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Old 08-17-2011, 04:28 PM
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daveh75 daveh75 is offline
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[QUOTE=27145;136081834]
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Originally Posted by daveh75 View Post
Ok so here are my two cents...1932-Washington D.C.-WWI veterans demand payment of the Soldiers Bonus Act (passed 1924).\QUOTE]


Many of the war veterans had been out of work since the beginning of the Great Depression. The World War Adjusted Compensation Act of 1924 had awarded them bonuses in the form of certificates they could not redeem until 1945. Each service certificate, issued to a qualified veteran soldier, bore a face value equal to the soldier's promised payment plus compound interest. The principal demand of the Bonus Army was the immediate cash payment of their certificates.
And they could also borrow up to 25% of the value...which didn't occur. Further, the House had already approved payment of the certificates, the Senate was set to vote on it when the violence began. And please don't forget about Patton's use of tear gas....but the point of all that was to say that the government promised something and didn't come through with it...not the first time.
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