Note 141 — Chapter VII

According to an excellent authority, Mr. Smiles, to whose admirable article in the Quarterly Review (Oct. 1859) we are indebted for some of our particulars of the history of this movement, it would appear that the first proposal for Regimental Savings Banks was made in 1816 by Paymaster Fairfowl, but allowed to drop; it was taken up again in 1827, when Colonel Oglander, commanding a regiment of Cameronians, brought the project under the notice of the Duke of Wellington. The Duke could not see any benefit to be derived from the proposal, and wrote the following characteristic memorandum upon the papers: There is nothing that I know of to prevent a soldier, equally with others of his Majesty's subjects, from investing his money in Savings Banks. If there be any impediment, it should be taken away; but I doubt the expediency of going further. He added something further, however, which, also eminently characteristic, opened up a new feature in the case, and closed the door to such proposals till after the Duke had left the service. Has a soldier, continued he, more pay than he requires? If he has, it should be lowered, not to those now in the service, but to those enlisted hereafter. Colonel Oglander had no idea that the soldier should have less than his thirteen pence a day, and a penny beer money, and therefore suffered his proposals to be simply negatived.