Monday, Mar. 24, 1924
Alacrity
When Congress convened last December tax reduction was given the right of way over a soldier bonus. Congress wanted the bonus more, but Mr. Mellon's proposal had struck a responsive chord with the people. Congress bowed, but waited for its innings. They came.
A fortnight ago the Ways and Means Committee voted to present a bonus bill. About a week was sufficient to draft it. It provided:
P: No compensation for the first 60 days of service.
P: Compensation at the rate of $1 a f day for home service, the whole not to exceed $500.
P: Compensation at the rate of $1.25 a day for foreign service, the whole not to exceed $625.
P: Cash payment to be made to those with credits of less than $50, and to the wives, children and parents of those who die, since the War, but prior to receiving this bonus.
P: Payment in the form of a paid-up 20-year endowment insurance policy, which can be borrowed on after two years by veterans with credits of more than $50. In reckoning the amount of this insurance, an addition of 25% is first made to the amount of the credit, then interest is added, bringing up the total 'of the insurance certificates to a maximum of $1,440 each for home service, or $1,900 each for foreign service.
P: The entire cost of the measure, estimated at $2,119,000,000, to be cared for by a sinking fund to which the Govern-ment is to contribute sums grading from $110,000,000 for the first year to $91,000,000 for the 19th year.
This measure the Ways and Means Committee promptly approved with only three dissenting votes (from eastern Republicans).
Chairman Green then asked on the floor of the House for unanimous consent that the bill be considered, under a suspension of the rules, on March 18. Under such conditions only 40 minutes are allowed for debate, no amendments may be offered, and a two-thirds vote is necessary for passage. The two-thirds vote being certain, the application for a suspension of the rules was in effect a move to shut off consideration. A few Representatives grumbled. But when the request was put to the House there was not a single objection.
The tax reduction bill was put ahead, but at the present rate of progress the bonus bill will soon overtake it.