A History of Banks for Savings in Great Britain and Ireland

Chapter XX: Appendix: (a.) (2)

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_Sec. 5._ That at least one half of the whole amount of securities held for Savings Banks, exclusive of the amount of the charge on the Consolidated Fund (Section 1), shall be parliamentary securities.

_Sec. 6._ That every year the National Debt Commissioners shall prepare a balance sheet giving the assets and liabilities in respect to Savings Banks, to the credit of which shall be placed the amount of the charge upon the Consolidated Fund for twenty-four millions and all other moneys and securities of every kind; and that a copy of this balance sheet be laid before Parliament each year.

_Sec. 7._ That the deficiency shown shall be a charge upon the Consolidated Fund.

_Sec. 8._ That the powers of investment granted to the Commissioners by other Acts, in so far as they are not varied by this Act, shall continue in force.

* * * * *

"_The Savings Bank Investment Act_," which has just received the Royal Assent (20th March, 1866), empowers the Treasury to substitute terminable annuities for capital stock standing to the account of Savings Banks and Post Office Savings Banks, and empowers the Treasury to make rules as to payments to the National Debt Commissioners. The Treasury is likewise empowered to cancel capital stocks of annuities, and to substitute terminable annuities. The warrants issued by the Treasury to the Bank of England to be a sufficient authority for the cancelling of the stock.

(H.)

FINANCIAL RETURNS, _giving the most recent information relating to
Savings Banks, Post Office Savings Banks, and Military Banks,
including the entire Amount of Deposits placed in each
kind of Bank from their commencement_.

SAVINGS BANKS AND FRIENDLY SOCIETIES.

AN ACCOUNT of the Gross Amount of all Sums Received and Paid by the
National Debt Commissioners on account of Savings Banks and Friendly
Societies in Great Britain and Ireland from their commencement
(August, 1817) to the 20th of November, 1865, inclusive.

----------------------+---------------------+----------------------
From August, 1817, to | Gross Amount of all | Gross Amount of all
20th November 1865. | Sums received |Sums paid to Trustees,
| from Trustees, | including Interest.
| including Interest |
|up to 20th Nov. 1865.|
----------------------+---------------------+----------------------
| £ _s._ _d._| £ _s._ _d._
_Savings Banks._ }| |
Great Britain }|90,179,614 18 9 |51,142,506 15 0
& Ireland. }| |
| |
_Friendly Societies._}| |
Great Britain }| 5,509,975 4 3 | 3,594,271 4 11
& Ireland. }| |
----------------------+---------------------+----------------------
TOTAL. }| |
Savings Banks and }|95,689,590 3 0 |54,736,777 19 11
Friendly Societies.}| |
----------------------+---------------------+----------------------

----------------------+----------------------+---------------------
From August 1817, to | Amount of Money, | Value of the
20th November 1865. | Principal and | Securities held by
| Interest, due to | the Commissioners
| the Trustees | (Nov. 1865),
| (Nov. 1865), |at the Prices of that
| including | day, to provide for
| £302,030 8_s._5_d._ | the Money due
|due on account of the | to Trustees.
|separate Surplus Fund.|
----------------------+----------------------+---------------------
| £ _s._ _d._ | £ _s._ _d._
_Savings Banks._ }| |
Great Britain }|39,037,108 3 9 |36,010,477 4 7
& Ireland. }| |
| |
_Friendly Societies._}| |
Great Britain }| 1,915,703 19 4 | 1,071,198 3 6
& Ireland. | |
----------------------+----------------------+---------------------
TOTAL. }| |
Savings Banks and }|40,952,812 3 1 |37,081,675 8 1
Friendly Societies.}| |
----------------------+----------------------+

Balance Deficient 3,871,136 15 0
---------------------
£40,952,812 3 1
=====================

POST OFFICE SAVINGS BANKS.

AN ACCOUNT of the Sums due to all Depositors in Post Office Savings
Banks throughout the United Kingdom on the 31st March, 1865; of
the Expenses of Management of the Post Office Savings Banks to the
same date; of the Amount standing to the Credit of the Post Office
Savings Banks, on the same date, in the books of the Commissioners
for the Reduction of the National Debt; of the Balance in the
hands of the Postmaster-General at the same date; and of the
Amount of any Loss sustained by the Post Office Savings Banks from
the Frauds committed in the Transmission of Deposits, or otherwise.

[220] According to the Parliamentary Paper No 523, 1861, it was
estimated that the cost of each transaction would be 7_d._ The
actual average cost of each transaction has been 6-7/8_d._

MILITARY SAVINGS BANKS.

AN ACCOUNT of the GROSS AMOUNT of all MONEYS Received and
Paid by the COMMISSIONERS for the REDUCTION of the
NATIONAL DEBT, and of the GROSS AMOUNT of STOCK BOUGHT and
SOLD by and Transferred To the Said COMMISSIONERS on
account of "The FUND for the MILITARY SAVINGS BANKS,"
Pursuant To Act 8 & 9 Vict. C. 27, S 5, From the 19th
September, 1845, To the 5th January, 1866.

W. E. GLADSTONE, C. of E.}
H. L. HOLLAND, Gov. } Commissioners.
THOS. N. HUNT, Dep. Gov. }

National Debt Office,} A. Y. SPEARMAN,
15 February, 1866. } _Comptroller-General_.

POST OFFICE SAVINGS BANKS.

AN ACCOUNT of all DEPOSITS Received and Paid under the
Authority of the Act 24 Vict. c. 14, during the Year ended
31st December, 1865, and of the EXPENSES incurred from the
Commencement of Business, on 16th September, 1861, to 31st
December, 1865, together with a STATEMENT of the TOTAL
AMOUNT due at the Close of the year 1865 to all Depositors.

(_a._)

ACCOUNT of all Deposits Received and Paid from
1st January to 31st December, 1865.

