"Here, the lowering to 5 centimes (a halfpenny) of the rate which is at present at an average of something less than 4 1/2d., would constitute likewise a reduction of seven-eighths. We may therefore be allowed to expect the same result—that is to say, 417 millions of letters, in place of 116 millions.
"But let us count on 300 millions.
"Is there any exaggeration in assuming that with a rate of postage one half less, we shall reach an average of 8 letters to each inhabitant when in England they have reached 13.
Now 300 millions of letters, at 5 centimes, give, 15
100 millions of journals and prints, at 5 centimes, give 5
The present expense (which may diminish) is.
31 Deducting for mail steamers,....5
There remains for despatches, travellers, and money parcels,....26
Net product,......2
At present the net product is.....19