The law enacted last March authorizing loans of 50 per cent upon
adjusted-service certificates has, together with the loans made under
previous laws, resulted in payments of about $1,260,000,000. Appropriations
have been exhausted. The Administrator of Veterans' Affairs advises that a
further appropriation of $200,000,000 is required at once to meet the
obligations made necessary by existing legislation.
There will be demands for further veterans' legislation; there are
inequalities in our system of veterans' relief; it is our national duty to
meet our obligations to those who have served the Nation. But our present
expenditure upon these services now exceeds $1,000,000,000 per annum. I am
opposed to any extension of these expenditures until the country has
recovered from the present situation.