As no attempt was made to carry Mr Bentham's plan of pauper management into practice, his scheme of a frugality bank, as a part of it, remained with out effect.
The first attempt, as far as our researches have been able to discover, to give actual existence to the idea of a bank to the exigencies of the poor, was owing wholly to a lady, to whom the public are indebted for several excellent productions of the pen, and who never took up her abode in any place, while health and strength remained, without endea vouring to perform something of importance for ameliorating the condition of those by whom she was surrounded. Mrs Priscilla Wakefield, the lady to whom we allude, residing, in the year 1803, at Tot ' tenham, in Middlesex, a populous village, within a few miles of London, not only projected, but was the means of instituting, and the principal instrument in carrying on, a bank at that place fer the savings of .the poor. An account of this institution, drawn up by Mrs Wakefield, and dated the 24th of May 1804, was published in the fourth volume of the Reports of the Society for Bettering the Condition of the Poor. The account is so short, and so much to the purpose, that it may with advantage be inserted here.
Extract from an Account of a Charitable Bank at Tottenham for the Savings of the Poor, by Mrs Wakefield.
" For the purpose of providing a safe and con venient place of deposit for the savings of labourers, servants, and other poor persons, a charitable esta blishment has been lately formed at Tottenham, in the county of Middlesex. It is guaranteed by six trustees, who are gentlemen of fortune and responsi bility, most of them possessing considerable landed property. This renders it as safe and certain as in stitutions of this kind can be, and insures it from that fluctuation of value to which the public funds are liable. The books are kept by a lady, and never opened but on the first Monday in every month, either for receipts or payments. Any sum is received above one shilling ; and five per cent. is given for every 20s. that lies 12 kalendar months ; every per son so depositing money being at liberty to recal it, any day the books are opened ; but no business is transacted at any other time.
" The money so collected is diyided equally be tween the six trustees. For every additional L.100,
a new trustee is to be chosen ; so that a trustee can only risk his proportion of L.100. None but the la bouring classes are admitted to this benefit ; and there is no restriction as to place of residence." " oesenvsrinns.
" These few simple rules are all that have hitherto been found necessary for the establishment of this charity, the design of which is both original and use ful. To those who have applied themselves to that branch of political economy which relates to increas ing the comforts, and improving the morals of the inferior classes of society, it must be obvious that every endeavour to encourage and enable them to provide for their own wants, rather than to rely upon the gratuitous gifts of the rich, are of great advan tage to the whole community.
" It is not sufficient to stimulate the poor to indus try, unless they can be persuaded to adopt habits of frugality. This is evinced amongst many different kinds of artisans and labourers, who earn large wages, but do not in general possess any better resources in the day of calamity than those who do not gain above half as much money. The season of plenty should then provide for the season of want, and the gains of summer be laid by for the rigours of winter. But it must be obvious how difficult it is for even the so ber labourer to save up his money, when it is at hand to supply the wants that occur in his family. For those of intemperate habits, ready money is a very. strong temptation to the indulgence of those perni cious propensities.
" Many would try to make a little hoard for sick ness or old age, but they know not where to place it without danger or inconvenience. They do not un derstand how to put money in, or to take it out of the bank ; nor will it answer for small sums, either in point of trouble or of loss of time. The same causes frequently occasion thoughtless servants to spend all their wages in youth, and in consequence to pass their old age in a workhouse,—a sad reverse from the in dulgence of a gentleman's family, to which they have been habituated. Many instances indeed have oc curred, that, for want of a place of security for their money, the poor have lost their hard earned savings, by lending it to some artful or distressed person, who has persuaded them it will be safe in his hands.