widely extended, I have endeavoured to bring within the compass of a few pages all the arguments which were suggested by my own reflections on the subject, or which I have been enabled to collect from the labors of others. Having done this, with a view of showing the great importance of Savings Banks as General Institutions, I shall now resume the subject of that plan which I have already proposed for particular adoption...

I have observed before, that the laborer not being able to deposit his savings at the precise time when he is paid his wages, is left exposed to the temptation of extravagance; and the writer of an excellent tract1 on the subject is of opinion, that it were highly desirable "to render saving convenient, spending inconvenient. If," says he, "the laboring population could be induced to carry, at the time of receipt, as much of their wages as they could spare to a place of deposit, this single circumstance would be a prodigious security for saving." Now the plan I have recommended affords a great body of the laboring classes an opportunity of doing this; the Bank, as I have said, is brought to them on the spot, and the temptation to spend must by such means be completely removed.

In addition to this great advantage, another most important one is, that a greater rate of interest must necessarily be allowed; for the establishments to which the plan is applicable having clerks, offices, &c. a very small deduction from the interest allowed by government, which is 4l. 11s. 3d. per cent., will be sufficient to defray all the expenses; and in a few years it will not amount to more than 2s. or Ss. per cent., or perhaps less. Thus a boon will be most deservedly bestowed on the sober and industrious man, who carefully abstains from intemperance, in order that he may raise a fund to set himself and his family above a state of humiliating dependence on parochial relief..

I have further to observe, with respect to junior clerks in public offices, whose habits from inesperience are not always economical, but who in general are youths of good character, that it is every way desirable they should have some profitable depository to resort to with the surplus of their salaries. These youths being of a rank in life superior to the generality of those persons who avail themselves of the advantages which the Savings Banks offer, are dissuaded by a false pride from following their example; and hence those occasional sums which might accumulate to their future advantage, are either suffered to remain unproductive in the desk, or to vanish with the first inducement that tempts the possessor. Twenty or thirty pounds they think too small a sum to take to a

Stock Broker, and keeping it by them perhaps with an intention of adding to it, their prudent purpose is too often defeated by some seductive persuasion which they have not fortitude to resist.

In order as much as possible to accommodate the proposed measure to the feelings of clerks in general, I would suggest that there should be in every establishment a book kept purposely for themselves, and a person exclusively appointed to receive their deposits, either in the name of the depositor, or by a number; and the person appointed shall, if deemed expedient, be sworn to secrecy. But I am persuaded that the preposterous delicacy which would require these cautious measures, would very soon give place to more rational sentiments; for they must reflect that it will always be a recommendation to them in the eyes of their superiors to be seen laying the foundation of their future comfort and independence by a provident economy of their present resources. The young man who is known to be thoughtless or prodigal in his expenditure will never secure his advancement in life with so much certainty, as he who is reputed prudent and frugal in the disposition of his means. The one deprives himself of that confidence. which is so necessary to his uprise, the other is sure to invite it.

It is much to be feared that persons, who from their independent circumstances, were never meant to be included among those classes for whose benefit Savings Banks were established, have notwithstanding, availed themselves of them in order to serve the purposes of avarice. But in the plan I have submitted, no abuse of this kind can possibly exist; for every man's income being known and defined, a line of limitation can easily be drawn. I should think, however, that yearly incomes from 80l. to 500l. would not be thought too high to participate in the advantages of these depositories. Indeed my opinion is, that persons with still larger incomes ought to be admitted to the same participation, for these are generally married, and very frequently find their means inadequate to that state of respectability in which they are obliged to live; while it would be of inestimable advantage to such of them as could save 201. or 301. yearly, to have an opportunity of laying it up as an increasing provision for their families.

But should it be deemed expedient to exclude the general classes of clerks in public offices from the provisions of the Act of Parliament, I would nevertheless advise a Savings Bank in every large establishment, and the vesting the money in the Funds. The object of a few shillings per cent. interest is but trifling, compared with the advantage of being able to make the deposit on the very spot where the income is paid, whether that deposit be one pound or twenty, or whether it be lodged weekly, monthly, or quarterly. Nor would the benefits of this system apply only to clerks in

large establishments, it might be extended with proportional advantage to those in smaller ones; as for instance, to all the clerks in the several Fire Offices in London. Let there be, as it were, an Union Bank formed for the whole of them, in some central office, where a common treasurer shall regularly attend, to receive every week, month, or quarter, the aggregate amount of the deposits which were previously paid in at their respective offices. This amount, as soon as it is transmitted to him, the treasurer shall invest, under the provisions of the Act, in government debentures. Other associations of this nature might be formed upon the same principle, either in London or any other commercial city or town in the kingdom, and would be of the most material service to a body of young men who stand so much in need of such a depository as I have suggested. To clerks in the Inns of Court the principle will apply most conveniently, from the circumstance of their being collected together in a comparatively small space; and I have been requested by some gentlemen high in the profession, to call the attention of that particular class to the observations which I now submit to the public.

It generally happens that a man is rather sanguine as to the probable success of any measure which originates with himself, and I do certainly entertain the strongest hopes with regard to the plan of which I have thus given the necessary details. Such hopes, however, are not induced by any vain ambition on my part, of being reputed a successful theorist, but result from a serious and attentive consideration of the subject. I am satisfied in having given a new direction to the principle on which these benevolent institutions are founded, and the more I deliberate upon the plan in question, the more am I convinced of its beneficial tendency.

-Since this Tract has been written, the plan has been adopted by the East India Company, and in five months upwards of 4,0001. have been deposited by the junior clerks, laborers, &c. &c.

END OF VOL. XIII.