[160] The following were the details of the reverend gentleman's scheme, of the authenticity of which we have fully convinced ourselves:—
1. That deposits from 1s. to 10l. be received daily at every Post Office in the United Kingdom at which Post Office Orders are now issued, and the amount forwarded daily to the National Savings Bank, London.
2. That the Postmaster, upon receiving a deposit, do issue a document of acknowledgment to the depositor, with printed instructions attached thereto, directing the depositor to write to the London office, if a receipt be not received by him through the Post from the London office within —— days.
The following advantages would follow:—
1. Universality of operation, by which the Savings Bank system would be forthwith placed within the reach of every member of the community.
2. Cheapness of management.—All rents for offices, and annual salaries to clerks, avoided. Postmasters who are now enabled to issue Post Office Orders, are already admitted to have character sufficient to be entrusted with the receipt of money, which by this system would never exceed one day's deposits.
3. The only expenses of management would be, (1) the London office, which ought to be as near the General Post Office as possible; and (2) some small payment to Postmasters upon each deposit. In large towns, it may in time be necessary to employ an additional clerk in the Post Office, but in these cases the payment on each deposit would suffice to enable the Postmaster to keep such clerk.
4. It would not interfere with the existing Savings Banks,—leaving it to the public to adopt either the old or the new system as they please. By this means the old system would probably be superseded by slow degrees, and without hardship or inconvenience to any one.
Geo. Hans Hamilton.
[161] Like Mr. Hamilton, Mr. Bullar has subsequently proposed a plan for giving increased facilities in one direction to depositors, which will be referred to at the proper place.