Bulls and Bears on National Beer Day

Dear Client: Yesterday was National Beer Day: On April 7, 1933, the Cullen Harrison Act ended Prohibition on certain beers -- several months before it would end for hard liquor. That "shows the important distinction in the policy world among many consumers and in our national culture and consciousness" that beer should get preferential treatment as America's alcoholic beverage of moderation, per Beer Institute chief Jim McGreevy. He opened the BI's state of the industry webinar to commemorate the day,