Founder of the system of "people's savings-banks," born at Delitzsch, and trained to the law; he settled in his native town and give himself to social reform, sat in the National Assembly in Berlin on the Progressionist side, but opposed Lasalle's socialistic programme; his project of "people's savings-banks" was started in 1850, and immediately took root, spreading over the country and into Austria, Italy, Belgium, etc. (1808-1883).