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Raising the Standards. The sharpest increase has been in short-term consumer credit. As disposable income quadrupled since 1939, consumers raised their debt accordingly (from $7.2 billion to $37.1 billion), now owe an average 13% of take-home pay. With the addition of housing debt, the consumers' total unpaid balance in mid-1956 represented $800 for every man. woman and child in the U.S., v. $180 in 1939. From go-now, pay-later trips abroad to fill-your-teeth-on-time plans, installment buying now covers almost every contingency from womb to tomb...

Author: /time Magazine | Title: GOVERNMENT: The Banker's Banker | 9/10/1956 | See Source »

Glass in the Pocket. Dr. Fuller's well-padded pocketbook has allowed him to move fast when he sees a bargain. What makes his position enviable and almost unique among U.S. museum men is that, as unpaid director and one of the principal backers of the museum, he can run his show as he pleases. As an aid to on-the-spot decisions, he always carries in his pocket a 14-power geologist's magnifying glass, noting that "in some ways both art and geology are a matter of trained observation." One peek into the top of some...

Author: /time Magazine | Title: Art: Rare Bird | 8/13/1956 | See Source »

After the war Moricand scouted out Miller's place of rest in California. Miller was living precariously in a cabin above the cliffs at Big Sur with a young wife (his third), a small daughter, a plenitude of unpaid bills and an uncertain future...

Author: /time Magazine | Title: Books: Sour Orange Juice | 8/13/1956 | See Source »

...weeks ago, the City of Boston threatened to seize the Post's real estate if Fox did not pay up back taxes by mid-August. A fortnight ago, the U.S. Internal Revenue Service tied up the paper's bank account with a claim for $221,116 in unpaid withholding taxes from employees. Other creditors slapped other liens on the paper and its publisher, until he had to ask employees to wait several days extra for their weekly pay. Meantime, a Boston attorney named John S. Bottomly said that he was negotiating with Fox to buy the paper, insisted...

Author: /time Magazine | Title: The Press: Fox & Hounds | 7/9/1956 | See Source »

...grab on the pretext that the titles were invalid. As business foundered, each dismissed employee had to be paid off in U.S. dollars; once Manager Miner was jailed for ten days when U.S. currency restrictions held up the necessary cash. To top it off, the Communists calculated interest on unpaid claims at 1½%, compounded daily...

Author: /time Magazine | Title: BUSINESS ABROAD: A Ride on a Tiger | 6/11/1956 | See Source »

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