History of Dumfries Savings Bank. 73 



them. In 1816. at the first balance, there was deposited £1410 

 2s 5d ; in 1827, when thej removed to Chapel Street, £562.") 9s ; 

 in 1849, at the opening of the bank offices, £31,380 lis 3d ; and 

 at the balance in January last there was £233,003 13s 3d — giving 

 an average this year of £44 14s id for every depositor. The 

 interest paid the first year was 4 per cent., but it fell in 1826 to 

 2 per cent., when the directors found it necessary to lend money 

 over land in order to keep up interest to the depositors. In 1848 

 it rose again to 4 per cent., and it has since fallen to 3 per cent., 

 at which it now stands. The amount of interest paid at the first 

 balance was £27 13s 3d, and at the last balance £6727 5s 6d. 

 From the start until 1891 premiums were paid to regular deposi- 

 tors, but it was found that these were not passing into the hands 

 of those for whom the bank was started, and the practice was 

 discontinued. The first year there were 288 depositors, and last 

 year there were 5233. In the cash book there are some rather 

 strange remarks. Under date 29th September, 1832, the deposits 

 being small, there is this note : " Awful visitation of cholera. 

 This last week 250 cases ; 65 deaths." Next week it is noted that 

 there were 294 cases ; 155 deaths. This last week there was one- 

 fourth more drawn than deposited. At the annual general meeting- 

 held on 24th Fegruary, 1821, it is stated: -'The meeting having 

 taken into consideration the recommendation of the committee to 

 take such steps as shall secure to this institution the benefits of the 

 late Act of Parliament for the Protection of Banks for Savings in 

 Scotland, unanimously approved thereof, and g-ave instructions to 

 their secretary to take such measures as are requisite for the 

 accomplishment of that object in terms of said Act." There is no 

 minute shewing this was done ; but by the old rules I see that the 

 rules were certified before the Justices of Peace for the County of 

 Dumfries in Quarter Sessions, within the Court House of Dumfries, 

 on the 6th day of March. 1821. The doquet is signed "John 

 Kerr, C.P." The results of this bank have been the fostering of 

 thrift amongst the working classes, and that to a greater extent 

 than is the custom in other towns, as I am informed that, although 

 this bank has gone on increasing both in amounts deposited and 

 number of depositors, the Post Office Savings Bank has fully as 

 large a turnover compared with places of a similar size. So the 

 good the Rev. Henry Duncan's institution has done we will never 

 be able to estimate. The average per depositor is now £44 Is 7d, 



