US Presidency
1928

These are the savings banks of the average man. These agencies alone have in seven years increased by nearly 100 per cent to the gigantic sum of over 50 billions of dollars, or nearly one-sixth of our whole national wealth. We have increased in home ownership, we have expanded the investments of the average man. In addition t o these evidences of larger savings, our people are steadily increasing their spending for higher standards of living. Today there are almost 9 automobiles for each 10 families, where seven and a half years ago only enough automobiles were running to average less than 4 for each 10 families. The slogan of progress is changing from the full dinner pail to the full garage. Our people have more to eat, better things to wear, and better homes. We have even gained in elbow room, for the increase of residential floor space is over 25 per cent with less than 10 per cent increase in our number of people. Wages have increased, the cost of living has decreased.