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Early Savings Banks and the Birth of Modern Deposits
The article recounts the origin of modern savings banks led by Henry Duncan in Scotland, describes Ruthwell and Edinburgh banks with their practices, notes early withdrawal rules and age checks, and traces spread to England, the continent, and early American banks such as Philadelphia Saving Fund Society in 1816 and others by 1820 with thousands of depositors and significant deposits.
MENTIONED IN THIS ARTICLE
Scotland
England
Henry Duncan
Dumfries
Thomas Carlyle
Chalmers
Dumseley
Ruthwell
Routhwell Savings Bank
Duncan
Edinburgh Savings Bank
Ruthwell Bank
British Linen Company
Frst
Court of Directors
Bouthwell
Savings
Great Britain
Francis Jeffrey
Edinburgh Review
Savings Bank
France
Germany
Denmark
Philadelpha
Philadelphia Saving Fund Society
Boston
New York
Nsoston Globe