Evidences of the success of prohibition in the United States is rapidly multiplying. In 1923 mutual savings banks opened about 500,000 new accounts and reported a net gain of more than $500,000,000 in deposits. During the same period building and loan associations added nearly $600,000,000 to their assets and showed a growth of 838,736 in their membership. At the close of the year there were 10,800,000 accounts in mutual savings banks and 7,202,880 members of building and loan associations. The valuations of real estate have increased more than 20 per cent. In New York city the assessed valuation of 850 properties formerly occupied by saloons has increased 62 per cent. This real estate valuation increase means several billion of dollars in added wealth to the nation.
Such gains in a year or two forcibly impress a highly significant lesson concerning the purposes to which the workingman’s dollar is now being devoted. It cannot be attributed to higher wages because the cost of living, as shown by the purchasing power of the dollar, does not warrant such a saving.
From page 4, the editorial page, of The New Bernian, Sunday, Oct. 26, 1924. J.B. Dawson, editor and manager; N.G. Gooding, managing editor.
newspapers.digitalnc.org/lccn/sn96086034/1924-10-26/ed-1/seq-4/#words=October+26%2C+1924
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