Adjusted Service Certificate Law

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The Adjusted Service Certificate Law is a United States federal law passed in 1924 that granted veterans of World War I "bonus" certificates the following year that would be redeemable after a maturation period of 20 years for $1 dollar in cash for each day served in the United States and $1.25 dollars for each day served abroad. The final maturity of the certificates was in 1945, however, in 1936, the Adjusted Compensation Payment Act, 1936, (January 27, 1936, ch. 32, 49 Stat. 1099), popularly known as the Bonus Bill was passed, which replaced the Service Certificates with bonds issued by the Treasury Department.

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• Program from Alabama Public Television

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