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Arguments For The Veterans' Welfare Bond

Act of 1929

The purpose of this measure is to provide funds to continue the greatest remedial and beneficial legislative program ever attempted by any state for its war veterans; viz., that of granting ex-service men an opportunity to own their homes without cost to the State. The State merely extends its credit by authorizing the issuance of additional bonds to the extent of twenty million dollars, and the proIceeds are invested in homes costing not to exceed $5,000, and farms $7,500. These homes and farms are sold under contract to approved veterans at cost plus 5 per cent interest, plus an administrative charge covering the entire cost of administration.

This plan, which has been in operation for eight years without cost to the taxpayers, is entirely self-supporting, and is pronounced safe, sound, and solvent by auditors and financial experts. Other states, recognizing this forward step of California and the success attained without burdening the already overburdened taxpayer, are at this late date contemplating similar legislation.

This measure is not an appropriation, but involves only the use of the State's credit, as every dollar is repaid with interest by the

veteran.

Over ten thousand farm and home applications remain on file, depending on the success of this measure for approval.

This bond act was passed unanimously by both houses of the State Legislature. The Bond Act of 1925 was adopted by a vote of approximately 3 to 1. This legislation, being no longer an experiment but a proven success,

deserves even a greater majority in its favor than previously received. Make no mistake, and vote YES.

ROY J. NIELSEN, Assemblyman, Fourteenth District.

The soldier, entering the service of our country in wartime, pledges his life and limb as security for the safety of the nation. That safety means preservation of property values, and a continuation of those opportunities for making a living and the enjoyment of life which the United States richly affords.

This pledge of the soldier of his life is the credit which the nation draws upon in wartime. The risk is great. The principal may remain untouched. Often it is decreased or wiped out by wounds, disease or death.

This measure recognizes this pledge of the soldier, and in return pledges the resources of our state as a security to enable him to make a home and obtain the proper surroundings for rearing a family. Already thirty millions of dollars of credit has been so pledged. And due to the safe and sound features of the original legislation and to the fine manner in which the legislation has been administered by the Veterans' Welfare Board, the risk has been nothing. Is it not fitting that we should add to the credit already extended until every veteran who can qualify under the conditions: specified has been provided with a home or farm?

This is a sane, sound way to pay our debts. It encourages home ownership which makes for patriotism and stability. It is a splendid example to all citizens in efficient home financing. It has cost and promises to cost the state nothing and pays large dividends.

Vote YES.

GEORGE R. BLISS, Assemblyman, Fifty-ninth District.