---------------------------------+-------------------------------------------
£ s. d.| £ s. d.
Balance brought |By Repayments from 1st
forward 4,993,123 11 7| January to 31st December,
| 1865, viz.--
To Cash received |
from Depositors |
from 1st | £ s. d.
Jan. to 31st | Cash paid 2,303,525 2 10
December, 1865 3,719,017 13 4| Warrants
---------------| issued,
8,712,141 4 11| but not
To Interest | cashed
thereon up to | at date 15,085 11 7
31st December, | ----------------
1865, computed | 2,318,610 14 5
according to |
7th and 8th |
sections of the |
above-cited Act, |Balance due at the close of
and added to the | the year 1865 to all
Principal Money | Depositors, inclusive of
of the said | interest to 31st
Depositors 132,869 13 7| December, 1865 6,526,400 4 1
---------------| ---------------
8,845,010 18 6| 8,845,010 18 6
===============| ===============

(_b._)

EXPLANATION OF BALANCE.

-----------------------------------------------------------------------
£ s. d.
Balance due at the close of the year to all
Depositors 6,526,400 4 1
===============
Moneys remitted to the Commissioners
for the Reduction of the National
Debt, from 16th September, 1861, £ s. d.
to 31st December, 1864 4,800,900 11 8
Ditto ditto from 1st January to 31st
December, 1865 1,402,789 16 2
---------------
6,203,690 7 10
Deduct:--
Amount transferred from Post
Office Savings Banks, and
which has been written off
the account of Post Office
Savings Banks, at the
National Debt Office,
during the period from
16th September, 1861, £ s. d.
to 31st December, 1864 4,210 1 4
Ditto ditto during the
year ended 31st
December, 1865 2,698 17 11
------------
6,908 19 3
---------------
Net Amount lodged with the
Commissioners for the
Reduction of the National
Debt for investment 6,196,781 8 7

Add:--
Interest accruing to Depositors up to
31st December, 1865, including the
Interest which accrued up to
31st December, 1864 310,755 16 9

Amount advanced on account of
Charges of Management, not
recovered until after
31st December, 1865 14,535 10 11
Balance remaining on 31st
December, 1865, to be
paid over for
investment 4,327 7 10
--------------
18,862 18 9
------------
6,526,400 4 1
===============

(_c._)

ACCOUNT of CHARGES of MANAGEMENT and of EXPENSES incurred for
POST OFFICE SAVINGS BANKS, from their Establishment
on the 16th September, 1861, to the 31st December, 1865.

-------------------------------------------------------------------
£ s. d.
Charges and Expenses for the period from
16th September, 1861, to the
31st December, 1864 91,848 7 4
Charges and Expenses for the year ended
31st December, 1865 49,526 13 10
--------------
141,375 1 2[221]
==============

£ s. d.
The sum standing to the credit of the Post Office
Savings Banks Fund on the 31st Dec. 1865, at
the National Debt Office, was 6,582,329 11 7

And on the same day there was in the hands of
the Postmaster-General a balance of 4,327 7 10
----------------
Making in all 6,586,656 19 5
================
To meet a liability of £6,526,400 4 0
================

[221] Of this sum, which includes the Allowances to Postmasters,
Letter Receivers, and others, for conducting Savings Bank
business, 126,839_l._ 10_s._ 3_d._ was recovered from the
Commissioners for the Reduction of the National Debt prior to 31st
December, 1865, and 14,535_l._ 10_s._ 11_d._ has since been
recovered from the Commissioners.

General Post Office,} STANLEY OF ALDERLEY,
March, 1866. } _Postmaster-General_.

GEORGE CHETWIND,
_Receiver and Accountant General_.

A. C. THOMSON,
_Assistant-Controller of Post Office Savings
Banks_.

(I.)

As the last sheet of this work was passing through the press, the Postmaster-General's Report for 1865, to which reference has already been made, has been printed. The information therein given respecting the progress of some of the measures which we have had under consideration is so important in itself, as well as illustrative and corroborative of our text, as to justify us in making the following extracts. These extracts, which are here given in his Lordship's own words, plainly show the deep interest he takes in those schemes, which have all been commenced during his term of office, and carried out under his immediate oversight and direction.

_Post Office Savings Banks._

The depositors in Post Office Savings Banks increased in number during 1865 at the rate of 29 per cent.; the total sum deposited increased at the rate of 30 per cent. During the first part of the present year the business has increased in a still greater proportion. In the first nine weeks of 1865, the number of deposits was 258,917, and 48,777 new accounts were opened; in the first nine weeks of 1866, 331,027 deposits were made, and 58,472 new accounts were opened. "It is evident, therefore," says Lord Stanley of Alderley, "that great as had been the progress of the Post Office Banks up to the close of last year, there are good grounds for expecting a greater progress hereafter. And I am happy in being able to state, that the Scheme which was framed for the conduct of the Post Office Savings Banks, before any one of them was established, has been found to work well in each and all of its parts, and to admit of any expansion of business, no matter how great or how sudden that expansion of business may be. The officers by whom this Scheme was framed calculated, as a matter of course, upon a large and constant growth of business; but sudden augmentations, arising from causes which could not be foreseen, have been by no means unfrequent. In the first week of the present year, for instance, no less than 10,000 new depositors entered the banks; but even under such sudden and unexpected augmentations of business the scheme of operations has been found to work well."

The following is a comprehensive Statement of the Business of POST OFFICE SAVINGS BANKS from their commencement to the close of the Year 1865, of the Cost of that Business, and of the Funds in hand at the close of each Year.

