1797+] 
vance, to be placed at intereft for the 
purpofe of the affociation. 
Perhaps an objeétion may be made to 
the propofed plan, from the poffibility 
that, under fome extraordinary circum- 
ftances, the money owing dy the affocia- 
tion may be fuddenly called in, whilft 
that owing fo the aflociation (though. on 
real and approved fecurity, and called 
in without delay) might not be received 
in due time, to difcharge the claims on 
the affociation. In reply to this, it may 
be obferved :—Firft, that fuch an emer- 
gency does not appear very probable.— 
Secondly, that in cafe of its happening, 
it is hoped the fituation and refources of 
the members would be fuch as to furnith 
the needful aid, provided the fecurities 
belonging to the affociation fhould not 
be realized in due time :—And, thirdly, 
that if it be thought neceflary to provide 
againft' fuch an emergency, it would be 
perfeétly reafonable, with reference to it, 
to ftipulate, that they who depofit mo- 
ney on intereft with the aflociation, fhould 
engage to give fix months’ notice, when 
they call in the fame; notwithftanding 
which, the affociation would not avail it- 
felf of that latitude, unlefs on occafion of 
fuch an emergency as that which has 
been ftated. On common occafions, and 
e{pecially after the affoctation has been 
eftablifhed a fhort time, it is not impro- 
bable that the fums paid in, and thofe 
called for, will fo nearly equal each 
other, that very little, in the way either 
of receipt or payment, would devolve on 
the members in their individual capa- 
cities. 
It thould be exprefsly ftipulated, that 
no part of the funds of the affociation 
fhould ever be lent to, or fuffered to re- 
main in the hands of any of its members; 
but that they fhould always be depofited 
with the treafurer, or in fuch bank as 
the affociation fhould fix upon for that 
purpofe, until fuch funds be appropriated 
in the manner already defcribed. 
‘The affociation fhould formally difa- 
vow every idea of deriving any emolu- 
ment from the propofed plan; and, if it 
fhould be found that, by placing out their 
funds at five per cent. intereft, whilft 
they only pay four per cent. there thould 
be a faving of more than would pay the 
unavoidable expences of ftationary, agen- 
cy, office, rent, &c. fuch furplus fhould 
- be devoted to the allowing a higher rate 
of intereft on the money lent to the affo- 
Ciations’ > et 
Perhaps it:may be-obferved, that meny 
ef the advantages hoped for from this 
plan, might already be obtained in the 
Plan for taking fngt Sums at Intere ft. 
metropolis, and in moft large towns where 
there are eftablithed banks ; and that if the 
lower claffes would avail themfelves of 
thefe, the forming of the affociations now 
def{cribed would beunneceffary. To this 
it may be replied, that many of the 
banks both in London and the country, are 
not in the practice of allowing” intereft on 
lodgments. But the great objeGtion, and 
that which in many places is an infuper~ 
able one, is that experience has fhown 
that even fuch, banking houfes as were 
originally founded on folid capitals, and ° 
have been carried on for many years with 
great credit, are yet, from various caufes, 
fubje&t to contingencies and failure, in 
common with merchants and manufac- 
turers; and though there are doubtlefs 
many bankers whofe folidity and refpect~ 
ability could not be exceeded by any 
affociation, yet as this cannot be remarked 
of al/ fuch eftablifhments, and, as the fai- 
lure of eminent bankers in various parts 
of the kingdom is ftill amongft the num- 
ber of recent events, it is not to be ex- 
peéted, that the lower claffes, with fo 
many temptations to confume the produce 
of their labour, on their prefent wants, 
or predominant vices, will be induced 
to facrifice thefe to the hope of fecuring 
a competency for declining age, or a pro= 
vifion for their children, unlefs they have 
every reafon to repofe with confidence, 
on the ftability and refponfibility of thofe 
with whom they depofit their favings. 
It may be farther remarked, with re-. 
fpeét to the propofed plan, that it has ne 
tendency, either to promote the fpirit of 
gambling amongft the lower claffes, or 
to bring them intothe way of drunkennefs. 
No difpofition of the human mind is bet- 
ter afcertained, than the defire of acquir- 
ing competence and independence ; and the 
facrifices and exertions neceffary to at- 
tain thefe are cheerfully made, when 
the difpofition is once put’ into motion, 
and fuitable encouragement given to it 
The habits this formed, are of the high- 
eft value in themfelves, and have a direct 
tendency to maintain a general {pirit of 
of fobriety, induftry and decorum; they 
may therefore be expeéted to produce 
great eventual benefit to mafters of 
families and employers of workmen. 
Liverpool, PHILANTHROPOS. 
Nov. 18, 1797. 
P.S. The writer of this Effay thinks it ine 
cumbent on him to remark, that a plan fimilar - 
to the preceding in its o4;-6, though fomewhat 
different as to the wears, was fome years fince 
fuggeited by an ingenious friend, to whom he 
is indebted for feveral of the hints and obfer- 
yations herein fated. 
a Kg Te 
425 

f 
Vy 
, 
! 
