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
More from the way in which this bill was introduced and the
circumstances attending the Committee of Inquiry, than from any
decided opposition to the Government proposals, much agitation
prevailed among Savings Bank officials, which was ultimately made to
extend to depositors.[78] The latter were led to believe that the
proposed legislation would in some way be inimical to their interests,
and petitions were got up, praying that no further Acts should be
passed until a full inquiry was made into every part of the Savings
Bank system. _Sir Henry Willoughby_, who for some years before this
time, and till his death, took much interest in this and cognate
questions, again presided at a meeting of Savings Bank managers in
London about this time, and helped them to concert measures of
opposition. Before speaking in Parliament on the introduction of the
bill under consideration, he presented two large petitions, signed by
79,000 depositors in Savings Banks, praying that Government would
cease their interference with these institutions. This gentleman then
referred to the quietness with which Government had introduced such an
important bill, "not having given such a notice as was invariably
given even with respect to the commonest turnpike road." And the
quietness was a mistake of no ordinary moment. Had the details of the
bill now introduced been understood by the country, there might have
been opposition from managers of Savings Banks, but there could not
well have been so much dissatisfaction expressed by the Press, or by
the body of depositors, whose interest every clause of the bill was
meant to conserve. Sir Henry Willoughby also on this occasion gave
utterance to the feeling which was in many other minds, and which had
led to the opposition then manifested, by alluding to "the impression
which had got abroad and which he believed was perfectly true, that
the money of depositors was used for other purposes by the Government
than those that related to the Savings Banks." Whether the money was
used advantageously or not he would not say, for that was not the
question. _Colonel Thompson_ spoke strongly of the erroneous
impression that everybody had been in about the Savings Banks having
full Government security for their money; so strongly, indeed, that in
another place we shall make further allusion to him. The bitterest
opponent, however, which the Chancellor met with on this occasion was
the leader of the Opposition in the House. _Lord George Bentinck_ felt
sure that the bill was one which its mover (Sir Charles Wood) did not
understand. After going into the details of the measure, and
endeavouring to prove that the examination of depositors' books could
not be accomplished in the larger banks every year,[79] and that the
smaller concerns could not afford to pay for auditors out of the small
surplus of interest which went to pay expenses, Lord George added,
"Surely a Government which had proposed so much and done so little,
Public-domain text, read in full here on John Shaqi.
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