+------------------------+--------------------------------------------------+
| | PERIOD. |
| +--------------------------------------------------+
| |From |From |From |From |From |
| |16th Sept|31st Dec.|31st Dec.|31st Dec.|31st Sept.|
| |1861, to |1862, to |1863, to |1864, to |1861, to |
| |31st Dec.|31st Dec.|31st Dec.|31st Dec.|31st Dec. |
| |1862. |1863. |1864. |1865. |1865. |
| | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 1|Number of Post Office| | | | | |
| | Savings Banks at | 2,535| 2,991| 3,081| 3,321| 3,321|
| | close of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 2|Number of Deposits | | | | | |
| | received during | 639,216| 842,848|1,110,762|1,302,309| 3,895,135|
| | Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 3|Total Amount of | £ | £ | £ | £ | £ |
| | Deposits received |2,114,669|2,651,209|3,350,084|3,719,017|11,834,979|
| | during Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 4|Average Amount of | | | | | |
| | each Deposit | £ s. d. | £ s. d.| £ s. d.| £ s. d.| £ s. d. |
| | received during | 3 6 2 | 8 2 11| 3 0 3| 2 17 1| 3 0 9 |
| | Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 5|Number of Withdrawals| | | | | |
| | during Period. | 97,294| 197,431| 309,242| 407,412| 1,011,379|
+--+---------------------+---------+---------+---------+---------+----------+
| 6|Total Amount of | £ | £ | £ | £ | £ |
| | Withdrawals during | 438,637|1,027,154|1,834,849|2,318,610| 5,619,250|
| | Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 7|Average Amount of | £ s. d. | £ s. d.| £ s. d.| £ s. d.| £ s. d. |
| | each Withdrawal | 10 2 | 5 4 0| 5 18 8| 5 13 9| 5 11 1 |
| | during Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
| 8|Charges of Management| £ | £ | £ | £ | £ |
| | during Period. | 20,591| 25,401| 45,856| 49,627| 141,375|
+--+---------------------+---------+---------+---------+---------+----------+
| 9|Average Cost of each | d._ | d. | d. | d. | d. |
| | Transaction, viz. | 6-7/10| 5-8/10| 7-7/10| 6-9/10| 6-9/10|
| | of each Deposit or | | [223]| [223]| | |
| | Withdrawal. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|10|Number of Accounts | | | | | |
| | opened during | 205,928| 185,934| 226,153| 239,686| 857,701|
| | Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|11|Number of Accounts | | | | | |
| | closed during | 27,433| 44,760| 74,964| 98,725| 245,882|
| | Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|12|Number of Accounts | | | | | |
| | remaining open at | 178,496| 319,669| 470,858| 611,819| 611,819|
| | close of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|13|Total Amount standing| £ | £ | £ | £ | £ |
| | to credit of all |1,698,221|3,377,481|4,993,163|6,526,400| 6,526,400|
| | open Accounts, | | | | | |
| | inclusive of | | | | | |
| | Interest, to close | | | | | |
| | of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|14|Average Amount | | | | | |
| | standing to credit,| £ s. d. | £ s. d.| £ s. d.| £ s. d.| £ s. d. |
| | of each open | 9 10 3 | 10 11 4 | 10 12 1 | 10 13 4 | 10 13 4 |
| | Account at close | | | | | |
| | of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|15|Total Sum standing to| £ | £ | £ | £ | £ |
| | credit of Post |1,659,032|3,328,182|4,995,663|6,582,329| 6,582,329|
| | Office Savings | [222]| [222]| [222]| [222]| |
| | Banks on Books of | | | | | |
| | National Debt | | | | | |
| | Commisioners at | | | | | |
| | close of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|16|Balance in hands of | £ | £ | £ | £ | £ |
| | Postmaster-General | 35,692 | 44,413 | 5,522 | 4,327 | 4,327 |
| | after allowing for | | | | | |
| | Charges of | | | | | |
| | Management, at | | | | | |
| | close of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|17|Total Balance in | £ | £ | £ | £ | £ |
| | hand, applicable |1,694,724|3,372,595|5,001,185|6,586,656| 6,586,656|
| | to payment of | [222]| [222]| [222]| [222]| |
| | Depositors, at | | | | | |
| | close of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|18|Number of Old Savings| | | | | |
| | Banks and Post | 3,157| 3,594| 3,659| 3,822| 3,822|
| | Office Banks | | | | | |
| | combined, at close | | | | | |
| | of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+
|19|Number of Depositors | | | | | |
| | in Old Savings |1,732,556|1,876,389|1,967,663|2,078,346| 2,078,346|
| | Banks and Post | | | | | |
| | Office Banks | | | | | |
| | combined, at | | | | | |
| | close of Period. | | | | | |
+--+---------------------+---------+---------+---------+---------+----------+

[222] These sums do not include the dividends accruing to the Post
Office Savings Bank on the 5th January; that is, five days after
the close of the account in each year.

[223] The falling off in the cost per transaction during 1863 and
the increase in that cost during 1864 are attributable to one and
the same cause, viz., to the payment during 1864 of various
charges properly belonging to 1863.

_Insurances_

"Of the whole number of persons whose proposals have been accepted:--

501 decided to pay their premiums - annually.
20 " " - half-yearly.
81 " " - quarterly.
5 " " - six times a year.
181 " " - monthly.
3 " " - fortnightly.
and
18 have paid their premiums in one sum

"Of the whole number of persons who have commenced to pay premiums, 8 have allowed their policies to lapse by default, and 14, having defaulted, have on application been re-admitted. In no case, however, have I found it necessary to impose the prescribed fine for default.

"The total sum insured at the present time is 60,874_l._, and the gross annual premium income, exclusive of the sums received in single payments, is 1,924_l._

"Of the whole number of proposers, 866 have been males, and 68 females. In a very few cases it has been necessary to charge an extra premium for extra risk, arising out of somewhat defective health; and in the case of a few married women, who were pregnant at the date of the insurance, it has been thought right to add to the first premium, but only to the first premium, a special premium of 10_s._ per 100_l._ to cover the risk attendant on confinements.

"_No deaths have occurred up to the present time amongst the persons insured._"

_Annuities._

"Since the commencement of business, 238 proposals for the purchase of Annuities have been received; of these, 4 have been dropped, 4 are under consideration, and 230 have been accepted. Of the proposals which have been accepted, 150 have been for the purchase of Immediate Annuities, the amount of annuity purchased being 3,430_l._, and the purchase money being 39,774_l._ Of the remainder, 15 were for the purchase, by immediate payments, of Deferred Annuities, the amount of deferred annuity purchased being 232_l._, and the amount of purchase money paid down being 1,543_l._ The remainder, 65, were for the purchase of Deferred Annuities by annual or more frequent payments, the amount in course of purchase being 1,368_l._, and the amount of purchase money annually payable being 759_l._ Of the 238 intending annuitants, 103 were males and 129 were females. The remaining six proposals were for insurances on joint male and female lives.

"While the Government Insurance and Annuity Act was under consideration by the Legislature, an opinion was expressed that Friendly Societies which had undertaken to provide, in return for a single subscription, sick pay, old age pay, and death pay, would do well to make arrangements for the transfer of their old age and death risks to the Government, by payment, of course, of a proper consideration, and to confine themselves to dealing with the liabilities contingent on sickness. I have recently received a proposal from a large Friendly Society for the transfer of its old age risks to the Government, and the terms of the arrangement are now under consideration. I am informed, moreover, that other proposals of this kind are likely shortly to be made.

