not continue long in the office--the truth is, there was
something the matter with the 'chest,' and he took French leave. Mr.
Watson succeeded him; he was clever but not very popular. In 1867 the
island and mainland were united in one province; the officials at New
Westminster were all sent down to Victoria. At that time I was
'officer in charge of the treasury.' A Savings Bank Act was passed by
the Legislature. I received from the executive council a mandate to
establish the bank, with the head office in Victoria, and four
branches, one each at Nanaimo, New Westminster, Yale and Cariboo. The
bank was under commissioners, Mr. Roscoe and Mr. Langley being
nominated to that office; their services were purely gratuitous. The
head office of the bank was in the Treasury, but to accommodate
working men, an office was opened at Government Street, not very far
from Sehl's furniture store, for, I think, two hours two days in the
week.

"I do not know if I mentioned the fact that the Dominion virtually
bought out all the depositors in the British Columbia bank. A small
temporary office was opened at the foot of Fort Street, next to what
was Mitchell & Johnston's feed store, which was in use until the new
Post Office building was built; the savings bank, as you are aware,
is now located in the grand new building at the foot of Government
Street. If it would not be considered far-fetched I would like to
send you a word or two on the origin of savings banks. The first
ideas of thrift were promulgated by Daniel Defoe in 1697; it was a
happy Socialistic discovery. In 1797 Jeremy Bentham taught the
principles of thrift. In 1799 the first savings bank was started at
Windover in Buckinghamshire, by the Rev. Joseph Smith. The Rev. Dr.
Henry Duncan opened in Ruthwell, Dumfrieshire, the first savings bank
in Scotland in 1810. Thrift is the keystone that supports the arch
of the savings bank. The stormy petrel riding in safety on the crest
of the wave in instinctive security, symbolizes the security of a
depositor in a government savings bank. I do not know that I can say
any more at present.

"John Graham."

[Illustration: Theatre Royal on Government St.]

This little photo shows the west side of Government Street, from Fort
to Yates Street, as it appeared in 1863. The corner store was A.
Rickman's grocery, then Jones' Bazaar (toys and fancy goods), then
McNiff's saloon, next Payne's barber shop. Before going on I might,
with Mr. Pa