The Excellence of Savings Banks
Information
1818: On this day the Huntingdon, Bedford and Peterborough Gazette carried the following notice: 'In the first page of this day's paper we present to our readers a detailed prospectus of Peterborough's creation on 16 January last of one of those most excellent institutions called Saving Banks. Much has already been said in favour of these establishments. In many humble families where the odd pence had had formally been expended in libations at the ale house, they have been suffered to accumulate in the Saving Banks, till the pence have amounted to such sums as have enabled the humble cottager to introduce many articles of domestic comfort to his family, that were hitherto strangers to his fireside. Cleanliness and contented cheerfulness have in many instances succeeded to penury and squalid misery. We would particularly draw the attention of the heads of families to the important subject; as by inducing their servants and dependants to invest their surplus monies in these institutions they will inculcate such a spirit of industrious frugality as will not only benefit their employers but ultimately improve the conditions of Society at large. This institution is open to the inhabitants of the surrounding villages in either county.'
Taken from The Peterborough Book of Days by Brian Jones, The History Press, 2014.