"On the whole, I am able to conclude my observations on this subject by stating, that the Scheme framed for the conduct of Insurance and Annuity business has worked smoothly and well; that the checks established for the protection of the Government have hitherto proved sufficient for their purpose; that the advantages of the measure are gradually becoming known to the classes for whose benefit it was devised, and that, looking to all the circumstances of the case, and the steady and continued growth of the business, the success of the measure may be regarded as established."

GOVERNMENT ANNUITIES AND INSURANCES GRANTED UNDER ACT
27 & 28 VICT. CAP. 43.

An Account showing the Number and Amount of Sums received
and paid, and the Number and Amount of Contracts granted
by Her Majesty's Postmaster-General, under authority of
the Act 27 & 28 Vict. c. 43, from the Commencement of
Business on the 17th April, 1865, to the 31st December,
1865, together with the Number and Amount of Contracts in
existence on the 31st December, 1865, and the Amount paid
for Charges of Management.

(I.)

An Account showing the Number and Amount of Sums received
and paid on Account of Government Annuity and Insurance
Contracts from the Commencement of Business on the 17th
April, 1865, to the 31st December, 1865.

------------------------------+------------------++
| RECEIPTS ||
-- +-----+------------++
| No. | Amount ||
------------------------------+-----+------------++
To Cash received for the | | £ s d ||
purchase of Annuities, | | ||
viz.:-- | | ||
| | ||
+---+------------+ | ||
|No.| Amount | | ||
+---+------------+ | ||
For Immediate| | £ s d| | ||
Annuities | 87|22,738 9 9| | ||
For Deferred | | | | ||
Annuities, | | | | ||
Money not | | | | ||
returnable | 27| 845 7 10| | ||
Ditto, Money | | | | ||
returnable | | | | ||
| 40| 497 7 6| 154|24,081 5 1||
+---+------------+ | ||
To Cash received for Fees on | | ||
Annuity Contracts | | 139 14 0||
| | ||
To Cash received from the | | ||
Commissioners for the | | ||
Reduction of the National | | ||
Debt for payment to | | ||
Annuitants:-- | | ||
+------------+ | ||
| £ s d| | ||
Gross | 430 5 0| | ||
Less Income Tax | 0 16 8| | 429 8 4||
+------------+ | ||
| | ||
To Cash received on account of| | ||
Contracts for the payment of| | ||
Sums at Death |1,076| 1,165 13 1||
| | ||
| | ||
| | ||
| | ||
| £|25,816 8 6||
------------------------------+------------------++

++------------------------------+------------------
|| | PAYMENTS
++ -- +-----+------------
|| | No. | Amount
++------------------------------+-----+------------
||By Cash paid to the | | £ s d
|| Commissioners for the | |
|| Reduction of the National | |
|| Debt for Investment on | |
|| Account of Sums received for| |
|| the purchase of Annuities. | |23,046 8 9
||By Cash paid to Annuitants, | |
|| viz:-- | |
|| +------------+ |
|| | £ s d| |
||Cash paid | 423 13 4| |
||Warrants issued, | | |
|| but not cashed | | |
|| at date | 5 10 0| 33| 429 8 4
|| +------------+ |
||By Cash paid to the | |
|| Commissioners | |
|| for the Reduction of the | |
|| National Debt for Investment| |
|| on account of Premiums | |
|| received on Contracts for | |
|| Sums payable at Death | | 984 0 0
|| | |
||By Balance remaining to be | |
|| paid to the Commissioners | |
|| for the Reduction of the | |
|| National Debt on the 31st | |
|| December, 1865, viz.:-- | |
|| +------------+ |
||On account of | £ s d| |
|| Annuity | | |
|| Contracts, | | |
|| including Fees | 1,174 10 4| |
||On Account of | | |
|| Contracts for | | |
|| Sums payable | | |
|| at Death | 181 13 1| | 1,356 3 5
|| +------------+ +------------
|| | £|25,816 0 6
++------------------------------+------------------

(II.)

An Account showing the Number and Amount of Contracts
entered into by Her Majesty's Postmaster-General from the
Commencement of Business on the 17th April, 1865, to the
31st December, 1865, and the Number and Amount of
Contracts in existence on the 31st December, 1865.

+------------------------------------------------------+-----------------+
| | CONTRACTS. |
| -- +---+-------------+
| |No.| Amount. |
+------------------------------------------------------+---+-------------+
|Contracts for Annuities granted from the commencement | | £ s. d.|
| of business on the 17th April, 1865, to the 31st of | | |
| December, 1865, viz.:-- | | |
| +--+------------+ | |
| | | £ s. d.| | |
|Immediate Annuities |87|2,100 0 0| | |
|Deferred Annuities, | | | | |
| Money not returnable |20| 438 4 0| | |
|Deferred Annuities, | | | | |
| Money returnable |25| 511 10 0|132| 3,049 14 0 |
| +--+------------+ | |
| | | |
|Contracts for Sums payable at Death granted from the | | |
| commencement of business on the 17th April, 1865, | | |
| to the 31st December, 1865 |547| 40,649 2 4 |
| | | |
|Contracts for Annuities in existence on the 31st | | |
| December, 1865, viz.:-- | | |
| +--+------------+ | |
| | | £ s. d.| | |
|Immediate Annuities |87|2,100 0 0| | |
|Deferred Annuities, | | | | |
| Money not returnable |20| 436 4 0| | |
|Deferred Annuities, | | | | |
| Money returnable |25| 511 10 0|132| 3,049 14 0 |
| +--+------------+ | |
| | | |
|Contracts for Sums payable at Death in existence on | | |
| the 31st December, 1865 |544| 40,349 2 4 |
+------------------------------------------------------+---+-------------+

(III.)

An Account showing the Amount paid for the Charges of Management
from the Commencement of Business on the 17th April, 1865 to the
31st December, 1865.

+------------------------------------------------+-----------+
| | £ s. d.|
| Salaries of Officers | 159 0 10 |
| Stamps on Policies | 32 10 0 |
| Fees to Medical Officers | 13 7 6 |
| Incidental disbursements, including Travelling | |
| Charges | 7 3 8 |
| Postage | 123 4 5 |
| +-----------+
| £| 335 6 6 |
+------------------------------------------------+-----------+

INDEX.

