Sitting of 8 February 1828

SAVINGS BANKS.
Mr. Humesaid, he wished to call the attention of the House to a subject of considerable importance. He was anxious to move for certain returns, in continuation of former returns, with a view of showing the enormous expense at which Savings Banks were maintained by the public. He was one of the earliest and most active in promoting them, and therefore he could not be actuated by any hostile view in his present proceeding. He must, however, candidly state, that when he promoted the establishment of Savings Banks he did not expect that they would cost the country half a million sterling for their maintenance. He expected that such institutions would pay their own expense, and that the poor man would, by their means, be enabled to invest his ten, twenty, or fifty pounds, with as much security as the rich. He had never contemplated that they were to receive a larger interest than what the public creditor received. It was high time that the subject should be inquired into. Up to the 5th January 1827, the amount paid by the public was 432,080 l. Since the year 1817, government had received, for interest of money invested 2,350,000 l., and had paid for deposits 2,750,000 l. Thus there was a loss of nearly half a million. His object was, to bring before the House the accounts to the 5th January 1828. If these establishments were to be upheld at an expense of 40,000 l. or 50,000 l. a year, he would rather the government had the superintendence of them, that there might be some responsibility or check. He would move, "That there be laid before the House an Account of the gross amount of all sums, received and paid by the Commissioners for the Reduction of the National Debt, on account

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of Banks for Savings (including Friendly Societies), in Great Britain and Ireland, from 20th November, 1826, to 5th January, 1828."—Ordered.