Word: bonus
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...Manner of Payment. "That part of the annual appropriation not required to meet the cash bonus or to pay policies maturing on account of death will be invested in Government bonds. The face value of the bonds thus acquired, plus the interest thereon reinvested will equal during the 20-year period the maturity value of the insurance policies, aggregating at the lowest estimate...
...although the President's reasons were foreknown, his restatement of them in the Coolidge vernacular did not lessen their force as an expression of the point of view for which he stands. Beginning his veto message, the second he had written, by rehearsing the provisions of the Bonus Bill?cash for those who would receive less than $50, 20-year endowment insurance policies for those who, by the length of their service, would receive greater amounts?he continued...
Cost of the Bonus. "An appropriation of $146,000,000 for the fiscal year 1925 will be required to provide the prorated annual cost of the insurance and to meet cash payments to those not receiving such insurance. This does not include administrative costs, which will amount to approximately $6,500,000 the first year. For the fiscal year 1926 an appropriation of $155,500,000 will be required and the annual appropriations for the 20-year period will aggregate, according to the lowest estimate, $2,280,758,542. These and the other figures herein are from the Veterans' Bureau...
First there was War. After the War there were veterans. After the veterans there was the American Legion; after the Legion, .the bonus bill; after the bonus bill, Congress, which passed it; after Congress, the President who vetoed it; after the President-Congress again. Mr. Coolidge and the whole country have been assured by politicians -pro-bonus and anti-bonus-that the bill would be passed by this Congress whether or not the President vetoed it. Yet there remained a possibility that the Senate might not do as expected-that some Senators might reverse their votes after the President...
...House had overriden. But the game was not over. The original vote in the House had been 355 to 54. Following the veto 26 Republicans, including majority leader Nicholas Longworth and Martin B. Madden of Illinois had changed sides to vote against the bonus. Two Democrats had done likewise. The Senate. Then the matter was up to the Senate. If the Senate clung to its original division the bonus would be law. If the President's veto had won nine Senators away from the bill, the bonus would be defeated. The country waited with polite attention...