The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1878-11-30 00:00:00

SATURDAY, NOV. 30, 1878.

pation ; (3) that the higher deposits were probably
placed with us because the Post Office savings-banks
are not open on Saturday night.
The principle of giving no interest works out in
many practical directions :-1. It saves all trouble in
deciding as to who may deposit or how much may be
,deposited. As we incur no risk, and confer no favour,
we cannot be wrong in taking any one's money, to any
extent. 2. It lessens expenses to a minimum, and in
time will make the bank self-supporting. 3. It in no
way pauperizes the people, but cultivates a feeling of
honest independence. Our depositors are taught not
to look for charitable subsidies, but how much can be
done by the exercise of their own prudence and self-
denial. Nor does this at all diminish a right feeling
of gratitude to the agency which has helped them to
be prudent. 1 have but lately seen a woman burst
into tears at the pay-table when her gathered pence
had grown to a sum sufficient to pay her quarter's
rent, and express as much thankfulness as if we had
actually given her the money ourselves.
My letter has already outgrown its intended dimen-
sions, and yet I should like to add a few more scraps
of detail. The bank is efficered by-1, three trustees,
whose names are printed, and in whose names all
moneys are paid into a Government saving-bank; 2,
an honorary treasurer ; 3, a cashier, who is paid is.
per night; and 4, four voluntary helpers, who attend
in rotation. Every transaction is entered in duplicate,
on a simple and ingenious plan, in which we had the
advice of the actuary of our City Savings Bank. Our
rules are studiously few and plain. We find it also
desirable to circulate from time to time cheap hand-
bills about our bank, and so push our trade a little. I
enclose the last issued for your inspection.

I may add, finally, that the poor of this city are as
poor as airy class of labouring English peor,le known
to me, and if a savings-bank of this kind aucceeds here
I think it must succeed anywhere. The success of
our own bank has already stimulated the institution of
a similir bank in another part of the city, and I should
greatly rejoice to hear that its principles were being
adopted elsewhere.—l am, Sir, yours obediently, W.
E. LITTLEWOOD, Vicar of St. James's, Bath.

Sir,—We can endorse the Rev. W. E. Littlewood's
opinion on the value of Penny Savings banks. The
National Penny Bank (for convenience made into a
limited company) has been at work in London a little
over three years. In that time, in our 75 branches, we
have had more than a million dep,sits, 127,000 persons
have opened accounts, and we hold nearly £70,000.
Each week we have about 12,000 deposits, more than
half of which are less than is. in amount.

Our 12 main branches are open every evening;
others once or twice a week, and we have about 30 in
schools. Experience shows us that thrift, like many
other qualities, is a habit depending much on the
facilities which exist for its exercise. We are con-
vinced that one at least of the best ways of promoting
thrift and temperance is for a few more of the promi-
nent corners of the main thoroughfares to be attrac-
tive penny banks.—Your obedient servant, GEORGE
C. T. BARTLEY, the National Penny Bank (Limited),
269 and 270, Oxford-street, London.