Her Majesty's Mails

This Bill, entitled "An Act to grant additional facilities for depositing small savings at interest, with the security of Government for the due repayment thereof," became law on the 17th of May, 1861. The first savings' banks in connexion with the post-offices of the country were established on the 16th of September, 1861. A limited number was first organized, and in places where no accommodation of the kind had ever been afforded. The extension of the scheme to Ireland and Scotland was effected on the 3d and 17th of February respectively. Nearly all the 2,879 money-order offices of the United Kingdom are now post-office savings' banks. These banks are in regular working order, 2,000, in round numbers, existing in England and Wales, 450 in Ireland, and 400 in Scotland. Many of our largest towns have several banks. Thus, at the present time, January, 1864, we find five banks in Edinburgh, five in Glasgow, twelve in Dublin, ten in Liverpool, sixteen in Manchester, ten in Birmingham, and seven in Bristol. Only seventy of the entire number of new banks have failed to obtain depositors--a fact which sufficiently proves that the advantages offered by the Post-Office establishment are understood and appreciated throughout the kingdom. Up to the end of 1863, the total number of depositors in new banks had been 367,000, of which number no fewer than 307,000 then held accounts. At present (March, 1864), the weekly deposits amount, in the aggregate, to 40,000l., while the withdrawals are no more than one-third of that sum. The total amount intrusted to the post-office banks since their first opening has been 4,702,000l., of which sum no less than 3,263,000l. remain to the credit of depositors. The most gratifying fact in connexion with the new banks is, that they show a much larger proportion of small depositors than the old savings' banks have been able to attract, the average amount of a deposit being 3l. 1s. 9d. in the new, against 4l. 6s. 5d. in the old class of banks.