Savings, 1850-1940.
The City Council provided the premises, supported its operations and set the conditions for its operation. It had a modest development until the end of the 19th century and it did not take off until the beginning of the 20th century. From 1850 to 1900, with poetic words that did nothing more than cover up its scant development for half a century, José María de Aresti, director of the Caja Provincial de Ahorros de Lava, said in 1945 that: "Its development was parallel to the passage of time, slow and calm." ( Reality , August, 1945), as clearly demonstrated by the figures in the following table:
| To or | Imposing | Balances in pesetas |
| 1850 1880 1900 1905 1910 1915 1920 1925 1930 1940 1945 | 12 698 3.199 4.333 5.482 6.269 11.489 17.331 20.981 28.865 34.266 | 1,912.49 234,050.21 2,858,092.90 5,160,897.16 7,992,208.84 10,079,912.67 15,363,618.43 28,137,020.37 37,883,596.77 65,538,062.59 122,024,062.70 |
In 1912 it was decided to extend the scope of the Caja and expand it to the province, attracting the rural population, which produced an increase in savers and balances. This was the moment when competition with private banks began and when it became necessary to intensify the promotion of savings, establishing savings awards in 1913. From the twenties onwards there was a more marked increase in depositors and balances, when the Caja established new relations with the City Council and functioned as a more independent institution, without this meaning that they did not work in unison when the interests of both institutions so advised. In 1927 it had established three types of passbooks, ordinary, school and term. It made loans with securities, mortgage and personal guarantees since 1914; in addition to those made by the Monte de Piedad on jewellery, clothing and other objects. The mortgage loans were mostly intended for peasants to acquire the land they worked, while the personal guarantee loans were intended for the urban population of the capital. Loans were also granted to agricultural unions and, from 1918, to companies.
In 1928, it was ranked 30th in the Spanish Confederation of Savings Banks and seventh in the Basque-Navarre Federation. The Republic and the Civil War were the most tense moments for the institution, both due to the political problems that arose and the economic problems that occurred during the 1930s and the logical consequences of a war. However, these vicissitudes were reflected in the decrease in profits, but not in the increase in savings and depositors, which continued to grow throughout the period.
Special mention should be made of the support that the Caja provided to the City Council from its inception, providing it with money under conditions that a Bank would never have provided, whether for public works, investing its funds in municipal debt or covering the municipal budget deficit when necessary. The Caja was responsible for financing the Municipality's contributions to the railway lines; and, during the 1930s, it helped it in the acquisition of various plots of land. The relationship with the founding institution had to be adapted as stipulated by national legislation. Its most notable investments in this period were made in provincial and national debt, real estate, and in shares of various national and foreign companies (Ferrocarril del Norte, Altos Hornos, various Banks...).
The construction of cheap or economical houses was not in the management's sights until the law of 10 October 1924 was passed, when it was agreed to allocate 900,000 pesetas for this purpose. After the Decree Law on cheap houses of 29 July 1925, a new formula was established. Its investments in properties that had a different purpose and other recipients were another matter. In the mid-1930s, the situation of the workers and the shortage of housing made it advisable to build some houses and finance the Vitorian Cooperative of Cheap Houses. This Bank put great effort into uniting all the Banks in defence of their common interests. It tried in 1917, but was unsuccessful due to the little support it found at that time in the Gipuzkoan Banks. The circumstances experienced at the beginning of the 1920s (see SAVINGS BANKS IN VASCONIA ) meant that in 1923 its new attempt had the desired success, decisively supported by the Caja Provincial de Ahorros y Pr stamos de lava. Both banks were responsible for preparing the study for the creation of the Federation of Basque-Navarre Savings Banks (1924), whose secretariat was assigned to it, and then also promoting the Spanish Confederation of Savings Banks (1928).