Investing · Entrepreneur memoirs

Samuel Smiles:Thrift, Excerpt 319

Samuel Smiles《Thrift》· Thrift · Investing

Early in 1833, Mr. Sikes entered the service of the Huddersfield Banking Company. It was the second joint stock bank that had been established in England. The prudence and success with which the Scotch banking companies had been conducted induced the directors to select a Scotch manager. One of the first resolutions the directors adopted, was to give deposit receipts for sums of ten pounds and upwards, for the purpose of encouraging the working classes in habits of providence and thrift. Mr. Sikes, being somewhat of a favourite with the manager, often heard from his lips most interesting accounts of the provident habits of the Scotch peasantry, and was informed by him of the fact that one of the banks at Perth paid not less than twenty thousand pounds a year as interest on deposits varying from ten to two hundred pounds each.

Source: https://www.gutenberg.org/ebooks/14418
Locator:Excerpt 319 · Verified:2026-10-19 · Verification:Short excerpt

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Does this passage change one judgment about money or risk today?

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