A History of Banks for Savings in Great Britain and IrelandLewins, William
History
A History of Banks for Savings in Great Britain and Ireland
Lewins, William
Postal savings banks -- Great Britain; Savings banks -- Great Britain
eventual imprisonment for two years, it is not befitting that we
should enter, these being items of almost current police intelligence.
We can only spare a few words to tell how similar results followed in
this as in previous frauds. Men declared they would put it out of the
power of mortal man to deceive them in this way again. In many cases a
degree of recklessness was induced in those who had been cruelly
wronged, which could only have been considered excusable if they had
lost their all. It is not at all unnatural, that, from what cannot but
be considered a defective education, men should so act, and be so ill
prepared and disinclined to look evil consequences fairly in the face:
still such facts only prove the truth of what we have before urged,
that the extent of money loss, through such dishonest transactions as
Savings Bank frauds, is but a trifling part of the aggregate
misfortune they entail upon the country. Other depositors, it is but
fair to say, acted far more wisely. Induced by the counsel and
persuasion of those whom they could trust in a time of need, many
depositors in other banks withdrew their money, and placed it where
alone they could get that security which they so much needed, and
several of the Bilston depositors did the same with the sums they
obtained. It was represented to them truly, that not only would
Government suffer by a run upon the old banks, but, what was of far
more importance, they would themselves suffer, and their second period
of suffering be worse than their first. Nothing can be so palpably
true as that money, completely withdrawn at such times, is oftener
wasted than kept, and frugal habits rewarded after this fashion far
oftener discontinued than resumed.
Public-domain text, read in full here on John Shaqi.
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