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Savings Banks

The very great importance of an organised and guaranteed system for encouraging the savings of the industrious poor has been all at all times admitted, and long been the study of the legislature to promote. It is, doubtful, however, whether any recent movement on this behalf has equalled in importance, or promised benefit to the extent of the new institution of people's Savings Banks in connexion with the post office; they bid fair to meet all requirements, and are full of suggestive prudence and forethought in the habits of the poor.

We append here a summary of the old Savings Banks to the beginning of the present year, and pass at once to the new Banks, so far as organised up to the time of going to press.

At the end of 1860, the accounts of the old Savings Banks throughout the kingdom stood thus:-

Number of
Amt. of Deposit
includ. Interest
Individual Depositors
£24 14 0
Charitable Institutions
50 3 0
Friendly Societies
163 14 0

26 0 0

SOURCE: The Charities of London, by Samuel Low, Jun., London: Sampson Low, Son,
and Marston, Milton House, Ludgate Hill. 1861.