re miniscule ...tim how can you say such silly things...do you never do reaserch?
"Some 3,662,374 military service certificates were issued, with a face value of $3.638 billion dollars. Congress established a trust fund to receive 20 annual payments of $112 million that, with interest, would finance the $3.638 billion dollars owed to the veterans in 1945. Meanwhile, veterans could borrow up to 22.50 per cent of the certificate's face value from the fund, but, in 1931, because of the Great Economic Depression, Congress increased the loan value to 50 per cent of the certificate's face value, yet, by April of 1932, loans amounting to $1.248 billion dollars had been paid, leaving a $2.36-billion-dollar deficit. Although there was Congressional support for the immediate redemption (payment) of the military service certificates, President Hoover and Republican congressmen opposed that, because it would negatively affect the Federal Government's budget and Depression-relief programmes. Meanwhile, veterans organisations pressed the Federal Government to allow the early redemption of their military service certificates."wiki |
