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
The first step which appears to have been taken in regard to the
scheme of Mr. Chetwynd was to refer it to Mr. Scudamore, who then
filled the office of Receiver and Accountant-General,--an office the
holder of which is at the head of the financial operations of the Post
Office. After going carefully over the plan which had been submitted
to him, he came to the conclusion that it was the best of those which
had as yet been framed; "that it will be productive of very great
advantages to the working classes, and that it will be self-supporting."
He also characterised it as exceedingly simple, and thought, that if
the execution of the plan were difficult, that difficulty would be due
to the amount rather than to the nature of the business to be
transacted. In conjunction with the projector, Mr. Scudamore then
proposed some important modifications and additions to the plan,[167]
and proceeded to enter fully into arguments and calculations to show
that it would offer the largest amount of convenience to the public,
and be at the same time the least expensive mode of operations so far
as the State was concerned. Into these and other purely technical
matters there is no need that we should further enter, beyond saying
that, so recommended, the scheme was warmly approved by the
Postmaster-General; and in a month from the date of Mr. Scudamore's
report, it fell into the hands of Mr. Gladstone, and became, as it
were, the property of the nation. How the Legislature dealt with it
will fittingly bring this chapter to a close.
Public-domain text, read in full here on John Shaqi.
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