A powerful influence was next given to the movement by Mr. Charles W. Sikes, cashier of the Huddersfield Banking Company, who advocated their establishment in connection with the extensive organization of mechanics’ institutes.  It appeared to him that to train working people when young in habits of economy, was of more practical value to themselves, and of greater importance to society, than to fill their minds with the contents of many books.  He pointed to the perverted use of money by the working class as one of the greatest practical evils of the time.  “In many cases,” he said, “the higher the workmen’s wages, the poorer are their families; and these are they who really form the discontented and the dangerous classes.  How can such persons take any interest in pure and elevating knowledge?”

To show the thriftlessness of the people, Mr. Sikes mentioned the following instance.  “An eminent employer in the West Riding,” he said, “whose mills for a quarter of a century have scarcely run short time for a single week, has within a few days examined the rate of wages now paid to his men, and compared it with that of a few years ago.  He had the pleasure of finding that improvements in machinery had led to improvement in wages.  His spinners and weavers are making about twenty-seven shillings a week.  In many instances some of their children work at the same mill, and in a few instances their wives, and often the family income reaches from a hundred to a hundred and fifty pounds per annum.  Visiting the homes of some of these men, he has seen with feelings of disappointment the air of utter discomfort and squalor with which many are pervaded.  Increase of income has led only to increase of improvidence.  The savings bank and the building society are equally neglected, although at the same mill there are some with no higher wages, whose homes have every comfort, and who have quite a little competency laid by.  In Bradford, I believe, a munificent employer on one occasion opened seven hundred accounts with the savings bank for his operatives, paying in a small deposit for each.  The result was not encouraging.  Rapidly was a small portion of the sums drawn out, and very few remained as the nucleus of further deposits."[1]

[Footnote 1:  From Mr. Sikes’s excellent little handbook entitled “Good Times, or the Savings Bank and the Fireside.”]

Mr. Sikes suggested that each mechanics’ institute should appoint a preliminary savings bank committee, to attend once a week for the purpose of receiving deposits from the members and others.

“If a committee at each institution,” he said, “were to adopt this course, taking an interest in their humble circumstances, and in a sympathizing and kindly spirit, to suggest, invite, nay win them over, not only by reading the lesson, but forming the habit of true economy and self-reliance (the noblest lessons for which classes could be formed), how cheering would be the results!  Once established in better habits, their feet firmly set in the path of self-reliance, how generally would young men grow up with the practical conviction that to their own advancing intelligence and virtues must they mainly look to work out their own social welfare!”