World War Adjusted Compensation Act

In 1933-1936 President Franklin Roosevelt was friendlier but opposed immediate payment as demanded by Congressman Wright Patman.

A major effort in 1944 was made to avoid a similar issue with World War II veterans, resulting in the famous G.I.

Based on standard actuarial calculations, the value of a veteran's certificate was set as the value of a 20-year insurance policy equal to 125 percent of the value of his service credit.

"[9] The Legion said that the government needed to "restore the faith of men sorely tried by what they feel to be National ingratitude and injustice."

The Legion pointed out that the Wilson administration had made additional payments to government workers in 1917–18 to help offset the effects of inflation, without making any comparable provision for members of the military.[10].

The legislation, popularly called the Insurance Bill, provided the veteran instead with a variety of future payment scenarios rather than cash in the short term.

1099) replaced the 1924 Act's service certificates with bonds issued by the Treasury Department that could be redeemed at any time.