Useful synthesis of path dependence after repeal. Exact inventory shares and company histories require corroboration.
The evidence explains why repeal did not restore the old industry and why a small number of inventory holders and financiers entered the new era with structural advantages.
Cowdery reports that aged American whiskey was highly concentrated when Prohibition ended, while many pre-1917 plants had been dismantled. Rebuilding required not only distilling skill but capital, time, modern equipment, regulation, financing, distribution, and marketing; smaller distillers often needed outside investors or lost control as successful growth consumed cash.
PDF sheet 89
PDF sheet 85
Chapter 7 — 1933
September 29 fresh review: all 283 supplied sheets read and surveyed visually, 13 enlarged details. This paraphrase and locator were reconciled. Verified means source fidelity, not independent confirmation of every historical claim. Sheet85's repeal-ratification duration is unreliable; inventory/capital mechanism is distinct from that date assertion.
Evidence
Cowdery reports that aged American whiskey was highly concentrated when Prohibition ended, while many pre-1917 plants had been dismantled. Rebuilding required not only distilling skill but capital, time, modern equipment, regulation, financing, distribution, and marketing; smaller distillers often needed outside investors or lost control as successful growth consumed cash.
Location and context
PDF sheet 85 through PDF sheet 89; Chapter 7 — 1933.
The evidence explains why repeal did not restore the old industry and why a small number of inventory holders and financiers entered the new era with structural advantages.
Assessment
Useful synthesis of path dependence after repeal. Exact inventory shares and company histories require corroboration.
September 29 verification
September 29 fresh review: all 283 supplied sheets read and surveyed visually, 13 enlarged details. This paraphrase and locator were reconciled. Verified means source fidelity, not independent confirmation of every historical claim. Sheet85's repeal-ratification duration is unreliable; inventory/capital mechanism is distinct from that date assertion.