HOARDING MONEY.
There can be no doubt too that "hoarding" coin goes on to a considerable extent, and greatly augments the scarcity, and consequently the value of the precious metals. Even the old practice of "making a stocking" is by no means given up in rural districts. We ourselves, but a few days back, personally witnessed an old crone, the wife of a small, and apparently poor farmer, in a wild pastoral district, bring no less than three hundred sovereigns in a bag to a neighbouring attorney, to be placed by him in security: her treasure having accumulated till she was afraid to keep it longer at home. Such examples are by no means so rare as may be imagined. The failures of so many country banks in 1825 destroyed the confidence of country people in the bank-notes of the present banks, and causes their preference of gold. The failure of many attorneys, as well as of those country banks which received and gave interest on deposits, and (with the exception of the savings banks, which are very limited in the amount of the deposits they allow) the total absence, in the rural districts of England, of any safe and accessible depositaries for the savings of the economical, such as the invaluable Scotch banks, have tended most injuriously to discourage economy; and where that principle was strongly ingrafted, have converted it into a practice of hoarding,—have caused that to stagnate in unprofitable masses which, spread through proper channels, would have stimulated new industry and new accumulations, and added both to the wealth of the owner, and to the general stock.—Ibid.