The American issue. [volume] (Westerville, Ohio) 1912-19??, 1929-12-01

has passed beyond the testing point and
has demonstrated its value. This is at
tested equally in the fields of economies,
Of health and of sociology.
That easy forgetfulness which is so
characteristic of humanity. makes 1t diff
ficult for us to compare the occasional
violation of the law to-day with the
chronic violations Of the pre-prohibition
era. We know that the prohibition law is
violated. We forget too readily that the
license or regulatory laws were violated so
continuously that the popular assumption
was that such violations were normal. If
1t be true of the beverage alcohol problem
that needs must that offenses come" it is
none the less great achievement to have
made those offenseS so closely approach
the minimum.
ECONOMICS OF PROHIBITION
In estimating the value of prohibition
as an economic asset, one must ignore the
fact that this national policy had its
earlier years in a period when economic
disaster would have been the normal ex-
pectation. 1t had become almost aXio
matte that q great war was inevitably fol-
lowed by long period of industrial de-
preston, If not by financial panic. There
was no panic, however THUS was I'M
precedented There was only one factor
entering the business situation that could
account for 1t. All the other factors would
account for q threatened If not actual
panic The new beneficent factor was
prohibition. Sums formerly expended
wastefully were now being conserved in
savings or being expended conStructively.
This is not only the opinion of prohibition
propagandists but is generally realized by
our greater business experts.
Roger w. Babson. generally recognized
throughout the nation as an authority on
the trend of business says:
"Both friends and enemies OF prohibit
ton must agree that the increased pur-
chasing po1oer OF the masses. which has
been so general since the war, is largely
due to prohibition"
While Secretary of Commerce, Herbert
Hoover, made study of our factory pro-
duction. He summed up his results of
this survey in these words: There can be
no doubt of the economic benefits of pro-
hibition Viewing the temperance ques-
ton only from this angle, prohibition has
proved its case. There Is no ques-
ton in my opinion that prohibition is
making America more productive. There
can be no doubt that prohibition is put
ting money in the American family pock-
etbook. The dry law has proved its worth
in dollars and cents"
Henry Ford has emphasized this re-
lation between our present prosperity and
prohibition. In recent article, he as
serts: Without prohibition industry
would of necessity decline to the position
1t occupied at the beginning of the GEN.
fury. Without prohibition a short work
Ing week and day would be no longer pos
sible. Without prohibition accurate
workmanship would be impossible"
SAVINGS ACCOUNTS
Probably there is no better index to
prosperity than the savings accounts of
the nation. While these are only a part
of the total savings which include life in
surance permanent investments home
buying, ETC., they probably mirror more
accurately than any other single factor
the better condition of the wage earners
of the country. Before prohibition, the
savings deposits of the nation were not
any very great factor in our financial life.
Many banks then did not care to handle
such deposits. since they were small and
required costly attention.
In 1918, according to the figures In the
report of the Comptroller of the Currency,
the amounts of these savings were: Pri-
vate Banks Savings, $23, 459. 1923; Postal
Savings Banks, $148, All 400; Loan & Trust
Companies, $780, $50, 1859; State Banks
Savings, SLOT, 636 ,806; Mutual Savings
Banks, 81 ,442 ,096 1893; Stock Savings Banks,
$1,001, 573, Ala; National Banks Saving De-
Y4orfpoent Ct 2QQ 25Q mn. total 60 272 04R =