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Waugh, Edwin, 1817-1890

"Home-Life of the Lancashire Factory Folk during the Cotton Famine"

This was
up to June last, when, as I have said, the pressure had hardly
commenced, and from that time it as been found impossible to obtain
from the savings banks, who are themselves naturally unwilling to
disclose this state of affairs--it has been found impossible to
obtain such further returns as would enable us to present to you any
proper estimate of the excess of withdrawals at present; but that
they have been very large must necessarily be inferred from the
great increase of distress which has taken place since the large sum
I have mentioned was obtained from the banks, as representing the
excess of ordinary withdrawals in June last.
Now, gentlemen, figure to yourselves, I beg of you, what a state of
things that sum of 71,113 pounds, as the excess of the average
withdrawals from the savings banks represents; what an amount of
suffering does it picture; what disappointed hopes; what a prospect
of future distress does it not bring before you for the working and
industrious classes? Why, gentlemen, it represents the blighted
hopes for life of many a family. It represents the small sum set
apart by honest, frugal, persevering industry, won by years of toil
and self-denial, in the hope of its being, as it has been in many
cases before, the foundation even of colossal fortunes which have
been made from smaller sums.


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