The Sun.
London, England, 1818-03-27 00:00:00

FRIDAY, MARL H 27, 1818.

PUBLICATIONS.

This Day were published,
•In Tao Volumes, Octavo, price 11. Is. in boards,
OBSERVATIONS nn the STATE, of IRE-
LAND, principally directed to its Agriculture and
Rural Population ; in a Series of Letters, written on a Tour
through that Country.

This Day were published,
In Imperial Quarto, price el. halr-bound,

LLUSTRAT I ONS a'theISLAND 01
STAFFA, in a Series of Views, accompanied by a Topo.
graphical and Geological Description.
By WILLIAM DANIELL, A.R. A.

Thee Views were introduced in the Voyage Round
Great ,Britain."., Rad are. now published in a separate form,
with the'rerpiisite exilairatnilittna'ttei, for the convenience of
the Geologist, and the general loVer of Nature, who may have
felt an exclusive interest in the part of that Work which re-
lates to so celehrated a phenomenon.
Printed for Longma'. Hurst, Rees, Orme, and Brown,
Paternoster-row; and W. Daniell, Cleveland-street, Fitzroy-
square.

sits.

LITERARY REVIEW.

REASONS for the ESTABLISHMENT, and SUGGESTIONS
for the FORMATION and MANAGEMENT, of BANKS
for SAVINGS; agreeably to the Act of Parliament lately
passed for.tht EnCoaragewent and Protection of such In-
stitutions; with ag-Appendi.x, containing. a Set of approved
Rules and R.gulations for the Formation of Banks for
Savings, together with Specimens of the Forms of Ac-
counting,. &c.. &c. By JOHN BOWLES, Esq.—The
. Fourth Edition, with Additions,,J.,M.B4cii.tauspN,.2;.i,
Cornhill; and W. Mr.Yt.tt, Bath.

We regret that we have been prevented by more
pressing matter from resuming our notice of this•
work. The Author is ton well known for poli-
tical integrity, sound knowledge, and extensive

experience, to require any eulogium from us.—
But knowing his character well, and having tle-
rived much inurtietion from his various publica-
_
?ions ;-knowing, too, ,that he has always the in-
terests of humanity, as well as the honour and
prosperity of his Country, at heart, we deem it a

duty to state our conviction
.that his .country is
highly indebted to him for his strenuous, perse.
vering, pd able efforts to promote her welfare.—
Theinstitution,of SAVINGS' BANKS does honour to
the present generation, by which it appears to be
warmly supported, aud tram which we sanguinely
anticipate the most beneficial consequences. The
Author of this Work has particularly directed his
attention to a subject so interesting.to the vom
mtmkty, and his arguments in support of these
laudable Institutions, and indeed upon alt sub-;
jects, carry force and conviction to,everyhumane
bean, and every judicious mind. We rejoice
that this Tract has reached a Fourth Edition, and
we sincerely hope that not stop there. The
part which we now extract may be practically
useful, by explaining ,the very beneficial operation
of the late Act of Parliament respecting SAVINGS'
BANKS, in authorising the investment of the money
-deposited in those Banks in• Government Deben-
tures,. and by pointing out the advantages attend-
_
ing-the niode.of investment by Debentures. This
explanation will serve to. remove all. doubts, and
must encourage every class cif the community in

endeavouring to employ whatever they can re-
spectively'spare, with a full confidence that their
property is safe, and will be employed to

advantage.

The Legislature has already borne testimony
o the high -importance of Savings' Banks, by
passing a Law for.their encouragement and pro-
tection. The main . object of this Law is to
enable the conductors of these Institutions to re-
turn, at all times., the exact amount of the money
there -deposited, and 'to allow to the depositors a
fixed rate of interest. In ordr -duly to estimate
the provisions -which the Legislature has made
for this purpose; it is necessary to bear in •mind
that permanence is an essential-quality .of , these
Institutions. Their Olivet is to make provision
for the future,—for the families'of those who now
are,single,—for the old age of-.those who-now are
young—for generations yet to come: They must,
therefore, be, formed for duration, for which Pur-
pose care must be taken to make them proof
against contingencies, and to avoid subjecting
them to engagements, which, in the- course a-
llure, it may become impoSsible to fidfil.
" The engagements essential to every such In-
stitutions are of two kinds. They relate to the
return of deposits•and the allowance of interest.
It is evident that the permanent practicability of
the engagements which may be entered into, in
these respects, must depend upon the manner in
which the capital of Savings' Banks is invested.
Previously to the- passing of the late Act, the
public funds afforded, in this country, the only
efficient diode of in-vesting the money deposited iu
such Banks. But investments in 'these funds are
liable to 'great fluctuations, both as to the value
of the principal and the rate of interest. The
capital stock thereby purchased may be greatly
and suddenly depreciated, not only by war, hut by
rumours of War; whilst, on the other hand, it -is
the natural effect of peace, by raising its value, to
reduce, in the same proportion, the rate of in-
terest it' affords upon • any new purchase. It is
evident, therefore, that the mode of investment in
the public funds cannot authorise • the conductors
of Savings'. Banks to enter into engagements to
return the exact amount of deposits; and to allow
a fixed rate of interest. The_recurrence, 'nay,
even the apprehension of war, may defeat the
former of these engagements, and the continuance
of peace may render the latter impracticable.—
Such engagements are;however, most congenial
with the nature and design of Savings' Banks, and
best calculated to inspire that :confidence which
is the life and soul of these Institutions. The la-
bouring classes do •not understand the fluctuations
which are incessantly taking place in
.tlie value of
funded property. They could never be brought
to set the ehance of a rise against that of a fall,
in- the marketable price of their • stock.. 'They
would look • only to the certainty of being able,
whenever they please, to withdraw the whole of
the money deposited by them, and nothing could
reconcile them to aloss of any part of their depo-
Stich a loss would probably be fatal to their