A large school of economic thought scoffed instalment buying in 1928, blamed it for the catastrophe of 1929, foretold its speedy annihilation. But no annihilation has come about; instalment selling has withstood Depression well. Although purchases of all goods, especially those which may be bought "on time," have dropped, and although the price per unit is less, the National Association of Credit Companies reports that the industry has shown surprising stability except for radio sets and mechanical refrigerators, both of which, however, have made steady gains. Four hundred and two automobile finance...
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