The Green Bill

The above-mentioned Mr. Taylor announced on behalf of the American Legion that Chairman Green of the Ways and Means Committee would introduce into Congress on Dec. 3, the first day of the session, a bonus bill carrying practically the same provisions as that vetoed by President Harding last year. The provisions of this bill are: For all veterans of the Army and Navy and Marine Corps up to the rank of Captain (Army) and Lieutenant (Navy).

To be paid by the day on all service of over 60 days' duration between April 5, 1917, and July 1, 1919, the deduction of 60 days being on account of the $60 bonus already given.

Compensation to be $1 a day for home service and $1.25 a day for service overseas or afloat.

Maximum compensation to any one man, $625 for overseas service, or $500 for home duty.

Veterans would be offered an option on one of four types of payment:

1) Cash payment, if the credit is for $50 or less. (Estimated payments of this type, $16,000,000.)

2) Adjusted service certificates, a type of paid-up insurance policy payable to the veteran at the end of 20 years. To those choosing this type of compensation a 25% addition will be made to the original credit, which will then bear interest at the rate of 4 1/2% annually to the end of the 20 years, and yield a final credit 3,015 times greater than the original credit. The policy would have a loan value of from 50% to 87 1/2%. In case of death the policy would be paid in full. (About 75% of the veterans are expected to take this option. Cost, $3,364,909,481.)

3) Vocational training, those taking this option to receive $1.75 instead of $1.25 or $1.00 a day. (About 2 1/2% of the veterans are expected to choose this option. Cost, $52,325,000.)

4) Aid for improvements on farm or home, the whole to amount to 25% more than the normal credit. (About 22 1/2% of the veterans are expected to take this option. Cost, $412,425,000.)

The total estimated cost would be $3,845,659,481 spread over a period of 44 years.