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

the Eighteenth Amendment has marked
the addition of large sums to this stored
UP capital of the people of the country. In
an ANALYSIS of the report of the United
States Comptroller of the Currency, w.
Espy Albig, Deputy Manager of the Amer
lean Bankers Associations Savings Bank
Division, says:
1.-THE year ended June 80, 1923, registered
over the previous year the largest gain in
savings deposits in banks and trust COM
panies of continental United States ever
recorded in the history of this country. On
June 30, 1928 the volume of savings stood
at $28412, 961 900 a gain of $2,327059,000
over the previous year. Since 1912,
when adequate records first became avail
able the gain per inhabitant is 1893 per
cent. The number of depositors
which for 1917 was reported at 48354,7 84,
reaches high mark this year with 3d.
133,348
The American Banker recognizes the
part played by the Eighteenth Amend
ment in developing our gains in savings
deposits and finds that although it would
be impossible to determine exactly 1.-THE
influence of prohibition in building the
savings bank totals of the country; that it
has had some bearing will be admitted
even by those who do not particularly ia
vor the prohibition enforcement"
LIFE INSURANCE
The life insurance data of the country is
another index of the economic gains made
under prohibition Since the adoption of
the Eighteenth Amendment cur annual
purchase of new life insurance has been
multiplied three and one-half times. Over
65,000,000 people now carry life insurance
amounting to $500 900 100000 It was re-
Gently stated by the Association of Life
Insurance Presidents that we had at
tanned during the first half of 1929 the
one hundred billion dollar goal. 1t took
80 years from 1913 1922 to accumulate the
first fifty billion dollars of life insurance
in force while the second fifty billion was
attained in less than seven years.
The Insurance Field, in September, 1929,
commented at great length upon the eco
nomic gains from prohibition. In the
course of its article it said:
What we particularly want to see dis
cussed fairly is the relation of prohibition
to the economic system of insurance as
Importantly incidental to and with the
general welfare. How much of the evident
savings from the annual alcoholic drink
bill has gone into life insurance building
and loan associations, savings banks and
the many comforts of living? -.
How is the life insurance aspect affect
ed by the diversions OF the drink bill? IN
dustrial issues have more than doubled
since 1920 More of the industrial classes
have stepped up to the higher figures of
ordinary These jumped from $4,000, 000,-
900 in 1929 to more than $100,00O,OOOOO0
this year. Where did it all come from?
Say the agency forces did it by hard work.
Very we'll; but where did the money come
from to pay for it? That is the economic
vein that can be opened by every company
and by all experienced agencies for their
own guidance Has prohibition advanced
the general welfare, or has it merely dried
out cocktail glasses? It is business and
not moral personal liberty anatter with
insurance"
HOME BUILDING
Prohibition gave new emphasis to the
home building impulse. Many who dur
ing the saloon epoch were forced to live
in slumS or in unspeakable tenements be-
cause the major portion of their income
went across the bar are to-day knowing
new comfort and a new ambition. The
best authorities in realty and building cir
cles recognize the part played by prohi-
bition in developing the new market for
homes The Bureau of Labor Statistics, in
its recent review of building operations in
the first half of 1929 calls attention to the
fact that in eighty-f1ve cities in the
United States having a population of I00,-
600 or over, building permits issued in the