Simple as are the words, they shed light into Mr. Sikes's mind, and became the keynote and the test to which he brought the various views and theories which he had previously met with. Doles and charities, though founded frequently on the most benevolent motives, were too often deteriorating to their recipients. On the other hand, if self-reliance and self-help—the columns of true majesty in man—could only be made characteristics of the working classes generally, nothing could retard their onward and upward progress. Mr. Sikes observed that until the working classes had more of the money power in their hands, they would still be periodically in poverty and distress. He saw that if provident habits could only he generally pursued by them, the face of society would immediately be transformed; and he resolved, in so far as lay in his power, to give every aid to this good work.
In 1850, Savings Banks were only open a very few hours in each week. In Huddersfield, where more than £400,000 a year was paid in wages, the savings bank, after having been established over thirty years, had only accumulated £74,332. In 1850, Mr. Sikes addressed an anonymous letter to the editors of the Leeds Mercury, to which, by their request, he afterwards attached his name. In that letter he recommended the formation of Penny Savings Banks in connection with Mechanics' and similar institutes. In simple words, but with many telling facts, he showed how the young men and the young women of the working classes were growing up deprived of almost every opportunity of forming habits of thrift, and of becoming depositors in savings hanks.
The letter was received with general approbation. The committee of the Yorkshire Union of Mechanics' Institutes gave their cordial sanction to it; and Penny Banks were established in connection with nearly every Mechanics' Institute in Yorkshire. Mr. Sikes personally conducted one at Huddersfield; and down to the present time, it has received and repaid about thirty thousand pounds. In fact, the working people of Huddersfield, doubtless owing in a great measure to the practical example of Mr. Sikes,—have become most provident and thrifty,—the deposits in their savings bank having increased from seventy-four thousand pounds in 1850, to three hundred and thirty thousand pounds in 1874.
In 1854, Mr. Sikes published his excellent pamphlet on "Good Times, or the Savings Bank and the Fireside," to which we have already referred. The success which it met with induced him to give his attention to the subject of savings banks generally. He was surprised to find that they were so utterly inadequate to meet the requirements of the country. He sought an interview with Sir Cornewall Lewis, then Chancellor of the Exchequer, and brought the subject under his consideration. The Chancellor requested Mr. Sikes to embody his views in a letter, and in the course of a few months there appeared a pamphlet addressed to Sir Cornewall Lewis, entitled "Savings Banks Reforms." Mr. Sikes insisted on the Government guarantee being given for deposits made in Savings Banks; but this was refused.
Mr. Sikes next proceeded to ventilate the question of Post Office Savings Banks. He was disappointed that no measure for the improvement of Savings Banks had been adopted by Parliament. The day appeared very distant when his cherished wish would be realized,—that the Savings Bank should really become the Bank of the People. But the darkest hour precedes the dawn. When he had almost given up the notion of improving the existing Savings Banks, the idea suddenly struck him that in the money-order office there was the very organization which might be made the basis of a popular Savings Bank.
He communicated his plan in a letter to his friend Mr. Baines, then member for Leeds. The plan was submitted to Sir Rowland Hill, who approved of the suggestions, and considered the scheme "practicable so far as the Post Office was concerned." The plan was then brought under the notice of Mr. Gladstone, who afterwards carried the Bill through Parliament for the establishment of Post Office Savings Banks throughout the country.
To use the words of Mr. Sikes himself,—when predicting at the Social Science Association the success of the Post Office Savings Banks,—"Should the plan be carried out, it will soon be doing a glorious work. Wherever a Bank is opened and deposits received, self-reliance will to some extent be aroused, and, with many, a nobler life will be begun. They will gradually discern how ruthless an enemy is improvidence to working men; and how truly his friends are economy and forethought. Under their guidance, household purchases could be made on the most favourable terms—for cash; any wished-for house taken at the lowest rent for punctual payment; and the home enriched with comforts until it is enjoyed and prized by all. From such firesides go forth those inheriting the right spirit,—loving industry, loving thrift, and loving home. Emulous of a good example, they in their day and generation would nobly endeavour to lay by a portion of their income. Many a hard winter and many a slack time would be comfortably got over by drawing on the little fund, to be again replenished in better days. And if the plan were adopted, remembering that it would virtually bring the Savings Bank within less than an hour's walk of the fireside of every working man in the United Kingdom, I trust that it is not taking too sanguine a view to anticipate that it would render aid in ultimately winning over the rank and file of the industrial classes of the kingdom to those habits of forethought and self-denial which bring enduring reward to the individual, and materially add to the safety of the State."
The working classes have not yet, however, taken full advantage of the facilities for saving afforded them by the Post Office Savings Banks. Take Birmingham for instance, where the artizans are among the best-paid workmen of the town. In the list of depositors in the Post Office Savings Banks, we find that the artizans rank after the domestic servants, after the married and unmarried women, and after the miners. They only constitute about one-tenth of the entire depositors, though it is possible that they may deposit their savings in some other investments.
Then take the returns for the entire United Kingdom. Out of every ten thousand depositors in the Post Office Savings Banks, we find that the domestic servants are again the first; next, the women, married and single; next, persons of "no occupation" and "occupations not given;" next, the artizans, and after them, the labourers, miners, tradesmen, soldiers and sailors, clerks, milliners and dressmakers, professional men, and public officials, in the order stated. We must, however, regard the institution as still too young to have fully taken root. We believe that the living generation must pass away before the full fruits of the Post Office Savings Banks can be gathered in.
The inhabitants of Preston have exhibited a strong disposition to save their earnings during the last few years,—more especially since the conclusion of the last great strike. There is no town in England, excepting perhaps Huddersfield, where the people have proved themselves so provident and so thrifty. Fifty years ago, only one person in thirty of the population of Preston deposited money in the Savings Bank; twenty years ago, the depositors increased to one in eleven; and last year they had increased to one in five. In 1834, the sum of a hundred and sixty-five thousand pounds had been accumulated in the Savings Bank by 5,942 depositors; and in 1874, four hundred and seventy-two thousand pounds had been accumulated by 14,792 depositors, out of a total population of 85,428. Is there any other town or city that can show a more satisfactory result of the teaching, the experience, and the prosperity of the last twenty years?