TILE POWER OF TIIE PENNY.
I am always glad to be able—as, fortunately, I frequently am—to note the steady progress in the ingathering of deposits by the Yorkshire Penny Bank. It is an institution which has served the cause of thrift well for many a long year and it would be hard to find a concern throughout the country with a more liquid balance-sheet. During the past year the deposits have increased by £641,000, and now stand at over £28,000,000. Some idea of the strength and liquidity of the balance-sheet may be gathered from the fact that the total of actual cash was £7,319,000, while short-dated British Government Bonds and Loans aggregated over £16,500,000. In fact, the total percentage of cash, Treasury Bills, and short-dated Government Bonds and Loans to the Deposits is over 87. During the year there was a considerable increase in the village branches, and also in the banks for school children. Nearly a quarter of a million of automatic recording safes are now in the homes of customers, acting, as the report very properly says, " as a daily reminder and
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