Show I A Washing Day Daybook ook By Dy RODNEY DUTCHES WASHINGTON M Ma March h 7 7 7 3 a Q game game has as ever fascinated a cor ally to the extent extent- that the theof p of doing tricks with f figures ha V gulled this the seat of government The game Is I often played with lions of dollars and sometimes wit m hundreds hundres o of or millions u goes gos in i for tor it the It-the the Wit White Ever treasury the department of te congress the thc Red Re Cross Cr and nd oth The adroitness which th the te ro ot servants In i Washington ha have pp a has been demonstrated handling of estimates as a to tb the theof 1 of bonus bonu bills estimating th the te nua b ben ber of t nw r employed explaining how It would need nce guessing at th the ut of ot treasury deficits estimating s th number of American ts communist aM what not not a Of ot course there is a variation or the thc sport pr in 11 which the pl players exactly the right answers ann and an kO del twist figures when in n d. d tc curate curt result has already b be n cb tb eb t. t tamed tine But the real z zest t found in 11 reaching results which ca positively be proved wrong wong despite the absence of any ay good go base ba of e em com i and wl which ch will wu be b a a b bb aid to somebody's propaganda Mellon Menon Is Expert Estimator Secretary of t the e Treasury TeS Me Yel Mellon I has become such an a accomplished player through ten tn years ea of ot pric- pric pta Uee tice that time he every er c tie ut a aan an anything thing these thesda days s 's he finds ev even the Republicans laughing at him B But Mellon Melon is i only one among many ba have c ba been doing tricks trick with wit n non on the possible cost cost of or exl extending loans loas on soldier bonus bonu certificates dl Mr Mellon Melon however hOpe er said tit that tho bill to lend veterans eter M money up to ta 50 per pr cent of the face fa money value u o ol or their certificates would woud establish establish- potential liability of about abut 1700 mone money It I sounded like lo a a lot of or The chance chac was there to t make m the cost appear apper perhaps more than t twice what It was wa likely to b be b and a a opponents opponent of the measure made the most of that that Of course cours ma the te facU fa U are that the only logical l to toe ar that log way wa t te es estimate e. e the probable extent of or new uti veteran loans loa is i to study stud what what ne tile the te veterans vetras have hae done with Wit their tet loan loa privilege in the past pat and there is 15 no possibility of ot accurate estimate 1 Only Ony MillIon Uon Now Now Out Oat J I JI Up to now their the certificates haw I had ha a loan value of about abut and little more than t of that has actually bee been beca bor borrowed be rowed rowe If I veterans borrow up to 60 50 5 per cent in the same proportion that they they have borrowed up to t 2 l 2 1 per cent they could use u somewhere around of the new loin kin J value of which about Is i already outstanding in 00 loans loan Thus Thu unless a considerable number nun num nu- nu her ber br of vet veterans rans begin to t borrow brow on their certificates for the first fis time tie after previously ignoring the te loan Joan lon privilege the amount of new f m money e needed Is unlikely to run r over over hilf hlf hil a billion dollars Estimates of the t new money needed of ot course have run ru from to a 8 billion bUon Congress also has h shown mow Us Its is adept ness In making figures do tricks It I provided for a uniform rate rat of per cent Interest on the bonus bonus' certificate crU cerU fc loans loan In 11 almost alost everything that has been said sId about that th rate ra the vet veterans rans were vere assured that the they te I would be getting the thc aure loans on espe ee especially e I daIly caly liberal t terms rs and that the prevailing pre pre- railing in interest rate rat was wa 6 per pr cent cn Interest Rate Rt Varies Vare Regardless of ot the fact fat that tat tatt th the t rate considerably exceeds those thise th at which the government ordinarily lends and borrows money it also ap appears pears peas that many veterans under ude the new law will be e paying a higher payi hh Instead of a a wI lower rate of interest Such borrowing Yet veterans ran as a lire Inthe in inthe I ire district dis dU dis- dis the New Nev York federal federa reserve triet have been paying only ony 4 per percent percent p cent Interest No veteran et now J to pay 6 per cent The rate rae In i the Cleveland Ceveland pr and Boston districts district bu bt been 5 per pe cent and In i the other oter districts dis di 5 2 1 per cent Interest rates rats pr have lae varied IO In the te past as a the leeral federal reserve rediscount ut rate went up and ad down down And Ad wIt with out out the establishment of ot a a rate for all al veterans they might again rise to toO 6 per c cent nt and above as ar o of them have in the past pat But the te continued assertion that all eter alleter veterans have been ben borrowing borwig at at 6 per pr cent c and will now get the money mODey 2 11 pet p cent cheaper Is Just just one of or thO those those- t things ton tn that tat you hear ber from rom W Washing hr |