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CHAPTER VI.— Co-operative banks as savings banks ^ ... 120

How are co-operative banks to obtain the money which they want? —
The best and most legitimate source is local thrift — Dangers of spoon-
feeding and State help - State-aided and self-help banks contrasted —
Duty of co-operative institutions to train members to thrift — Their
interest in doing" so — Value of savings deposits — "Compulsory," or
"perfected" savings banks — There is plenty of money to be collected
— Co-operative banks are in the best position to act as savings banks
—Their utility where established— They create new saving without
trenching on old — They can best study "facilities" — Some pertinent
statistics — The British savings bank system — Its imperfections — Lord
Avebury's opinion— Necessity of capital accumulations for the working
classes, to be available for fructifying employment — Mr. Gladstone
quoted— Working men are equal to collecting and administering their
own savings — Necessity of credit business by the side of housing and
settling, to provide liquid assets — Consequently self-governed savings
banks, if they are to satisfy expectations, must be People's banks.
