I'm just waiting for somebody to come out with the box of mil spec stripper clips designed just for the USMC M40, lol. Seriously, no other modern rifle has gone through so much speculation than the so-so original USMC M40/700. Do any of you even own an SKS

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Joking aside, the US military has used 5-rd stripper clips since the turn of the 20th century. Attached pic are various US 7.62 NATO ammo circa 1958 (M59), to Vietnam era (1968), to a recent bandoleer that utilized M80 ammo. The 30-06 stripper clips were about the same except they have 2 small bumps or 'nubs' on the side and the later ones seem to have only one small 'nub.' I looked it up, and the first use of the modern 5-rd charger clip was on Paul Mauser's rifles from the 1890s. At the turn of the 20th century all military bolt action rifles from the major powers used clip slots to allow a soldier to quickly load (and re-load) 5-rds into their rifle, which matters in combat... (US, UK, Germany, Japan, Russia, etc all had clip guides on their infantry rifles).
(I have not studied the history of the Remington Model 720 or 721, which I presume some had the square cut-out like a lug slot, but I have studied the 1966 and later history of the M700s).
What is the relevance to the clip slot cuts on the Remington 40-X repeater/target rifle from 1966? - and its main competitor of the day, the famous Winchester Model 70 Target rifles that dominated the National Matches in the 1950s?
The answer? The Rapid Fire stage of the National Matches, which required the shooter to place 10 aimed shots in 60 seconds. That started in 1923, thanks to the invention of the 5-rd charger or 5-rd "stripper clip" that allowed a competitor to quickly load and shoot 5 rds, and then load and shoot his second 5 rds, all in 60 seconds. The Rapid Fire Stage hasn't changed much, you still start from a standing position as seen here back in 1923: (Although I recall some local RF stages are 80 seconds).
As an aside, after WWII when the M1 Garand was used in the matches beginning in 1952, a special 2-rd enbloc clip was developed so that the competitive shooters could shot 10 rds for the Rapid Fire stage. You start with the 2-rd enbloc made for these matches, and then load your traditional 8-rd enbloc clip. I have done this many times...(I have several of those odd-ball 2-rd enbloc clips for the CMP M1 "as-issued" matches).
Beginning in 1952 Winchester M70 Target rifles won most of high-power matches at Camp Perry. Here's a 1954 Winchester ad for the Model 70 Target rifle:
These M70 match rifles were made with clip slots to allow the rifle to be competitive in the Rapid Fire Stage. (They made a 'National Match' version and a Target version, but I won't go into the differences here, other than to say they both had clip slots.). Here's a 1950 M70 National Match model (not my rifle). Please note the clip slot on this early M70 and the fact that it was designed for high-power competition.
Below M70 rifle in the front is a mid-1950's hunting M70 rifle with no clip slot and standard barrel. Rifle in the back of pic is a 1953 M70 Target rifle with clip slot, a medium heavy target barrel, and precision match sights. (It's like that rifle in the above 1954 ad).
Other than the clip slot on the top M70, both receivers are otherwise identical. So, WRA didn't machine clip slots on their standard hunting rifles as it was more expensive and time consuming to do all that machining, so only their special target rifles got the slots (and I think the rare heavy barreled 'Bull Rifle' got it too)...and guess what? Remington decided it wanted to compete against the M70s - and did the same beginning in 1966 when they made the first 40-X repeater target rifle. They wanted to compete with Winchester in the 1960s, so Merle Walker developed a target rifle:
Over time, the Remington 40X models evolved into providing long-range, Varmint, and benchrest shooting and military sniping. The original 40-XBBWs came with heavier 26” barrels...
www.snipercountry.com
"...
Merle Walker was a 20th Century legend in the shooting industry and a well-respected cartridge and gun designer. He was also Director of Research and head of Remington's Custom Shop in New York and he created Remington's 40-X series of rifles in the 1960s to compete with all target rifles on the market at the time, as well as the legendary Winchester M70/Target-Match.
Over time, the 40-X models evolved into providing long-range, Varmint, and benchrest shooting and military sniping. The 40-X collection branched into two series for Match/Varmint rifles, and the Benchrest rifles."
Like Winchester's M70, Remington's Match 40-X utilized the clip slots so that rifle could also compete in the Rapid Fire stage of a match - but standard M700's didn't get that feature...except of course for the USMC/gov't orders of M700s - as the original 1966 contract specifically stated clip slots were to be on their sniper rifles, which per Senich was a "concession to the Rifle team influence." Not sure about any M40s being used in formal competition, but I recall reading something about the USMC rifle team once using M40A1s in the early 1980s with presumably iron sights, I think in Europe, but don't have that reference in front of me. I know the Army did the same with a fews M24s back then as well.
I could be wrong, but is my understanding that the only Remington rifles that got the clip slots
after 1966 were the 40-X repeaters, and the military M700 (aka M40s) - as the USMC specifically requested this feature and it became part of the drawing for all gov't procured M40s. I don't know when Remington stopped doing the clip slots on their 308W 40-X repeater rifles. With the advent of detachable magazines on competitive rifles, the clip slots went away....
Lastly, for the record, the idea that clip slots impacted the M40 scopes mounting stability, or adversely accuracy of the rifle - is not supported by any historical accounting that I am aware of. The biggest issue in Vietnam re M40's were swollen wood stocks thanks to the Monsoon climate...oxidized barrel bores due to the same climate, and the fact that the Redfield scopes were just not sturdy enough for heavy combat use in Vietnam, they were just civilian scopes that were anodized green. Here's Chuck Mawhinney's opinion on the M40 in Vietnam:
Mawhinney is a towering figure in the sniper community because of his combat record in Vietnam.
www.americanrifleman.org
Okay, that's enough history for this thread....moving on.