Savings bank depositors in a crisis: Glasgow 1847 and 1857

Ross, D. (2013) Savings bank depositors in a crisis: Glasgow 1847 and 1857. Financial History Review, 20(02), pp. 183-208. (doi:10.1017/S0968565013000103)

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Abstract

Savings banks were created as a means to encourage the newly created working class to save for the uncertainties of urban industrial life. This article explores the success of the Savings Bank of Glasgow, and pays particular attention to the response of savers to the financial and commercial crises of 1847 and 1857. The crisis of 1847 was shallower but longer lasting in Glasgow, while that of 1857 was greatly exacerbated by local conditions in the short term, but of little long-term importance to savers. It suggests that, in both crises, some elements of contagion may have been present but that those who panicked in 1857 were systematically different from those who did not.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Ross, Dr Duncan
Authors: Ross, D.
College/School:College of Social Sciences > School of Social and Political Sciences > Economic and Social History
Journal Name:Financial History Review
Publisher:Cambridge University Press
ISSN:0968-5650
ISSN (Online):1474-0052
Copyright Holders:Copyright © 2013 European Association for Banking and Financial History
First Published:First published in Financial History Review 20(02):183-208
Publisher Policy:Reproduced in accordance with the copyright policy of the publisher

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