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of £483 14s. 2d. Of this sum there have

Repaid to depositors.      .      .185147
Transferred to the Govenment
Savings Bank

.      .      .



Individual accounts, each under
17s., left standing with the
Treasurer, the property of 355
depositors, amounting in all, to

.      .      .




The conductors of the Bank took pains to
inquire of those depositors by whom money
was withdrawn, their reasons for withdrawing
it; and it was thus ascertained that,
with very few exceptions, the young people
drew their money to buy wearing apparel,
watches, books, or to support themselves when
out of work. The three hundred and fifty-
nine depositors at Huddersfield are chiefly
youths working in factories, and passing
through the classes of the Mechanics' Institute.

The rules adopted by the Penny Bank, at
Huddersfield, are very simple. The most
important of them is, that in order to secure
the safety of the money in the Preliminary
Savings Bank, the whole amount of it be
guaranteed: and that the names of the
individuals who give that guarantee, and the sums
for which they make themselves responsible,
together with a statement of the progress of
the Bank, be published in an annual report.
Accordingly, in the report which closes the
year 1851, we find the names of three gentlemen
who became guarantees each to the
amount of one hundred pounds for the honest
performance of their undertaking by the
Penny Bank Committee.

Mr. James M. Scott, who has started
Penny Banks at Hull and Greenock, in
imitation of a penny club which was formed
some years ago, states, that a Bank which
has not that advantage of existing and
gratuitous machinery which is afforded by
connexion with a Mechanics' Institute,
supposing it to contain five thousand depositors
investing an average of about forty pounds
a week, can be worked satisfactorily at the
expense of seventy pounds a year. To meet
this outlay, according to his own experience,
about sixty pounds is received in the shape
of interest on the money invested, and from
minute charges made to the depositors. The
deficient ten pounds are made up, in his case,
by voluntary subscription.

The most convenient method of establishing
a Penny Bank is not to plant it as an
institution by itself, but to graft it on some
stable and successful institution for the
working classes which may happen already to
exist, a Mechanics' Institute, or a Labourers'
Reading Room. If this be impossible, no
Penny Bank can be established with success
except in districts where it is quite certain
that the number of depositors will be
considerable; unless, indeed, there can be found
people who will yield almost gratuitously so
much time and house-room as are requisite
for the performance of its business.


A FEW years ago, having made known to
those whom it might concern that I wanted
a footman, there came, amongst others, to
offer himself for the situation, a young man,
named George Hammond. He had a slight
figure, and a pale, thin, handsome face, but
a remarkably sad expression. Although
he inspired me with interest, I felt, before I
began to question him, that I should hardly
like to have that melancholy countenance
always under my eye.

"Where have you lived?" I asked.

"I have never been exactly in a situation,"
he answered.

"Then," said I, interrupting him, " I fear
you will not suit me."

"I meant to say," he continued, turning
paler than before, as if pained by my ready
denial—" I meant to say that although I have
never been in a situation, yet I know the
duties of a servant; for I have been for
several months under Lord Gorton's house
steward, Mr. Grindlay, and he has taught
me everything."

"Did Lord Gorton pay you wages?"

"No; but he allowed me to wait at table,
and I acted just as if I had been paid wages."

"Mr. Grindlay is a friend of yours, then?"

"Yes; he has been very kind, and has
taken a great deal of pains with me."

"And you think you are fit to undertake
such a place as mine?"

"I think I am, and I should try to give
satisfaction; for I am very anxious indeed to
earn my own living."

"And who is to give you a character?"

"Mr. Grindlay will; he has known me all
my life."

During the conversation, of which the
above is an abridgment, I found that my
feelings were veering round to a more favourable
quarter for the candidate. Young as
he was, I thought I could discern that he had
suffered, and that he was anxious to diminish,
or repair, his ill fortunes by industry and
good conduct. There was a moment, too,
in which I fancied I saw the clue to his
sorrows. It was when I said, " You are
not married, I presume?"

"No," said he.

"Because," I added, " my house is not
large, and visitors below are inconvenient."

"I have nobody in the world belonging to
me but one sister. And the only friend I have
is Mr. Grindlay," he replied, with some
eagerness, as if to put a period to further
inquiries in that direction, whilst he visibly
changed colour. Feeling sure there was
some painful family history behind, I said no