The greater part of those who have talked and written about savings banks have left the principle of population altogether out of their view. They have, therefore, left out of their view that circumstance on which the condition of the most numerous class of mankind radically, and irremediably, and almost wholly depends. Of course, their observations and conclusions are of little importance.
Others, whose minds are philosophical enough to perceive the influence of the principle of population upon the condition of the great bulk of mankind, are of opinion, that savings banks will have a salutary effect upon the principle of and amelio rate the condition of mankind, by lessening the ra pidity with which they multiply. This ••is a specu lation of the deepest interest. If this be an effect of savings banks, they will, indeed, deserve the attention and patronage of the philanthropist and the sage.
The following is the mode in which the authors of this opinion believe that the happy effects which they anticipate will take place. The means of pro fiting by the reserve of a portion of their earnings, which savings banks will provide for the unmarried part of the labouring people, will give them, it is sup posed, a taste for accumulation : Aware of the im possibility of accumulating after marriage, their de sire of accumulation will make them defer the period of marriage : Of deferred marriages, the result will be a less numerous offspring : A smaller number of people in proportion to the food will be reared : The competition for food will be reduced ; the competition for hands will be increased ; wages will rise ; and the cruel poverty of the mass of the population will be abated.
In this deduction, nothing is doubtikil, unless the commencing step. If the desire created in young persons for accumulation is sufficiently strong to pro duce any considerable postponement of the period of marriage, all the other effects will necessarily follow ; a reduced number of children ; an increased reward of labour ; and a correspondent amelioration in the condition of the greatest portion of the race. Sav ings banks will prove one of the most important in ventions, to which the ingenuity of man has yet given existence.
It would be rash, however, to claim as an ascer tain' ed fact, that savings banks will have the effect of retarding the period of marriage. There are per
sons who hold the very opposite belief. They say, that what chiefly retards marriage at present among the better part of the labouring population, among those who have a regard to appearance, and a value for respectability, is the want of means to provide the furniture of a house; that savings banks will en able them to provide that furniture at an earlier period than at present ; and that the institution will there fore accelerate the period of marriage, increase the number of those who canno•be fed, and thus add to the calamities of mankind. They ridicule the idea, that the love of saving will become, in the breast of young persons, a match for the passions which prompt them to marriage.
If we consider accurately what takes place among mankind, we shall probably conclude that 'both ef fecta will be produced ; that the love of saving will, no doubt, induce some persons to defer the period of marriage ; but that the means of furnishing a house, placed at an earlier period within their reach, will produce the very opposite effect in regard to others.
The question is, which class is likely to be the most numerous ? and this is plainly one of those questions to which no vbry certain answer can be given. But if we consider the strength of the pas sions which urge to marriage, we shall probably sus pect that it will not be easy for the love of saving to acquire an equal force in the breast of any consider • able portion of persons who are young, whose educa tion has been very bad, and who hence have little power either of foresight or of self-command.
Such are the different views which may be taken of the effects which banks for the savings of the poor will produce. The exposition is useful to check the intemperate conclusions of enthusiastic patrons, and to show that much more than the mere institution of savings banks is necessary to produce any consi derable amelioration, either in the physical or moral state of the poor. In conjunction with other causes, savings banks are not only desirable, but necessary. The noxious consequence will be, if those who have it in their power to do more, shall suppose that sav ings banks are sufficient to do all, and there should limit their exertions. Taken by themselves, it is at least a doubt whether savings banks may not pro duce as great a quantity of evil as good.