Show CASH FEATURE OF BONUS ELIM FORMER SOLDIERS WILL BE ABLE TO BORROW FIFTY PER CENT ON certificate agreement is reached so ao as to enable soldier to receive cash on where set sum li ill not exceeded washington unanimous agreement to the cash feature ot of tile the soldiers bonus except in the lie case ot of men adjusted service pay ii would not exceed 50 was reported thursday by the special subcommittee of republican members of the house ways anti and means committee to which tile the whole i bon bonus US question was referred in lieu of cash tor for the other men it was agreed to ta add a new provision to the bonus bill under which tile the men accepting S service ervice certificates could borrow immediately on those certificates from banks a sum equal to CO 50 per cent of the total adjusted service pay computed at tile the rate of 1 a day for dome domestic MIC service and a day for foreign service this official statement of the agreement of the subcommittee wis was issued by chairman fordney the subcommittee consisting of chairman 11 ordney Iless rs green longworth hawley awley II treadway Tread woy and copley have tentatively agreed upon and prepared a aroh pro islon Malon to be sub ab milled which in substance Is as follows the elimination ot of the cash feature of the bonus bill the veterans are entitled to avore thru than 50 adjusted service pay but adding a new loan pro to the ad adjusted jasted service cartiff tiff cate title which will enable holders of such certificates to borrow from any national nat lonal lank bank or bank or trust company incorporated under tile the laws of any state 50 per cent of the sum ot of the adjust adjusted eil service pay prior to september 30 1925 this date was fixed because after that time the bill as all originally dratted drafted by tile the committee provides fora for a larger percentage of loan by the government and has not been changed by the subcommittee chairman fordney said fills plan was expected to meet with general approval since it enabled the soldiers ato may be in need to obtain ch cash immediately after the issuance of the certificates would relieve the treasury of any large cash payment during the enormous refunding operations which must be carried out la in the next two years and would place no additional tax burden upon the public governor harddng of the moderal reserve board was before the subcommittee tuesday discussing the interest and other questions it was wag suggested that the interest rate should not exceed it a figure greater than 2 per cent above the alie rediscount rate ot of the regional reserve banks under another tentative provision being considered the alie tittle to the certificates could not be disposed of by the hie service men the idea being sir fordney explained to prevent lie flie certificates broyn fa illing into the hands of loan sharks sharl cs it was explained that the 50 cash payment was returned in the bill because tile the men entitled to only this amount undoubtedly would prefer the cash to a 20 year certificate |