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
Sikes being largely consulted by gentlemen
who were desirous of establishing "feeders" to the existing Savings
Banks, either in the form of the Penny Bank, or the Mechanics'
Institute "Preliminary" bank. He soon came to be regarded as an
authority on the subject, and justly so; many different banks were at
this early stage formed as the results of his advice and assistance,
and Mr. Sikes seems to have had many gratifying assurances that his
labours have been far from fruitless, a result in which the
philanthropist finds his best reward.[145]
Mr. Sikes's next exertion on behalf of the working population around
him was to help them to a proper estimate of the value of provident
habits, by the publication, in 1854, of a pamphlet entitled _Good
Times; or, the Savings Bank and the Fireside_;[146] an admirable
little manual for the class for which it was written, and which
deservedly obtained a large sale. Mr. Sikes himself described how he
was led to write his pamphlet by hearing, in an extensive intercourse
with working men, the most crude ideas as to the utility and virtue of
habits of economy and frugality; and we know no better corrective than
a perusal of this little "compendium of practical wisdom" now before
us.
Up to this time we find that Mr. Sikes laboured very earnestly to
spread the knowledge of Savings Banks among the people, and to obtain
more appreciation for these institutions. He also, as we have seen,
proposed his "Preliminary Banks" on the principle that, as the
existing institution did not sufficiently recognise the small attempts
at saving habits, this supplementary class of banks would supply the
deficiency. He seems, however, to have carefully abstained from saying
anything that would tend to lessen the influence or usefulness of the
existing Savings Banks; but in 1855, the time would appear to have
arrived when it became necessary to attempt some reforms in their
constitution and management. It is not at all difficult to comprehend
the steps by which Mr. Sikes, with his practical knowledge of Savings
Bank business, would arrive at the conclusion that if these banks were
to continue to be in any sense the depositories of the money of the
poor, they must undergo almost a transformation, and further, that
reform must come from within. That this was the conclusion to which he
came is evident from the able and exhaustive letter which Mr. Sikes
addressed, in 1856, to the Chancellor of the Exchequer, the late Sir
G. Cornewall Lewis, on "Savings Bank Reforms."
Public-domain text, read in full here on John Shaqi.
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