On this date in Minnesota History: June 2

June 2, 1920 - The payment of bonuses to Minnesota service men was halted today when the bonus board ran low on funds and found it could not sell certificates of indebtedness to provide further funds because of the low interest rate provided by the last legislature on the certificates. The tight condition of the money market is blamed. Another session of the legislature to raise interest rates may be proposed. In the meantime sixty thousand service men await bonuses.

Bemidji Daily Pioneer; “Payment of Bonuses to Service Men is Halted. Bonus Board Runs Low on Funds and Is Forced to Stop Farther Payment. Certificates Cannot Be Sold Now.  Low Interest Rate Blocks Further Sale; Special Session Talked of”; June 2, 1920; p. 1.

WWI Soldiers

http://education.mnhs.org/northern-lights/research-resources/chapter-14-world-war-i