Acknowledgement of deposits in Post Office Banks, 329-331.

Acts of Parliament relating to Savings Banks, Post Office Banks,
Government Annuities, &c. See _Appendix_.

Althorp, Lord, moves for a bill to grant Annuities through the medium
of Saving Banks, 69;
replies to Mr. Attwood, 73.

Annuities, Government: first proposals for, 69; 347;
alteration of the law relating to, 152;
a new scheme is proposed in 1864, 348 _et seq_;
Mr. Gladstone introduces a bill into Parliament concerning, 350;
is discussed and carried, 353-362;
regulations for working the measure, 362;
how to purchase, 372-4;
progress of the new measure of, 375-7.

Attwood, Mr. Thomas, M.P. opposes legislation for Savings Banks, 71;
speaks against Savings Banks, 72; 82.

Auchterarder Savings Bank, failure of the, 137;
particulars of this fraud, 193.

Auditors, Government proposals for, 146.

Australian Government Banks, 344.

Ayrton, Mr., M.P. on Savings Banks, 162;
assists in bringing in a bill to regulate Savings Banks, 179;
assists in bringing in the Consolidation Act, 182;
respecting his connexion with Government banks, 277;
strongly opposes the Post Office Bank Bill in Committee, 303;
presides at a working man's meeting in London in opposition to the
Government Annuities Bill, 359;
opposes it in the House, 360.

Baines, Mr. E., M.P. advocates Mr. Sikes's proposals for Post Office
Banks, 286;
again, 301.

Bath, the Provident Institution of, origin of, 25.

Benefit Societies: compared with Savings Banks, 85; 86;
disadvantages of, 37;
unsound character of many of them, 353-5;
oppose the Government Annuities Bill, 354, 356;
on compulsory payment to, 391 _note_.

Bentham, Jeremy, proposes "Frugality Banks," 271;
provisions of his scheme, 271-2.

Bentinck, Lord George, speaks on Savings Banks, 134.

Bilston Savings Bank, frauds in, 208 _et seq_;
the _Times_ on this fraud, 235.

Birmingham Savings Bank, 324.

Boodle, Mr., represents Savings Bank managers, 166;
again, 173;
gives evidence before the Committee of 1858, 173 _note_;
on systems of book-keeping, 261;
on confidence in trustee's names, 385 _note_.

Book-keeping, different systems of, 260;
difficulty of effecting changes in systems of, 261.

Branch Banks, not in favour with Savings Bank managers, 286.

Bright, Mr., M.P. in favor of Government paying defrauded depositors,
142;
on Government security, 232.

Brighton Bank fraud, 204 _et seq_.

Buckingham, Mr. J. Silk, on compulsory savings, 390-1.

Building Societies compared with Savings Banks, 382-3.

Bullar, Mr. John, proposes Postal Banks, 280 _et seq_; 343.

Business done in Post Office Banks, amount of, 313 _et seq_;
nature of, 318 _et seq_.

Canterbury Bank fraud, 218 _et seq_.

Chadwick, Mr. Edwin, on Post Office Banks, 311.

Chalmers, Dr., on Savings Banks, 105;
on the Interest Rate, 341.

Chetwynd, Mr., proposes a scheme for applying Savings Banks to the Post
Office machinery, 292;
the scheme is recommended by Mr. Scudamore, 293;
adopted in full, 294;
is appointed Controller of the Post Office Banks, 313;
on the Government Annuities scheme, 349.

Clubs at Public Houses, 37.

Cobbett, William, M.P. on Mr. Rose, 46, 81;
speaks of the bubble of Savings Banks, 81.

Committees on Savings Banks: one is appointed on Irish Banks in 1849,
130;
reappointed in 1850, 135;
one is appointed to go over the whole subject in 1858, 164;
report of proceedings of Committee on 1858, 165 _et seq_;
recommendations of the same, 169-170;
one is appointed on the Annuities scheme, 361.

Compensation to Savings Bank officials, 328.

Compulsory enactments to secure frugality, 50, 389 _et seq_.

Consolidation Act of 1863, 182;
clauses of the Act, _Appendix_ (B) 400 _et seq._

Co-operative Societies and Savings Banks, 382-3.

Corporation Savings Banks, _Appendix_, 410.

Cost of transactions in Post Office Banks, 305; 334-5.

Craig, Mr., of Cork, on systems of book-keeping, 260-1;
objects to the taking of small deposits, 264.

Crossley, Sir Francis, advocates Mr. Sikes's plan, 298.

Cuffe Street Bank fraud: early history of this bank, 133;
discovery of the actuary's defalcations, 115;
subsequent management of the bank, 116;
closing and its results, 118;
a Committee is appointed concerning, 129-30;
reappointed, 135;
depositors are compensated by Government, 142.

Declaration, origin of the subscribing of the Savings Banks, 59;
is an unnecessary limitation, 342.

Defects of Savings Bank system, 266-8;
of the Post Office Bank system, 342-4.

Deposits: limit of the amount of, 53;
altered in 1824, 59;
average amount of, in Post Office Banks, 320;
acknowledgment of, in Post Office Banks, 330-1;
limit of the total amount of, in Post Office Banks unnecessary, 342-3;
may be made available for paying premiums on Government Life
Insurances, 367.

Depositors: defrauded, several members speak in behalf of, 150;
number of, in Post Office Banks, 315;
character of, in the same, 319;
analysis of, in the same, 321;
increase of, in the same, 320;
number of Post Office Banks failing to obtain, 321;
how they must proceed in Post Office Banks, 329 _et seq._

Disraeli, Mr. M.P. speaks of Savings Bank legislation, 155.

Distribution of Savings Banks, the irregular, 236.

Douglas, Mr. M.P. introduces a bill to regulate Scotch Savings Banks, 57.

Duncan, Dr. Henry, of Ruthwell: Founder of Savings Banks, 28;
early life, 29;
literary pursuits, 30;
proposes Parish Banks, 32;
establishes the Ruthwell Bank, 33;
assists in the establishment of other banks, 33-4;
writes an Essay on Savings Banks, 34;
his death, 57;
advises Government encouragement and protection, 57;
corresponds with Mr. Douglas on the subject, 58.

"Edinburgh Review," 1807, on Mr. Whitbread's proposals, 24;
on Savings Banks, 28, 380.

