The stock market crash - and after

Bibliographic data

Monograph

Identifikator:: 175265076X

URN:: urn:nbn:de:zbw-retromon-129631

Document type:: Monograph

Author:: Fleming, Walter Lynwood http://d-nb.info/gnd/120660560X

Title:: The Freedmen's Savings Bank

Place of publication:: Chapel Hill

Publisher:: Univ. of North Carolina Press

Year of publication:: 1927

Scope:: x, 170 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

176 The Stock Market Crash—dAnd After question that prohibition is making America more productive.” Dr. Paul H. Nystrom, Professor of Marketing of the School of Business in Columbia University, esti- mates $5,000,000,000 gained through prohibition, simply by diverting production from a narcotic drug to more legitimate goods. Addressing the National Retail Dry Goods Association in New York City, February 8, 1929, Dr. Nystrom said: “Prohibition, with all its arguments pro and con, undoubtedly is diverting not less than $5,000,000,000 a year, which would normally be expended on alco- holic drink were it not for prohibition, to other classes of commodities and to savings. Place what- ever estimate you like on the amount of bootleg liquor sold in this country, and I am sure you will admit, as I have been forced to admit, that a return to the liquor consumption of the pre-Volstead days would mean several billions of dollars less business in home furnishings, automobiles, musical instru- ments, radio, travel, amusements, jewelry, insurance, education, books and magazines.” Testimony by Employers Professor Feldman says: “Taking into account, also, the concerns which the writer visited, a majority of the total number re- plied that prohibition had aided individual produc- tivity, while less than half a dozen concerns claimed prohibition to have decreased productivity. This is somewhat surprising, because many executives had

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