AN AUTOMATIC SAVINGS BANK

Manawatu Herald, Volume III, Issue III, 24 January 1890, Page 4

AN AUTOMATIC SAVINGS BANK

■ -♦ The latest nnd perhaps the most ipgeniens, application of the automaiio principle is to be found in a machine for bankiug purposes, invented and patented by Mi John Hope, Mechanical engineer, }4» Water-street, Liverpool. When • pennj or two halfpennies are praised into Mr Hope's automatic b>mk the depositor pulk out « drawer *nd finds - »' printed tiektt hearing a' number iv duplicate. He writes his name and address on the ticket* which he then presses into ft caviky in the machine, made to receive it, keeping the other lialf with the ebrresponding numbir. Thus, whe^ those in charge of the attomfttfo bank clear it of the tickets in order to enter them in proper ferm in their books, each depesitor has the dupli. eate of the .tickets bearing his name andjftgdrsssv.' In, thig nay absolute acouracy is obtained, and deposits ara orested .wjtji th« jxaei amount they have pat into tke mtehine. Each machine m e»p«6« of holding £5 in pennies or halfpennief, the coins being retired i» tal^g, %#hie)i are so arranged that >by n^tempt U pass base coins would be very eagily detected No second penny caii be received by the machine until $he receipt of the first one bag Wa duly removed by the depo> itor Mr Hope claims for his invention that it is well suited not only as a feeder to the Post Office Baying Bank, but also for penny bank associations, bands «£hope, and other tgencies for the encouragement of thift among old *ni yoong