91³Ô¹ÏÍø

Concept   

Penny Savings Bank

Categories: Commerce, Social Welfare

Concept

¹ó°ù´Ç³¾Ìý  "In 1798 Priscilla Wakefield founded the first "frugality bank" in England. This she founded at Ship Inn Yard in Tottenham. It was intended to help people on lower incomes to save money. There were facilities for women and children to save what they could from their income and soon it became a safe and profitable place of saving for labourers and servants. Members paid, according to age, a sum of money each month to entitle them to a pension after age 60 and money if they were sick. Children were encouraged to save a penny a month towards clothing and apprenticeships.  The immense success of this enterprise meant that similar "savings banks" spread throughout the country. They were eventually nationalised in 1865 when the Post Office Savings Bank was established. Penny savings banks continued in schools until 1919, when they were absorbed into the Post Office Savings Bank."

Comments are provided by Facebook, please ensure you are signed in to see them

This section lists the memorials where the subject on this page is commemorated:
Penny Savings Bank

Commemorated ati

Priscilla Wakefield

Our colleague Alan Patient took a photo of this plaque in 2008 and tells us i...

91³Ô¹ÏÍø

Other Subjects

John Sainsbury

John Sainsbury

Businessman. Born John Davan Sainsbury, one of three brothers, he entered the family business in 1950, becoming chairman and chief executive in 1969.  Created Baron Sainsbury of Preston Candover.

Person, Commerce, Politics & Administration

1 memorial
The George Pub, Fleet Street

The George Pub, Fleet Street

Founded in 1723 as a coffee house, became Georges Hotel in 1830 and then a public house as it is today. Current building is late Victorian.

Building, Commerce, Food & Drink

1 memorial
Coal Hole Tavern

Coal Hole Tavern

The meeting place of the Wolf Club of which in about 1826 Edmund Kean was a leading member.  Lawrence Silverman tells us that, later, this was the tavern where Renton Nicholson staged his very rude...

Place, Commerce, Community / Clubs, Food & Drink

1 memorial
Henry Charles Stephens

Henry Charles Stephens

Businessman and politician. Born at 71 York Road, Lambeth (demolished), the son of Dr Henry Stephens. Known as 'Inky', he developed the writing fluid invented by his father. He served as member of ...

Person, Commerce, Philanthropy, Politics & Administration

2 memorials