Edinburgh Savings Bank, the original 40-43; many banks are formed
on its model, 41.

Education, improvement in systems of, 6.

Employers of labour: recommended to consider a scheme of Life
Insurance at work at the Post Office, 369;
how they may assist their workmen in the same way, 370-1;
their duty to their workmen, 386;
their influence, 389-90.

Equalization of interest in different banks, 339-40.

Estcourt, Mr. Sotheron, and Savings Banks, 162-3;
is appointed Chairman of Committee of 1858, 164;
speaks on failures in legislation, 176;
assists in bringing in a bill, 179;
opposes Post Office Banks, 300;
on Government Annuities scheme, 359; 361-2.

Exeter Savings Bank, establishment of, 26.

Expenses of different banks, 264.

Facilities, absence of, in Savings Banks, 239;
not proportioned according to population, 240;
increase of, 371.

Farquhar, Sir Minto, on the Government Annuities Bill, 359; 362.

Financial crisis of 1826: description of, 92;
consequences of the, 93, 94.

Fletcher, Rev. H. S. and his frauds at Bilston, 208 _et seq_.

Frauds in Savings Banks: Cuffe Street, 111 _et seq_;
Hertford Bank, 118;
Tralee Bank, 184 _et seq_;
Killarney Bank, 191 _et seq_;
Auchterarder Bank, 193-4;
Rochdale Bank, 203-4;
Brighton Bank, 204 _et seq_;
Mr. W. H. Grey on, 207-8;
at Newport, Isle of Wight, 208;
Bilston Bank, 208 _et seq_;
Canterbury Bank, 218 _et seq_;
return of, 223;
Worcester Savings Bank, 225 _note_;
the remedy for, 225;
the result of, 231.

Friendly Societies: benefits of, compared with those from Savings
Banks, 69; 85-6;
disputes between, 80;
oppose the Government Insurance measures, 351;
unsound societies, 353;
Mr. Gladstone on, 354-5;
failure of, 356;
defended by Mr. Sheridan, 357.

Frugality Banks proposed by Bentham, 271-2.

Gladstone, Mr., his connexion with the subject, 156;
introduces a bill into Parliament in 1853, 157;
withdraws it, 158;
obtains leave to introduce further measures in the session of 1855,
158;
speaks on the Government use of Savings Bank money, 159;
introduces a bill relating to the investment of the same, 175;
the bill is lost, 177;
re-introduced and carried, 181;
his connexion with Post Office Savings Banks, 179-80;
considers Mr. Sikes's proposals, 288;
urges the preparation of some such plan on the Post Office
authorities, 291-2;
brings in a bill to establish Post Office Banks, 294 _et seq_;
speaks on the second reading, 301;
again, in Committee, 304;
answers objections to and questions concerning the bill, 305-6;
as author of the bill, 312;
on the interest given in Post Office Banks, 340;
introduces his Annuities and Insurance scheme, 350;
defends his plans in a long speech, 353-7;
consents to the appointment of a Select Committee, 361;
carries his measure through the House, 362.

Göschen, Mr., M.P., on the Government Annuities Bill, 360, 361.

Goulburn, Mr., incident in connexion with his official life, 66;
opposes the reduction of the interest rate, 78;
brings in a bill to amend the law, in 1844, 122;
proposes a reduction of the interest rate, 124;
assists the whigs in evading a full inquiry, 137;
on Savings Bank money, 172.

Government Banks, proposals for, chap. VIII. 269 _et seq_.

Government and Savings Banks--its loss from Savings Banks, 74, 146;
its gain from the use of Savings Bank money, 174; 268;
makes good the loss from fraud, in one case, 141.

Government employés and provident habits, 387-8.

Greaves, Samuel, and the Canterbury Bank fraud, 218 _et seq_.

Guarantee Fund, first proposed by Mr. Sikes, 258.

Habits of workmen, improvements in, 10; 385;
still need improvement, 390.

Hamburg, Savings Banks in, 18.

Hamilton, Rev. G. H. proposes Postal Banks, in 1852, 278;
proposes that the Limitation clause be extended, 343.

Hancock, Dr., writes on Savings Banks, 235;
referred to in connexion with, 256-7;
his connexion with Postal Banks, 275-6;
approves Mr. Sikes' plan, 288.

Hatton, Mr., a witness before the Committee of 1858, 165;
investigates the Reading and Brighton frauds, 204; 206.

Haworth, George, and the Rochdale frauds, 195 _et seq_.

Herbert, Mr. H. A., M.P., speaks upon Irish Bank frauds, 157-9;
moves a resolution disapproving the conduct of the Government in
relation to Savings Banks, 154.

Hertford Savings Bank: origin of the, 27;
defalcations in, 118;
account of the fraud, 119;
discussion in the House of Lords concerning the fraud, 120;
again, 310.

Hill, Sir Rowland, on Mr. Sikes's plan, 286; 301.

Hindrances to the usefulness of Savings Banks, 105;
frauds in Savings Banks, chap. VI. p. 183 _et seq_.

Hume, Mr. Joseph: his first speech on Savings Banks, 61;
calls for a return, 63;
speaks of the Government loss from Savings Banks, 62, 76;
on the Surplus Fund, 64;
speaks on the rate of interest, 74; 129;
anecdote of, in connexion with Sir R. Peel, 129;
speaks in favour of Sir Charles Wood's bill of 1850, 149-50.

I. J. K.

Improvement in the social habits of the working classes, 10; 385.

Improvidence of many classes, 13; 390.

Increase of Savings Bank business, 1825 to 1840, 97;
of depositors and deposits in Post Office Banks, 315-7.

Inspection of depositors' books, 146.

Insurance, Government: early objections to the plan of, 153;
later objections to, 351;
bill to regulate, 349 _et seq_;
carried, 362;
features of, and details of the measure, 362;
special advantages of, 363 _et seq_.

Interest given by Savings Banks: first rate of, 53;
attracts the richer classes, 54;
proposals to reduce the rate, 60; 75-6;
the _Westminster Review_ on, 76;
Mr. Spring Rice on, 77;
the consequences of the reduction of 1828, 95;
fresh proposals to reduce the rate, 147;
Savings Bank managers, differ on the question, 262;
in Post Office Banks, 338 _et seq._;
Dr. Chalmers on, 341;
Mr. Mill on, 341;
shown by an interesting example, 381-2;
interest given by Post Office Banks, 338-340.

