Word: planned
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Dates: during 1950-1959
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...argue its critics, the draft has caused the college man to lose all sense of public duty, the Defense Department is losing a great reservoir of brains because it has too few places to put them, and the undergraduate who does not plan to go to graduate school or become a father becomes, to all intents and purposes, a draft dodger. In the face of an increase in manpower due to population growth, the Defense Department is deferring large groups of men for poor reasons and offering a militarily unrealistic six-month program in the bargain...
...proposes a third solution, combining the philosophy of universal service with the practical realization that intelligent people can serve in non-military ways. Estey would exempt college students who can find teaching jobs and are willing to serve in them for a period of three years or so. This plan proposes to solve both the educational shortage and manpower surplus problems of the nation, as well as making the individual aware of and at least somewhat enthusiastic about his public duty. It makes the best of a bad situation...
Last week Manhattan's Bankers Trust Co., seventh biggest in the U.S., launched a plan to give customers frequent loans without bothering to make loan applications. The system, adopted so far by some 20 major banks: the customer gets a line of credit, usually from $100 to $6,000, that goes into his checking account. He then writes checks, pays back in twelve or more monthly installments, is charged 1% or more monthly interest on the outstanding balance...
This idea, called revolving credit or check credit, was pioneered by Boston's First National Bank in 1955. Last week its Vice President Harold B. Hassinger told the Chicago meeting that profits from the plan not only run 50% higher than on personal loans, but that it has helped boost personal loan business 40% by popularizing credit. Said Hassinger: "Don't be surprised if this plan does ultimately displace most everything but the open charge account with the grocer and other retail outlets...
...surgical fees. Already tried out in four states (Oklahoma, Louisiana, Texas and Georgia), the coverage is similar to that offered on a twelve-state basis by Continental Casualty Co. (TIME, Feb. 16). But Mutual is offering it in all states and U.S. territories and possessions, the first such nationwide plan...