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Some Legal Aspects Of Guaranteed War Loans, William B. Cudlip

Michigan Law Review

Of the many innovations in the field of commercial banking since 1933, one of the most important introduced as a result of the war emergency is the "guaranteed" war loan plan which was authorized by the President under Executive Order 9112, dated March 26, 1942. Under the plan any loan made by any financing institution, including specified government agencies, to a borrower engaged in the production of war materials may be guaranteed by the War or Navy Departments or the Maritime Commission of the federal government, in those cases where the borrower is unable to obtain adequate financing without such …