Her Majesty's Mails

Last year this power was largely used, there being no fewer than 20,872 deposits and 15,842 withdrawals made under these circumstances, e. g. at places where the depositor is temporarily residing.[181] The facilities offered by the Post-Office in this way are unique; no other banks can offer them; and such is the admirable system adopted by the Post-Office, that complicated accounts of this nature are reduced to a matter of the simplest routine. At the end of each month the accounts of the two offices concerned in transactions of this kind are reconciled by the addition or deduction of the amounts in question, which arrangement, so far from being an irksome one, enables the Department to obtain a very valuable check upon its gross transactions. Under the old system, a depositor could only effect a transfer of his account from Manchester to Liverpool by withdrawing it from the one, under the usual long notice, and taking it to the other. This course was not only troublesome to the parties concerned, but the depositor ran the risk of losing his money, or, perhaps, of spending the whole or part of it. Under the Post-Office system, however, the transfer may be effected in a day or two, without the depositor even seeing the money, and without the smallest risk of loss. Suppose a depositor wishes to transfer his account from a bank under the old plan to one under the new, or vice versâ, the matter is one of equally simple arrangement.