Word: bonus
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Dates: during 1930-1939
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...declared that rates of 8% to 12% demanded on mortgages in the past were "exorbitant." ¶ Brigadier General Frank T. Hines, Administrator of Veterans' Affairs, dropped in at the White House. As he emerged he intimated that the American Legion, which fortnight ago demanded immediate cash prepayment of the Bonus and remission of interest on all loans made against bonus certificates, might be satisfied with mere remission of interest which by 1945 will have eaten well into the promised principal. The trial balloon did not get far. Frank Belgrano, new commander of the Legion, promptly retorted that the Legion meant...
When this prospect began to dawn on the Legion it took only the spectacle of a Government dispensing billions in the name of Recovery to line up a large mass of its membership in behalf of total remission of interest on all Bonus loans- a proposition Government actuaries estimate would cost the Treasury an additional billion dollars...
...Legionaries in Miami had their eyes glued not on payment of the rest of their Bonus certificates, without interest, in 1945, but on a full cash settlement in 1934. The Bonus groundswell which set in officially two years ago at the Portland, Ore. convention seemed to reach full tide last week on the silvery shores of Miami. A potent convert to prepayment without "usury" was Hanford MacNider of Iowa, onetime (1921) National Commander, onetime (1925-28) Assistant Secretary of War, onetime (1930-32) Minister to Canada. In Hoover times. Republican MacNider had stoutly battled the Bonuseers but now he owed...
...Washington, President Roosevelt, like Coolidge and Hoover before him, was all cocked and primed to veto any Bonus legislation a politically-minded Congress might dare to send...
...reach this topnotch position in the organization. He entered Legion activities when he became a founder of Galileo Post in his hometown. A vice president of Bank of America National Trust & Savings Association, president of Pacific National Fire Insurance Co., Commander Belgrano kept discreet silence when the Bonus ruckus was shrilling about him, pledged a non-political administration...