Word: draft
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Dates: during 1940-1940
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...Draft. Although 60.2% of the executives felt that conscription would work some hardship on their business (6% said it would have a seriously adverse effect), they were solidly (84.1%) in favor...
...debts. It re-enacts the Soldiers' & Sailors' Civil Relief Act of 1918, which permits the courts to postpone draftees' obligations (depending on their ability to pay). In Congress now are bills giving conscripts additional relief from taxes, rent, insurance. But by last week, having studied the draft, most businessmen decided it would not make them as much trouble as they had feared...
Loans. Better-than-average insurance prospects, many draftees are already good personal-loan customers. But only 5 or 10% of all small unsecured loans outstanding are against single men of 21 to 36, who presumably will exceed married men among draftees. (Of the draft eligibles, only about one in ten will march to camp.) If a draftee cannot make payments while in uniform, personal-finance outfits will ice the loan, catch their man when he goes back to work. With only a fraction of their business affected, moneylenders expect the boom in business will offset possible draft losses...
Rent. Since the U. S. can allot a conscript's pay for rent of his dependents, most real-estaters see only the rosy side of the draft picture-many pre-conscription marriages. But if a rent payer is drafted, a War Department bill now in Congress says his dependents cannot be evicted (if his rent is $80 monthly, or less) for at least three months...
Installment Sales. General Electric is No. 1 seller of household appliances. Last week it reported not more than i or 2% of installment contracts would be hit by the draft, much less an upheaval than was caused by the 1937-38 depression. As before, delinquents (draftees or not) probably will arrange smaller payments, extended notes...