Pueblo chieftain., 1922-01-29

many printed pages have been con-
sumed in asking and answering the
question. what does the banker
think of advertising?" Tho following
answer Is suggested. because 1T appears
that the position and viewpoint OF the
banker on this matter have never
been analyzed with exactness.
Undoubtedly, as tho imports ance of
tho great business of advertising be-
comes moro accurately defined, bank
crs will understand it, in Its broad
outlines, nS they are obliged by the
nature of their work to understand
the fundamentals of all vital branches
of business. The magnitude OF the
business of advertising and the i'm
portance it plays in producing profits
entitle 1t to serious consideration.
But the bankers function in determ-
lining either the Whether or the How
Much of a customers advertising sp-
preparation rarely Is, aud rarely will
be. dominating one. As will appear
In what follows. it will be increasingly
necessary for bankers to understand,
in general terms. the size and import
aucc OF the advertising business. In
many instances. too, bankers will need
to know something OF advertising in
detail as applied to the needs OF spe-
c!fic lines of business. But the position
taken In this article is that. broadly
speaking. It is not. and never will be.
vertisnE policy OF the compa MES to
which his bank is lending money. II
this is taken as a starting point. the
Importance OF the bankers relation
ship to the business OF advertising may
be further developed without mourning
tho danger either of the over-emphasis
or the under emphasis which char
acterizes much OF tho current discus
sion of tho question
1t may be admitted at once that few
people know much about the business
OF advertising. We all road advertise
nlents; but except for an occasional
want ad." or lost-and-fou notice
the actual creation OF advertising copy
or the thought of purchasing adver-
tising space never enters our consci-
BUSINESS. There is a phrase current In
the land. Tt pays to advertise This
IL about ss deep as advertising philos-
ophy goes with the average man or
woman: and even this phrase is be-
llcvcd rather than applied by the con-
scrvative majority OF our population.
II doctor advcrtises he loses caste.
A lawyer or a minister cannot adyer-
tise except indirectly. thru writing and
speaking on matters OF public concern.
only within comparatively recent times
have thu advertising appropriations of
Industrial enterprises become OF large
permanent business Importance. only
more recent still has the banker con-
sidered advertising OF value for his
own banking institution.
TVf, PROGRESS OF ADVERTISING
The basic reason for this is apparent.
Advertising. like almost every busi-
ness or profession. has had to win its
standing slowly. Doctors and lawyers
and bankers did not establish their
sta ndinx In day. II was "A process of
centuries Advertising, in the early
examples which have been preserved
TO us. was used to dispense unwhole-
some medicines or even more upwhole-
somc securities. This condition has
largely been remedied. Great progress
toward tho winning of public conf
dcnce has been made. BY far the
greater part OF Advertising in the
larger city newspapers and in tho bot
ter national magazines Is honest and
sound In its tendency. and most of It Is
effective. There are at present many
many Important agencies. each OF
which plays a vital part In the crca-
ton and placing OF advertising clients
from a million to fifteen millions OF
dollars annually. While the total
amount expanded each year in the
United States cannot be exactly asccr-
tained Il Is estimated by Advertising
ard Selling. a ma agazine devoted to the
uhiect OF advertising, that during the
calendar year 1919 (which may be fair
Is comparable as regards volume OF
advertising to 1920 si.s5s. 100000 was
spent in various kinds of advertising.
including newspapers, direct by mail
advertising. magazines, posters. street
car cards, c.c. OF this sum IT is csti-
mated that 1856. 100000 was spent In
newspapers and magazines.
Obviously the banker is concerned
with any economic fact of this magni-
tudc. Just how far is he concerned.
To give an approximate answer to this
question 1t is well to observe ,nat ad-
vrrtisinE involves, for its full under
SANDING, a more than ordinary per-
ccption of popular rcactions-of the
production thru the usAc of printed
words OF definitely Intended results on
widely different groups OF people. 4
few bankers. thru temperament or
special opportunity for observation. will
be Interested in this phase OF the busi-
ness of companies which are their Gus
toners or of which they are directors
But TO most bankers the advertising
appropriation will be n matter OF re-
suits measured in dollars and cents.
And in general 1t may be said that this
latter class OF bankers will probably
always be in the majority.
The banker undertakes to under
stand In a .horo way the general prin-
ciples OF n great variety OF businesses;
hut he would need to be supcrman
indeed II he were to undertake TO know
~ much Of operating details. or OF
manufacturing methods. or OF the pub
llr dcmand for thousands OF. articles
and commodities, "a the mon who arc
running these businesses. Decisions
as to tho kind or volume Of advertis-
ing required TO market n given pro-
duct must be based upon most thoro
understanding Of the article which Is
being advertised. and study OF it's
relation. az all reasons and under all
conditions, to that tickle entity known
ns the buying public. This is a job for
specialists The best OF the modern ad-
verttsing agencies have developed
spccialists to meet this need in CO.
operation with the officials OF the vari
ous companies which arc buying the
advertising space.
As to Just how far beyond this point
II ls proper to expect the banker Of
the future to GO. opinions Will differ
Tho occasion may arise when \ banker