Bank holidays are treasured among workers and schools as a day to relax or go out, rather than work. It was a liberal MP who we should thank for the nine days we get off due to bank holidays. John Lubbock presented the Bank Holidays Act of 1871. Originally, four days off were given in attempt to ease the pressure on workers. These four days were Easter Monday, the first Monday in August, Whit Monday, and Boxing Day. Over time, these were replaced with Late Spring Bank Holiday and New Year’s Day etc. Good Friday and Christmas Day were not included in the act as they were considered traditional days of rest. The name ‘Bank Holiday’ comes from the fact that banks are shut which delays other business.
In the USA, bank holidays do not exist but they have ‘Federal holidays’ which give federal workers the day off as well as banks and post offices. These include the birth of Martin Luther King Jr., Thanksgiving and Independence Day. During the Great Depression, the president, Franklin Roosevelt, declared a nation-wide bank holiday which halted a month-long run on the banks. This allowed Americans to return the money they had withdrawn after the Federal Reserve created 100 per cent deposit insurance.
Make the most of and enjoy this upcoming bank holiday as the next one won’t be until the 29th of May.
