackson Automobiles-
These are all new cars, 6 cylinder,
touring type. These cars will go to
the highest bidder. This is an oppor
tunity to buy a good car at your own
price.
Dated this August 81, 1922. .
A. R. BULLOCK,
Receiver of Bank of Fairmont,
Optional Forms
of Soldier Bonus
, Washington, - Aug. 31v--As ' amend
ed by the Senate the Soldiers Bonus
BUI would become effective January
1, 1923, and would provide three. op
tional plans for veterans i of the
World War, other than those whose
adjusted service . pay would not ex
ceed $60. These would be paid in cash.
The options are: . 1 - '' . Z ' ;
Adjusted , service' certificates, pay
able in 20 years or sooner at death
and containing loan provisions. ' A
' Vocational training aid at the rate
of $1.75 a day up to a total of 10 per
cent of the adjusted service credit
Aid in purchasing a farm or home,
the total amount to range from 100
per cent' of .the -.adjusted service
credit if the money were advanced in
1923 to 140 per cent of the adjusted
service 1 cremt n the payment was,
made in 1928 or thereafter.
I'Adjusted service, or adjusted ser
vice credit, would be figured on the
basis of $1 a day for domestic ser
vice and $1.25 a day for foreign ser
vice, less the $60 paid at discharge;
But in no .event could the amount of
the credit of the veteran who per
formed no overseas . service exceed
$500 ' and the amount of the credit
of the veteran who performed any
overseas service exceed $625. ;:
Adjusted service certificates would
have a face value equal to the sum
of the adjusted service credit of the
veteran increased by 25 per cent, plus
interest " thereon for 20 years at the
rate of 4 1-2. per cent .a year, - com
pounded annually. ! ".: - 4 , i -
Until January 1, 1926, any na
tional bank, or any, bank or trust
company incorporated under the laws
of any State, territory, possession, or
he District of Columbia, would be
authorized to loan to any, veteran, up
on his promissory note secured by his
adjusted service certificate ? any
amount not in, excess of 60 percent
of the total adjusted service credit
plus' interest thereon from the date
of the certificate to the date of the
loan, at the rate of 4 1-2 per cent
a year. ... o
Should the veteran fail to nav the
principal and interest of the loan
within six months after its maturity,
the government would pay to the
bank the amount of such Drincinal
and interest and take over the certi
ficates. This would be restored to the
veteran any time prior to its maturity
upon receipt from him of the amount
paid by the government to the bank
plus interest on that amount at the
rate of 4 1-2 per cent a year, com
pounded annually.
- The rate of interest charged the
veteran by the bank could not exceed
more than two per cent a year.
'-. After January 1, 1926, veterans
holding "certificates, could . make di
rect application ' through postmasters
for government loans.
The certificate of a veteran would
be cancelled only in case he failed
to redeem it before its maturity or
if he failed to make any payments
when due and such default continued
to 1iis death.
The land settlement aid
the House bill has been stricken . out
ana the Smith-McNarv reclamation
bill substituted. - Under that measure
reclaimed. They would be required
however, to pay for such homesteads
without further government aid on the
same footing as other homesteaders.
Settlement would be open to all veter
ans of the World War, the Spanish
American War and the Phillipin in
surrection and irrespective of wheth
er they had received any compensa
tion from the government under the
Bonus Bill or other legislation.
; The veteran's choice among the
options proposed would be made by
application filed with the Secretary
of . War, if his last services were with
the military forces or with the Sec
retary i of the Navy if his last ser
vices were with the naval '. forces.
Such application might -be made at
any time after . the passage of . the
bill and would have to be made per
sonally by the Veteran, except in case
of physical or mental incapacity.
GERMANY EXCUSED FURTHER
: CASH PAYMENTS THIS YEAR
Subscribe for The Robesonion Only
Two Dollars a Year and Worth It
Decision on Moratorium Deferred Un
til , Radical Reforms In Germany's
, Finances Are Carried Out.,
Paris," Aug. 31 (Associated Press.)
The reparations commission has
relieved Germany of the necessity of
making any further cash payments
in reparations for the remainder of
1922, but defers its decision on the
question of a moratorium until radi
cal reforms in Germany's finances
are -carried out. These - include ' the
balancing of her budget, reduction of
Germany's foreign obligations, ' cur
rency reform and the issue of foreign
and internal loans. K
- In rendering its decision, the re
parations commission . takes into ac
count the fact that "the German
state has lost its credit and the mark
has, depreciated continuously. c
Announcement of the commission's
action was made by Sir. John Brad
bury this evening after si v session,
lasting an hour and twenty minutes.
The decision was immediately com
municated to the German delegates
and the various governments by
telephone.'.- It is understood that
Premier Lloyd George personally; ap
proved the settlement by telephone-
. The decision came as a surprise to
some circles, where it was J expected
that M. DuBois, representing France,
would vote i gainst any solution other
than one complying with the original
demands of Premier Foincare.
As accepted the settlement xsonsti
tutes a modified form of the Belgian
Compromise proposal, and Belgium
is given the honor of having brought
about the last minute agreement,
when a break in the commission seem
ed inevitable and the members of the
commission that the very existence
of the commission , was at stake.. .
Premier Poincare gave his approv
al on condition that Germany fur
nish a gold deposit sufficient to guar,
antee the deferred payments involved.
The' threatened breach in the ' France-
British relations has thus been avert.
ed by the French premier, who was
only prevailed upon to withdraw his
MONEY TO LEND
objection to the compromise after it
became certain that Independent ac
tion by France would be interpreted
by Great Britain as a virtual tearing
up of the treaty of Versailles.
The question now passes out of
the hands of the reparations commis
sion and becomes-a matter of nego
tiation between Germany and Bel
gium, the latter agreeing to accept
treasury bills from the German gov
ernment, payable in ; six ..months, in
lieu of cash payments to which Bel
gium is entitled under priority
agreement .
The soldiers sent to Spencer to
maintain order among striking rail' ;
way workers were there 13 days and
the cost of maintaining Camp Mor
rison with its 600 soldiers is said
to have been around $26,000, .
Old Newspapers for Sale.
We are prepared to make long time
loans in any amount on improved
Roheson Countv farm lands at a low
veterans would be given preference in j cost to borrower.
employment on reclamation projects Mclntyre, Lawrence Proctor,
and in obtaining homesteads on land Attorneys.
We are
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