Pinedale Roundup

HOUSE PASSES SOLDIER BONUS

ENDOWMENT INSURANCE TO ALL ENTITLED TO COMPENSATION OVER FIFTY DOLLARS

Rates As In Previous Measure Hold Good; $1 a Day for Home Service; $1.25 For Overseas Men

Washington, — The house Tuesday passed the soldier bonus bill 355 to 54.

The result, a margin of eighty-two votes over the necessary two-thirds, indicated that there are votes in the house to override a presidential veto.

The vote came after forty minutes' debate, rules requiring a two-thirds majority and barring amendments.

As sent to the senate, the bill provides for 'paid up, twenty-year endowment, life insurance policies and cash payments to those veterans not entitled to more than $50 in adjusted compensation.

The adjusted service credit is figured on the same basis as in the old bill, which twice passed the house ($1 a day for home service and $1.25 a day for overseas duty), the first sixty days' of duty not counting.

In computing the value of the insurance policy, one-fourth of the amount of adjusted service compensation due a veteran is added, and the policy is then valued at amounts of insurance which such a sum would purchase at his age in accordance with accepted actuarial principles based upon American experiences tables of mortality with interest at 4 per cent per year, compounded annually.

The maximum policy would be worth about $1900 if the maximum of overseas credit were due and about $1400 if the maximum credit for home service were due.

All enlisted men and women and officers up to and including the rank of captain in the army or marine corps and lieutenant in the navy, first lieutenant or first lieutenant of engineers in the coast guard and passed associate surgeon in the public health service are made eligible for the policies.

Overseas service includes service on shore in Europe or Asia, exclusive of China, Japan and the Philippine Islands, and service afloat, not on receiving ships including in either case the period from the date of embarkation for such service to the date of disembarkation on return from such service both dates inclusive.

Applications for the benefits of the bill must be filed with the secretary of war or the secretary of the navy, according to the service, on or before January 1, 1928.

Those entitled to cash payments, $50 or less may be paid any time after nine months from the date of enactment of the bill into law.

The measure has a new provision allowing cash payments to dependents of veterans who have died since the war, to the amount of adjusted service compensation due. If this amount to more than $50 the payments will be made in ten annual installments.