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
And this brings us to the early history of Post Office Savings Banks,
and to the numerous suggestions which at one time or another seem to
have been made with regard to them. No less in respect to the place
which these banks are designed to occupy as important public
institutions--the people's principal purse--(and that their position
in the country will at no distant period be a commanding one there
cannot be a reasonable doubt) than for their present attained position
and intrinsic value, the question of their early history is a matter
for most careful investigation, and one which must not be lightly
passed over. The matter of the authorship of the scheme was the
subject of considerable discussion at an early stage in its history;
and that discussion was not without its value in elucidating some
points of considerable importance, and as affording materials for more
deliberately investigating many claims which have been put forward. It
naturally forms part of our plan, not only to offer a description of
the working of the new class of banks--as will be done in a subsequent
chapter--but to show, as we propose to do here, in a strictly
impartial manner, to whom the country is indebted for the agency now
in operation.[154]
Confining ourselves at present to the origination of the _principle_
of Post Office Banks, without reference to the wonderfully simple and
efficacious scheme afterwards organized, we find that several
different gentlemen had between the years 1850 and 1860, and acting
entirely unknown to each other, matured plans, and in one way or
another actually proposed them, to remedy the deficiencies of the
existing banks, on some such principle as that eventually adopted. To
Mr. Sikes, of Huddersfield, however,--of whose previous labours in the
cause of Savings Bank reform we have already spoken,--belongs the
undoubted merit and honour of having independently originated and
matured a plan of operation more or less equal to the object in view;
of having persevered in the object of bringing the matter prominently
before the public; and of being so fortunate as to have proposed his
scheme at a period when the country possessed in Mr. Gladstone a
statesman of extraordinary versatility and power at the head of its
financial operations, and who has given abundant evidence of his
willingness to grapple with uncommon difficulties where a need is
proved and the principles of a measure are shown to be sound. As we
shall show presently, the same propositions, only differing as to
details, were submitted once, if not twice, to Sir Charles Wood when
Chancellor of the Exchequer, and once more, by a totally different
individual, to Sir George C. Lewis when he held that office. How much,
therefore, the measures subsequently carried are primarily due to Mr.
Gladstone's sharp-sightedness and energy the reader may judge.
Public-domain text, read in full here on John Shaqi.
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