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Every time an old building is torn down in this country, and a new building goes up, the ground floor becomes a bank.
The reason for this is that banks are the only ones who can afford the rent for the ground floor of the new buildings going up. Besides, when a bank loans someone money to build a new building, it usually takes an option for the street-floor facilities.
Most people don’t think there is anything wrong with this and they accept it as part of the American free-enterprise system. But there is a small group of people in this country who are fighting for Bank Birth Control.
This is how Huddlestone Hubbard, the BBC’s chairman, explained it.
"Whenever you see an old building torn down," Hubbard said, "you usually see a candy store, a dry cleaner, a delicatessen, and possibly a florist torn down with it. These shops are all replaced in the new buildings with a beautiful glass, aluminum, wall-to-wall-carpeted money
A. practically every new commercial building erected today is owned by a bank
B. banks are attempting to drive small merchants out of service
C. new banks are not assets to a neighborhood in spite of their attractive appearance
D. by occupying ground floor space in new buildings, banks are replacing neighborhood shopping conveniences