[Footnote 1 e Yorkshire Penny Bank, a Narrative; with an Introduction by
Edward Akroyd, M.P.]
The business of the bank commenced on the 1st of May, 1859. At the end of the year, when the bank had been in operation seven months, twenty-four branches had been opened. It went on increasing in the number of branches and depositors, and in the amounts deposited. In 1874, about two hundred and fifty branches had been established, and the amount of investments in the names of trustees had reached nearly four hundred thousand pounds.
The Yorkshire Penny Bank does not interfere with the Post Office Savings Bank. It has a special function, that of teaching the young of either sex the habit of saving. It is also convenient to the adult worker as a convenient receptacle for his savings. Many have been induced to save, in consequence of the banks having been brought almost to their very doors. One of the most remarkable facts connected with the history of Penny Banks is the sympathetic influence of juvenile thrift upon paternal recklessness and intemperance. The fact is well worthy the consideration of Temperance advocates, who would probably effect much greater practical good by enabling working people to save their money in the Penny Banks, than by any speech-making agency. Take, for instance, the following illustrations from Mr. Akroyd's narrative:—
An actuary says: "All the juvenile depositors seem inclined to take care of their pence by depositing them in the bank; and the grown-up people have become of the same turn of mind,—rather than carry their loose money to the public-house, or spend it foolishly. Some factory operatives have saved sufficient to buy stock and commence farming."
Another actuary says: "A drunken father being shamed out of his drunkenness by the deposits of his children, now deposits half-a-crown a week in the bank. A notoriously bad man, a collier, became a regular depositor himself, as well as depositing money in the name of his child; all his spare money having previously been spent in drink. From the date of his beginning to save, a perceptible improvement took place in his conduct and character. In another case, two boys prevailed upon their father, also a collier, to allow them to deposit a shilling a week, until they had saved sufficient to buy themselves each a suit of new clothes. Before then, all their father's earnings, as well as their own, had been spent in drink."
An actuary of another branch says he has seen fathers and mothers, who have been drunkards, send their children with money to the bank, He says: "My heart was made to rejoice when I saw a boy, who never had a suit of new clothes in his life, draw out his money, and in less than two hours return well clad, to take his place in the school to practise singing for Good Friday. At the meeting of the Band of Hope on Good Friday, he asked the parents and children to signify by holding up their hands whether or not the bank had been beneficial to them; when many hands were instantly raised,—one poor mother exclaiming, 'I will put up both my hands for my two bairns!'"
"A miner, the father of a family, reclaimed from drunkenness, saved his money in the bank until, with the aid of a loan from a building society, he built two houses at a cost of four hundred pounds. The bank has been to many people what the hive is to the bee—a kind of repository; and when the wintry days of sickness or adversity befall them, they have then the bank to flee to for succour."
A missionary says: "I met a man and his wife about two years ago—both drunk. I got them to sign the pledge, and since then to invest their money in our bank. The pawnbroker had got the greater part of their goods; but I am happy to say that they have got all the articles out of pawn, and can bring a little money almost every week to the bank; and when putting in the money, the man says that it is better than taking it to the public-house. Their home is now a very comfortable one."
A drunkard one night came to the bank, and flinging down a shilling for a start, said, "There! that is the price of six pints of beer; but I promise the landlords that they shan't have as much of my money as they have had." This man has become sober; and continues a regular depositor.
In another bank, a man who had been a reckless and desperate fellow was induced by his wife to deposit a few coppers in the bank. He did so, and his weekly deposits increased; while at the same time his visits to the public-house decreased. In the course of a short time he had a respectable balance to his credit; and this induced him to take a share in a building society, and then a second share. After continuing to pay upon these shares for some time, he purchased a piece of land, upon which he built two houses. One of these he occupies himself, and the other he lets. Besides this, he is now a respectable tradesman, having two or three journeymen and an apprentice working for him. He is sober and steady, and much respected by his friends and neighbours.