The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1874-01-03 00:00:00

POST-OFFICE SAVINGS-BANKS.

On Tuesday afternoon a depntation, appointed
under the auspices of the Society of Arts, waited upon
Mr. Lyon Playfair at the new Poet Office buildings
in St. Martin's-le Grand, with the view of bringing to
the consideration of the Government certain proposed
alterations in the rules of the Government Posteoffice
saving banks. Tee deputation consisted of Sir Daniel
Cooper, Mr. it. Pawlinson, C.B. Mr. E. C. Tufnell,
Mr. G. C. T. Bartley, and Mr. P. le Neve Foster, the
aecretary.
- • •
_ . . .

Sir D. Cooper briefly opened the business, and said
they came there to bring tinder the notice of the
Government a memorial of the Society of Arts. Mr.
11. C. T. Bartley, the hon. sec. of the Provident
Knowledge Society, then read a somewhat lengthy
memorial, which set forth the views taken by
the deputation. The chief points to which at.
tention was drawn were the following :-1. The
opening of the Post-office savinge-banks in the
evening, particularly on Fridays and Saturdays.
2. The abolition of the restriction that whole ehillings
alone can be paid into Post-office savingtbanke. 3.
Die reduction of the reiniinum deposit now fired at
one shilling. 4. The abolition of the following ruler :
—a. That no depositor may pay in more than £3O in
any one year. b. That no depositor may have more
than £l5O, exclusive of interest, in the Poet-office
savings-hank. c. That no depositor in the Pootoffico
savings bank may be a depositor in any other savings.
bank. 5. The greater ease and readiness of with-
drawing money, both by depositors and after the
death of the depositors. 6. The introduction of
some plan of providing in all smali villages where
a post-office is established a Post-office savings-bank,
to be opened periodically. That, inasmuch as it Is
believed that any aheration in the Pootoffice savl
cc-
hank rule:: would involve the ob'aining of an Ac, of
Parliament, the Society would also strongly urge that
any such Act should include a slight alteration in the
Post-office Deferred Annuities Regulations. The al-
teration required is that the resolution which prohibits
any deferred annuity from being granted, in the first
instance, under £4, be cancelled, and that any one be
allowed to commence with purchasing a El deferred
annuity on the returnable scale, 114 he can at preaent
do on the non-rettirnable. The regulation as it at pre-
sent stands, as explained in the memorandum, renders
this branch of the excellen; syetem of defirred annuities
a'most useless to the industrial class. The speaker re-
ferred to the various points at issue, and urged cogent '
reasons for the adoption of the suggestions offered. In
answer to a question from Mr. Poayfair, he said the
minimum amount to be paid in night be fixed at 3d., ,
although Id. was desirable. As to the maximum in
one year, he thought it should not be less than
£lOO, and the grind maximum £5OO. There was
no mason either why interest eh .uld cease, as
it now did when the amount has reached £2OO.
The Postmaster General, in reply, said he need
hardly say that he thought the Society of Arts and the
Provident Knowledge Society, which Mr. Bartley re-
presented, could scarcely take up la or ire important
subject than the exten.don of the Poet-office savings.
banks, which had already exercised so much influence
upon the thrift of the people, and which, if properly
worked—and they were now very well worked -were
likely to have a very considerable influence upon the
character of the working classes. They had laid before
him some very important proposals, which would re-
quire to be considered with the greatest care before he
giuld in any way commit the Government to their
adoption. This rasa the case with regard to the proposals
to reduce the amount which could be deposited, and
which now stood at Is., to the sum of 3d , or even Id.
Other proposals made inv iced a very large considera.
ticti as to what were the duties of the Poet Office.
Sums persons thought that the duty of the Post Office
was simply to give facilities to the public and not to
obtain revenue for the State. They were aware that
the Treasury had long held that the Post Office was
a legitimate means of revenue to the State, and
that, therefore, all increasing expenditure should be
carefully guarded against. He quite agreed with the
Treasury on that point, and he thought they should do
all they could to guard against Increased expei.diture,
which would tend to make the Port Office other than a
self supporting institution. The oil eaviegtbaeks were
a loss to the State, hut the new Post-office savi. gs-
banks had been self.supporthig, and the &menet of meets
over liabilities was rather mere than £600,000 at pre- I
sent. He thought it was very desirable the Post
Office should remain a self-supporting institution.
Every suluscription of a dep .eitor, whether he put in
or drew out money, cost the State very mute:-
supposing a depositor put In if. rand drew out ld.,
that would cost thg State Is. ; and if there were n
deposits of a much larger amount to compensate for
the loss it would be perfectly impirsible to decrease
largo ly the amount of deposit and carry on the
savings banks on the self-supporting principle. They
doutitires foresaw that when they proposed the ex'
tension of the sums of £3O and £l5O. The money
from which the Poet Office obtained the expense
funds was the difference between the interest
they paid and that which the State received for in-
vestieg the money of the depo.itor. Then fore, if
they increased the money to be put in by the depo-
eitor, they would get a larger amount of revenue, and
perhaps that would meet the case somewhat. But per-
haps there would be a great d« clef opposition from the
banking interest, although that would not prove that
the alteration was not useful. He thought the object
f he Post office savings-hanks and that of all other
banks was different. The objsct of the Port office
savings-banks was to produce a show and gradual
accumulation et the savings of the poor. The pro-
posal they made was one that required considerable
consideration, and he was not then prepared to give
them au answer. With regard to extending the faci-
lities In small villages, that was a point on which
he agreed with them, but to what extent he
could root say. They extended about one per day at
present, but he would take the matter into his earnest
consideration as soon as possible. With regard to the
opening of banks on Frieley and Saturday eveeingr, he
thought it was done at present in cone places, but with
what success he could not say. He thought that, whole
he could not commit himself to any definite opiuion
on the larger views, he could agree with them that it
was extremely desirable that the banks should he ex.
tended as far as possible, to facilitate the savings of the
poor. He could only promise that the points they had
brought before him would receive his attention and that
of the Officers of the Department, and, after be our con.
side red, he would brin4 those of a me re practical char«
acter to the foovernmeut With regard to the inter“t
easing at £2OO, he did not think there was much
ground for the rule, and that also, if there war any
change, would receive favourable consideration.
The deputation then retired.