740 REPORT— 1903. 



Thirdly, there are the Hallway Savings Banks, which have collected from tlifl 

 workmen employed and from their families nearly five million pounds. It is 

 right to ohserve that they give a rate of interest exceeding by about 1 per cent, 

 that given by the Trustee and Post Office Savings Banks. It is also to be borne 

 in mind that the deposits in Savings Banks are not drawn wholly from the 

 industrial population, but that many, especially women and children, belonging 

 to other classes make use of the banks. Indeed, the Postmaster-General, in an 

 approximate estimate made some years ago, calculated that women and children 

 constituted 56 per cent, of the whole number of depositors. School Savings Banks 

 and Penny Savings Banks are also to be mentioned as feeders of the ordinary 

 Savings Banks, and as greatly increasing the opportunities of saving afforded to 

 the young, and instilling into them valuable lessons of thrift. 



Such is the story the department I am about to leave has to tell of the free 

 and spontaneous efforts of the industrial population to better their condition by 

 means of thrift and economy. It is, I venture to think, one which speaks well 

 for the general body of that population and has great promise for the future of the 

 country. In times of depression, as well as in times of prosperity, the gradual 

 increase of the funds of these various bodies has been maintained ; the members 

 have not been compelled by the one, nor tempted by the other, to relax their 

 efforts and their sacrifices. 



I ask forgiveness for having detained you so long on so small a branch of the 

 great subjects with which this Section has to deal, and which will be well illus- 

 trated in the important papers and discussions that are set down on its programme. 

 The course of events has given to one group of subjects, that has often been 

 considered in this Section, a new and unexpected prominence ; and we await with 

 keen interest the teaching which economic science has to offer on the questions 

 of the day. 



The following Papers were read : — 

 1. The Growth of Jiaten. By Benedict W. Ginsburg, 3LA., LL.D. 



AVithout attempting to deal with this question as a whole, the paper is 

 designed to show the impossibility of raising, as is proposed, large sums of money 

 from our provincial cities for the purposes of higher education. With this view 

 the statistics of seven important towns — Birmingham, Bradford, Bristol, Leeds, 

 Liverpool, Manchester, and Sheffield — are examined, and the area, population, 

 rateable value, amount raised by the rates, and levy of rates per pound over 

 decennial periods for the last half-century, taken out. Liverpool, as being the 

 nearest and perhaps the most important city, is taken as an example, and her 

 position discussed in detail. Comparing 1881 with 1851 it appears that though 

 the population and rateable value had increased, the rates had also risen from 

 Is. Qi,d. to 3s. ll:f^., so that the amount extracted from the ratepayers rose from 

 134,000/. to 600,000/. per annum. h\ 1901 it had further risen to 6s. ^d. in the 

 pound, the increase over the amount of ten j'ears previously having been 84 per 

 cent. The movement of municipal indebtedness, not only for remunerative 

 undertakings, but also for general purposes over the whole country, has also 

 been upwards. The Local Government returns show a total expenditure for all 

 the municipalities of 88 millions in 1898, and of 121 millions in 1902, on repro- 

 ductive works. The return which is made, however, by these undertakings is 

 not proportionate to the capital charges incurred. Liverpool, for example, lias 

 spent 7^j millions to obtain a return of but 45,000/. per annum. The ancient 

 sources of expenditure, such as the poor law, are not those upon which the present 

 large outlays go. Housing, electricity, tramways, and education account for most 

 of the increase. In the last ten years Manchester's contribution to the School 

 Board has trebled, rising from 40,000/. to 120,000/., Birmingham's has risen from 

 73,000/. to 134,000/., and Liverpool's from 62,000/. to 128,000/. In view of these 

 facts and of the probable results of the new Education Act, it would seem 

 improper that new undertakings should be even contemplated. 



