lated to improve the condition and morals of the poor, provided they are properly managed." His fear is that they would "at first be established by gentlemen of great respectability and fortune;" but that as they spread they would "at last be undertaken by speculative tradesmen, as a business from which to derive profit"! He anticipates future legislation by urging that "the poor should have some check on the employment of the funds, or the same evils will arise as from the indefinite multiplication of country banks."

He later expresses the hope that his friend's efforts, backed by himself, also by Hume, Malthus, Wilberforce and others, may prove successful in establishing a savings bank in the west end of London. He adds: "Their general diffusion in all parts of the Kingdom will be of great service, if the rich and well informed will continue to bestow some attention on them. They will tend to introduce economy and forethought among the poor," which trend "may in time check the propensity to a too abundant population, the great source from whence all the miseries of the poor flow in so profuse a stream."

This Malthusian suggestion is in part accounted for by the circumstance, also mentioned in the letter, that Malthus had been his guest for several days.

In a letter of July 15, 1816, Ricardo speaks of the successful founding of a savings bank in Westminster. That this enterprise was to Ricardo not a mere "flyer," or "side line," is evident from a letter to Trower dated December 10, 1817, in which he speaks of his activity in the formation and early management of the bank. "I was the only one practically acquainted with such institutions and therefore my services have been much more highly appreciated than they deserved." Here we have in outline a picture of Ricardo's pioneer work among London workingmen. He says:

"We give a half penny per month for every 13s. In six weeks we have received about £1,100, which may be said to be tolerably successful, but we understand that a strong prejudice exists among the manufacturing classes against us. They think that we have some sinister object-that we wish to keep wages down. Time and good temper will overcome this feeling and convince the prejudiced how that the rich have no other personal object in view excepting the interest which every man must feel in good government, and in the general prosperity."

V

WILLIAM BARNES RHODES

1772-1826

F the thousands who, a half-century and more ago, laughed immoderately over the

then popular burlesque, "Bombastes Furioso," few can now recall the name of the author. This rhythmical burlesque on Greene's sixteenth-century tragedy, "Orlando Furioso,' was written by William Barnes Rhodes, a clerk in the Bank of England. The play was first produced with the famous comedian, Liston, in the title role, with the equally famous Mathews as the King. Furioso is a rival of his King for first place in the affections of a fickle and worldly-minded maid. The simple logic of his rival: "But he's a general and I'm a King," has its effect. In a fit of the blues the worsted lover removes his boots from his feet and hangs them on a tree, writing upon a scrap of paper these words:

Who dares this pair of boots displace

Must meet Bombastes face to face.

He pins the challenge to his boots and sits down to await results, exclaiming':

Thus do I challenge all the human race!

The King happens along, displaces the boots, and a duel follows. The play was anonymously produced in 1810, and had an extended run. It was preceded by the publication of a collection of epigrams and a metrical translation of Juvenal by the same author. In 1823 our bank clerk was promoted to the position of chief teller in the Bank of England. In that capacity he served until his death in 1826.

VI

WILLIAM ROSCOE

1753-1831

WILL biography

LIAM ROSCOE, author of a standard biography of Lorenzo de' Medici,

and of other historical biographies, also poet, translator, scientist and statesman, became a banker through sympathy. Born in 1753, in a suburb of Liverpool, he was given a liberal education and in due time became an attorney. At the age of forty-six, to save two friends from financial disaster, he yielded to solicitation and became a partner and the general manager of the banking house of J. & W. Clark, Liverpool. At fifty-six, he entered Parliament as the member from Liverpool. His one term in that body was so successful that on his return at the close of the session he was given a very flattering ovation by his constituents. In 1816 occurred a disastrous run on his bank. The funds of the house were mainly locked up in mining and landed property, and a suspension was inevitable. As the assets seemed ample, at the creditors' request Roscoe retained active management and the bank resumed.