The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1878-10-02
THE PENNIES OF THE PEOPLE.
! The Postomcc and School Banks of Eng
lnnd-The Penny Banks OF france and

THE PENNIES OF THE PEOPLE.
The Postomcc and School Banks of Eng
lnnd-The Penny Banks OF france and
Belgium.
In the last number OF CasseWs Mdga-
zine is an interesting article on the
above subject, from which some valua.
BILE hints might be obtained for practical
use in this country. A portion OF the
article is given below.
Penny banks we're introduced into
England in 1857, the first being opened
at Greencck, when 5000 depositors
availed themselves of its advantages IN
the first year. From year to year penny
banks have been on the increase, and
from recent statistics it has been shown
that at the present time progress is in
every way satisfactory. One of the
most pleasing features in connection
with the movement is that SO many Of
these banks avail themselves of the ad-
vantages offered by the postofice say
ings bank rs regards the gratuitous
supply of books and information, and
the investment Of their funds with the
government, thus obtaining q guaran-
tee for their absolute security. The
last report OF the postmaster-general,
published in July, 1877, gives the fol-
| lowing particulars: During 1876 au-
thority was given for 172 penny banks
in various parts Of the United Kingdom
to invest their funds in the postofice
savings bank, and since that time the
progress has been made even more re-
markable, III penny banks having been
authorized during the quarter ending
31st March, 1877, exceeding by forty
one the number during the correspond
ing quarter in 1876. Of these 289 pen
nv banks, eighteen were in board
schools, twenty in Sunday schools and
thirty in other schools, one being in a
poor law union school, under the man.
agement of the master and chaplain OF
the workhouse. Farthing deposits are
received from these pauper children,
and as much as Ell 1Ss was invested on
behalf of the penny bank between April
and December, 1876.
In various parts of the country ener'
getic measures have been taken by
certain societies to bring the subject be-
fore the people: thus the O~xfordshire
Provident knowledge Society has been
employing agents for the purpose OF
establishing penny banks in every vii
lage, school, factory and workshop ID
the county, where they do not already
exist, and has been highly successful in
its operations; and one good feature is
that all the penny banks organized by
| this society are in connection with the
Post Office Savings Banks, and are uI-
! der the management of local trustees.
Another notable instance is that OF the
Liverpool Penny Savings Bank Associa-
ton, formed to sustain and extend the
system eff penny banks in and around
Liverpool, and to promote their eficien-
cy and good management. In the last
report for the year ending goth OF No
vember, 1877, it was shown that IN
seventy. four banks organized by this
association there had been 295, 800 trans
actions during the year, fl4,93l, lis,
1Oi had been deposited, 99,401 LIS ID
withdrawn, and "a, 063 lbs transferred
to the Liverpool Saving Bank in the de-.
positors own names. There was at the
end of the year an aggregate balance Of
s4, S44 9s Id due to %, 759 depositors.
All this is satisfactory, more especially
as the returns show q steady increase in
the business, and prove that habits OF
thrift are becoming permanent.
One interesting feature in the scheme
is that the promoters have secured the
cooperation of the press, and two local
newspapers publish the weekly returns
of the association, and so keep the SUBJ
ject steadily before the public.
Rapid as has been the progress OF the
penuy-bauk movement in England, it is
far behind France and Belgium. In
both those countries school banks have
been instituted with much greater sue
cess than has hitherto crowned the at
tempt made in England, and it is to the
development of these school banks that
the marvellous increase in the total
amount deposited in savings banks gen.
orally is to be attributed. In France
the movement is of very recent origin;
nevertheless, up to December, 1876
penny banks had been introduced into
ffty-three out of e~ighty-two depart
ments, 5000 school banks were estab-
lished, and no fewer than 230, 600 schol-
ars had deposited in excess of the total
limit, and had transferred their account,
to ordinary savings banks.
Time would fail to tell of the penny
bank movement in Belgium, and espe-
cially of that branch CT it relating to
school banks, and it is enough for our
present purpose to quote just afew fig
ures which speak for themselves. Out
1882 children in the schools Of
Client, 3,032 are depositors, and their
savings amount to Gl8,512.
In Belgium an admirable plan is
adopted. Prizes are given by the Gov
eminent to elementary scholars for gen.
eral proficiency, in the shape of deposit
book with q small sum entered therein
to the credit of the recipient. In this
way good conduct is rewarded, and in
addition a practical lesson in thrift is
impaired. In the years 1885. 1851
deposit books were distributed in this
way.
The fact is, the penny-bank movement
in Belgium, is an enthusiasm; men work
in the cause with a hearty good will,
and a zeal as great as ever was bestowed
on the cause of temperance or evangel-
i~zation. One curious feature in con-
nection with their efforts is that a great
number of requests have been made
with a view to carry on the work.
Cost Of Instruction.
The average cost of supervision and
instruction for each pupil in some of the
large cities of the Union. varies to al
interesting degree. In New York and
New Orleans, for instance, it is nearly