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
Following the fortunes of this notice, we find that it arrives in
proper course at the chief Savings Bank. The signature attached to it
is there compared with the signature of the original declaration, and
if, on comparison, there be no grounds for suspecting anything amiss,
the notice is sent to the ledger keeper in charge of the account of
the particular depositor. If it be found that he has a proper balance
in the bank to meet his claim upon it, a warrant for payment is at
once prepared. This warrant is an order to the postmaster named to pay
the amount wanted; and after the amount of the warrant has been
entered in the ledger, and checked by a superior officer, who
certifies its correctness, it is at once sent off by post to the
address furnished by the person withdrawing. At the same time, and by
an admirable system of manifold writing,--suggested by Mr. West of the
Mail Office for the use of other branches of the Post Office, and
which has been with great advantage applied to Savings Bank
operations,--the postmaster himself is furnished in fac-simile with a
copy of the warrant sent to him in the nature of an advice.
When the postmaster is applied to for the money in question he
carefully compares the warrant with the advice to pay, in the same way
as he deals with the familiar money order; he also compares the
signature to the receipt on the warrant with the signature in the
depositor's book; and if he be satisfied with the scrutiny, he pays
the money, entering the transaction in the withdrawal part of the
depositor's book, and signing and stamping the book accordingly.[189]
When the paid warrants are returned to the chief office, and when the
postmaster sends up an account of the day's transactions, the accounts
and entries are checked in the chief Money Order Office and the chief
Savings Bank, in much the same way as described in the case of
deposits; the whole being arranged to provide an admirable system of
check in which two branches of the Post Office,--viz., the chief Money
Order Office and the Receiver and Accountant-General's Office,--as
well as the chief Savings Bank, are immediately concerned.[190]
Public-domain text, read in full here on John Shaqi.
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