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Ruthwell Savings Bank
Ruthwell Savings Bank, the first of its kind, was formed in Ruthwell in 1810, by the Rev. Henry Duncan. Although a pioneer in savings bank history, the Ruthwell achieved limited commercial success and was taken over by the Annan Savings Bank in 1875. History Formation The Ruthwell Parish Savings Bank was founded in the parish of Ruthwell near Dumfries, Scotland in 1810, and is widely held to be the first bank of its type. Its founder was the Rev. Henry Duncan, regarded as the “father of savings banks”.H Oliver Horne, ''A History of Savings Banks'', Oxford, 1947 Duncan was born in 1774 near Dumfries and after two years at the University of St Andrews he took a job in 1790 at Arthur Heywood & Co., a Liverpool banking house. Tiring of banking, he decided to follow his father into the church and attended both Edinburgh and Glasgow Glasgow ( ; sco, Glesca or ; gd, Glaschu ) is the most populous city in Scotland and the fourth-most populous city in the United Kingdom, as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ruthwell
Ruthwell is a village and parish on the Solway Firth between Dumfries and Annan in Dumfries and Galloway, Scotland. Thomas Randolph, Earl of Moray, gave Ruthwell to his nephew, Sir William Murray, confirmed to Sir John Murray, of Cockpool, in 1509 by King James VI. He was later given the title Earl of Annandale: their landownings in Ruthwell passed by inheritance to Lord Stormont in 1658, and after 1792 to the Earls of Mansfield. Ruthwell's most famous inhabitant was the Rev. Henry Duncan. He was a minister, author, antiquarian, geologist, publisher, philanthropist, artist and businessman. In 1810 Dr Duncan opened the world's first commercial savings bank, Ruthwell Savings Bank, paying interest on its investors' modest savings. The Savings Bank Museum tells the story of early home savings in Britain. The museum is on the site of the Ruthwell Savings Bank. In 1818, Duncan restored the Ruthwell Cross, one of the finest Anglo-Saxon crosses in the United Kingdom, now in Rut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