Investment of Savings Bank money: an early dispute concerning the, 53;
the mode of, is explained to the Committee of 1858, 170-1;
Savings Bank managers object to the mode, 173;
benefits to the Government of present arrangements, 174.

Irish Savings Banks: early banks, 44;
at first beneficial to the country, 112;
disastrous effects of the frauds in, 112; 118;
Committees of Inquiry respecting, 130; 136;
a bill is passed to amend the law relating to, 151;
the frauds cause a breaking up of Irish banks, 236;
number of Post Office Banks failing to obtain depositors in Ireland,
322.

Killarney Bank fraud, 191 _et seq_.

Legislation on Savings Banks: early measures of, 45 _et seq_;
Savings Bank Acts are consolidated, in 1828, 65;
Mr. Goulburn's bill, 123;
amendment is proposed, in 1848, 133-4;
Act is made to apply to Ireland only, 135;
Sir Charles Wood introduces the Amendment Act of 1850, 139-40;
shown to be much required, 141;
is withdrawn, 151;
an Act is passed to amend the law on Government Annuities, 153;
Sir G. Lewis introduces the Government bill, 160;
withdraws it, 164;
a Committee of Inquiry is appointed, in 1858, 164-5;
finding of the Committee, 168-9;
Mr. Gladstone introduces a bill to provide for the investment of
Savings Bank money, 175;
withdrawn, 177;
re-introduced and carried, 182;
the Consolidation Act is introduced and carried, 182;
Mr. Gladstone brings in and carries his bill to establish Post
Office Banks, 294 _et seq_.

Lewis, Sir G. C., re-introduces the Government bill, 159;
replies to objections, 163;
withdraws it, 164;
sees Mr. Sikes on Savings Bank reforms, 256.

Limit of Deposits: is altered, 53;
again altered, 59;
proposals to alter, 124;
fresh proposals to alter, 147;
in Post Office Banks, 342-3.

Maitland, Mr., of Edinburgh, 258 _note_.

Managers of Savings Bank: combine to oppose Mr. Goulburn's Act, 128;
meet in London to oppose Sir C. Wood's scheme, 147-9;
are examined before the Committee of 1858, 165;
object to Government using their money, 173;
differences of opinion amongst, 260-2;
many object to take small deposits, 264;
differ as to notices of withdrawal &c., 265.

Manchester Savings Bank, 240-1;
compared with the Liverpool Savings Bank, 242.

Masters of Workmen: deducting part of the wages of their operatives
for investment in Savings Banks, 272;
their attention directed to the regulations for Government Annuities
and Insurance, 363;
their duties, 385;
how they may assist their workmen, 387-8.

Mechanics' Institutes, and Savings Banks, 253.

Military Savings Banks, 243 _et seq._;
Acts regulation, 414 _et seq._

Money Order Office: great progress of the, 285;
assists in the business of Post Office Banks, 330; 333;
all the offices to be Post Office Banks and agencies for the
Annuities and Insurance business, 313; 375.

Money of Savings Banks: security of, 56;
Mr. Gladstone speaks of the Government use of, 158;
benefits derived from the use of, 174.

Monteagle, Lord, of Brandon examined before the Committee of 1858, 167;
opposes the Post Office Bank bill, 303;
makes a "protest" against it, 310.

National Debt Office, 155;
mode of proceeding in, with reference to Savings Bank matters, 170.

Naval Savings Banks: proposals for, _Appendix_, 413.

Neild, Mr. J. H., of Manchester, examined before the Committee of 1858, 165;
speaks as to increased facilities causing increased business, 241;
instances the Liverpool Savings Bank, 242.

Newport, Isle of Wight, fraud in Savings Bank, 208-9.

Nineteenth Century, the century of the working man, 23.

Number of Savings Banks inadequate, 238;
of hours during which they were open in 1861, 239;
of Post Office Banks, 314;
of old banks which have transferred their business to the new banks,
325 _et seq_.

Officials of Savings Banks, the change from paid to unpaid, and
results, 143;
compensation to, on the breaking up of institutions, 328.

Opposition to Government measures by Savings Bank managers, 128;
141-9; 163-4; 177-80;
by Insurance Societies and Benefit Societies, 352; 360.

P. Q.

Pallmer, Mr., M.P., proposes the first Savings Bank Consolidation Act, 65.

Parochial relief to Savings Bank depositors, 52;
depositors compared with the number of persons in receipt of, 230.

Pease, Mr. Joseph, M.P., on Savings Banks, 71.

Penny Savings Banks, 246 _et seq._;
advantages of, 249.

Poor Laws and Savings Banks, 49-50;
the result of Savings Banks on, 98;
shown by Table, 100-1;
the Amendment Act of 1834, 102; 389.

Post Office and Life Insurance, 369-70;
employés of, provided for by other provident measures, 387-8.

Post Office Savings Banks: in relation to the frauds in ordinary
Savings Banks, 216-17; 222;
their present and future position, 273;
_Handy Book_ on, 274 _note_;
origination of the principle of, 274;
persons wrongly credited with the origination of, 275-7;
banks in connexion with the Money Order Office first proposed by
Rev. G. H. Hamilton in 1852, 278;
next by Mr. Bullar of the Temple, 280 _et seq._;
Mr. Sikes, of Huddersfield, proposes Post Office Banks, 284;
the nature of his proposals, 284-5;
addresses Mr. Gladstone in a printed letter, 287;
Mr. Gladstone's reply, 288;
the proposals are referred to the Post Office, 289;
important objections to them, 291;
Mr. Chetwynd proposes an entirely new scheme, 292;
is recommended by Mr. Scudamore, 293;
adopted by Lord Stanley of Alderley, 294;
Mr. Gladstone carries a bill through the House of Commons to
establish the banks, 294 _et seq._;
Lord Stanley of Alderley carries it through the Lords, 306 _et seq._;
receives the Royal Assent, 310;
the benefit of the banks to the country, 312;
their success, 313;
their introduction into the country, 313;
the amount of business done in, 313 _et seq._;
nature of the business done in, 318 _et seq._;
number of, at different times, 314-15;
statistics relating to, 315 _et seq._;
increase in the number of depositors in, 317;
have a special public, 319;
their progress where they were not supposed to be wanted, 320;
character of the new depositors in, 321;
result of, on old banks, 322 _et seq._;
return of old banks which have transferred their business to, 325
_et seq._;
mode of transacting business in, 328 _et seq._;
information on the subject of, where obtainable, 329 _note_;
as to depositing money in, 329-32;
as to withdrawing money out of, 333;
internal arrangements of chief Savings Bank, 333-4 _note_;
cost of transactions in, 334-5;
the peculiar advantages of, 335 _et seq._;
how affected by frauds, 336;
security, 335;
despatch, 336;
secrecy, 337;
engage to take small sums, 338;
rate of interest in, 338 _et seq._;
Government Annuities scheme, an offshoot of, 350; 360;
assist depositors in the matter of Government Annuities and
Insurance, 367;
Act regulating, _Appendix_ 416 _et seq._;
further progress of, _Appendix_ 430.

