Her Majesty's Mails: An Historical and Descriptive Account of the British Post-OfficeLewins, William
History
Her Majesty's Mails: An Historical and Descriptive Account of the British Post-Office
Lewins, William
Postal service -- Great Britain
The first savings' banks in connexion with the post-offices of the
country were established on the 16th of September, 1861. A limited
number was first organized, and in places where no accommodation of the
kind had ever been afforded. The extension of the scheme to Ireland and
Scotland was effected on the 3d and 17th of February respectively.
Nearly all the 2,879 money-order offices of the United Kingdom are now
post-office savings' banks. These banks are in regular working order,
2,000, in round numbers, existing in England and Wales, 450 in Ireland,
and 400 in Scotland. Many of our largest towns have several banks. Thus,
at the present time, January, 1864, we find five banks in Edinburgh,
five in Glasgow, twelve in Dublin, ten in Liverpool, sixteen in
Manchester, ten in Birmingham, and seven in Bristol. Only seventy of
the entire number of new banks have failed to obtain depositors--a fact
which sufficiently proves that the advantages offered by the Post-Office
establishment are understood and appreciated throughout the kingdom. Up
to the end of 1863, the total number of depositors in new banks had been
367,000, of which number no fewer than 307,000 then held accounts. At
present (March, 1864), the weekly deposits amount, in the aggregate, to
40,000_l._, while the withdrawals are no more than one-third of that
sum. The total amount intrusted to the post-office banks since their
first opening has been 4,702,000_l._, of which sum no less than
3,263,000_l._ remain to the credit of depositors. The most gratifying
fact in connexion with the new banks is, that they show a much larger
proportion of small depositors than the old savings' banks have been
able to attract, the average amount of a deposit being 3_l._ 1_s._ 9_d._
in the new, against 4_l._ 6_s._ 5_d._ in the old class of banks.
Between fifty and sixty old savings' banks, including the Birmingham
Bank, closed their accounts during the last year (1863), great part of
the business of each being transferred to the new banks. A sum amounting
to over 500,000_l._ has already been transferred from these banks to the
Post-Office by means of transfer certificates; whilst additional sums,
the amount of which cannot be correctly ascertained, have been withdrawn
from the old and paid into the post-office banks in cash.
With a view to facilitate the proceedings of the trustees of banks which
have been or may hereafter be closed, an Act of Parliament was passed in
the last session which will doubtless have the effect of winding up the
affairs of many of the smaller banks under the old plan, and increasing
the work of those on the new.
Public-domain text, read in full here on John Shaqi.
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