Pratt, Mr. John Tidd: appointed certifying barrister, &c. of Savings
Banks, 67;
his connexion with the Cuffe Street bank, 117;
urges the reduction in the limit of deposits, 124;
his powers are enlarged, 125;
is blamed on account of Irish banks, 136; 139;
exonerated by a Committee of Inquiry, 140;
gives evidence before the Committee of 1858, 165;
is consulted as to the Consolidation Act, 182;
makes awards in the Tralee bank frauds, 191;
in the Killarney case, 193;
attends at Bilston on account of the frauds there, and explains
them, 213-15.

Preliminary Savings Banks, 253-4.

Progress of Savings Banks: in their earlier stages, 89;
shown by Table, 91;
shown by Table, 97;
shown by Table, 227;
rate of, at different periods, 229;
of Post Office Banks, 313 _et seq._;
progress of the additional measures, 375-7.

Progress of the country, between 1824 and 1840, shown by statistics, 103;
shown again by statistics, 230-1.

Provident habits, increase of, 99;
importance of cultivating, 378-80;
masters of workmen should help to cultivate, 386-7;
want of among large numbers, 390.

Provisions of the first legislative enactment on Saving Banks, 52-3;
of the first Consolidation Act, 67-8;
of the first bill to grant Annuities, 70;
of Mr. Goulburn's Act of 1844, 127;
of Sir Charles Wood's bill of 1850, 145 _et seq._;
of the Government Annuities and Insurance scheme, 364, _et seq._;
of the Acts at present in force with regard to Savings Banks, Post
Office Banks, Annuities, and Government Insurance, _Appendix_.

_Quarterly Review_, on Dr. Duncan, 30-31;
on the prosperity of the country in 1826, 92;
on the progress of Savings Banks, 80;
makes proposals for a system of banks, 273-4;
on compulsory investment of workmen's earnings, 389;
on Co-operative Societies, 383 _note_.

Rates of Interest: proposals to reduce the, 60; 75-6; 147;
difference of opinion on the question, 262;
different in different banks, 263;
in Post Office Banks, 338 _et seq_; equalization of, 340.

Reading Bank fraud, 203-4.

Reform, agitation of 1831 & 2, 96;
its consequences on Savings Banks, 98.

Reynolds, Mr., M.P., speaks on the Dublin Bank fraud, 136;
proposes and carries a Committee of Investigation in 1849, 138.

Rice, Mr. Spring, defends the rate of interest given, 77;
opposes Mr. Hume, 78;
gives some interesting statistics on the matter of Savings Banks,
78. (_See_ Lord Monteagle).

Rochdale bank fraud, 195, _et seq_.

Roebuck, Mr., M.P., on the Government Annuities bill, 385.

Rose, Right Hon. George, establishes the Southampton Savings Bank, 26;
Cobbett's attack upon him, 46-7;
introduces the first Savings Bank bill, 47;
re-introduces it the year after, 49.

Rural districts, Savings Banks in, 109.

Ruthwell Bank: established by Dr. Duncan, 31 _et seq._;
rules, &c. of the, 37-40;
character of the, 58.

Savings Banks: not an object of controversy, 16;
the founder of, 28;
the first bill for regulating, 65;
compared with Friendly Societies, 85-6;
their results on the general progress of the country, 1824 to 1840,
104;
their merits disputed, 106-7;
frauds in, Chapter VI. p. 183 _et seq._;
progress of, 227;
list of counties without, 237;
number of, in 1860, 236;
absence of facilities in, 239;
number of hours they were open in 1860, 239-40;
return relating to the ten principal, 267;
the principal defects of the Savings Bank system, 266-8;
results of Post Office Banks on, 322 _et seq._;
list of those transferred to Post Office system, 325 _et seq_;
and Government Annuities, 348;
are preliminary means, 380;
are safe and productive, 381-2;
Abstracts of Acts relating to, _Appendix,_ 400 _et seq_.

Scotch Savings Banks: early Acts relating to, 57-8;
the Consolidation Act of 1828 extended to, 74.

Scudamore, Mr., reports on Mr. Chetwynd's plan of Post Office Banks,
293;
on a scheme for working Government Annuities, 349;
superintends the arrangements for introducing the measure, 362;
devises a plan for assisting Post Office employés to insure their
lives, 369.

Seamen's Savings Banks, 245-6;
Act regulating, 412-13.

Secrecy in connexion with Post Office Banks, 337.

Security of Savings, the most important consideration, 51;
erroneous impression as to Government security, 133;
in Post Office Banks, 335.

Sharman, Mr., _Handy Book_, 274; 276; 329 _note_.

Sheridan, Mr., M.P., on Friendly Societies, 357.

Sikes, Mr. C. W., of Huddersfield;
is a witness before the Committee of 1858, 164;
his evidence, 167 _note_; 174 _note_;
on the increase of facilities, 242;
some particulars of his life, 250 _et seq._;
proposes Preliminary Banks, 253;
writes a pamphlet called "Good Times," 255;
addresses Sir G. C. Lewis on Savings Bank reforms, 256;
his recommendations, 257-8;
Government Banks, 274;
proposes Post Office Savings Banks, 283 _et seq._;
addresses Mr. Gladstone on the subject, 287;
defects of Mr. Sikes's plan, 291;
supports the Government scheme, 301.

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A History of Banks for Savings in Great Britain and IrelandChapter XX: Appendix: (a.) (2)

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