Much difference of opinion has arisen as to the amount of net revenue or profit of the Post Office department, i.e., the excess of receipt above expenditure; some estimating it at upwards of £1,500,000 per annum, others affirming that it is really less than £400,000.
This difference of opinion appears to arise from different views being entertained on the two following points:—
1. As to whether certain items should be included in the receipt.
2. As to whether certain other items should be included in the expenditure.
I may premise, that the subject of net revenue has to be viewed in two aspects. First, as to its absolute amount, and, secondly, as to its comparative amount when contrasted with the net revenue obtained before the establishment of Penny Postage. I propose, therefore, to consider the question from both points of view.
First.—As to the absolute amount of net revenue.
Under the head of receipt, the items regarding which there is a difference of opinion are:—
(a.) The postage of the Government correspondence.
(b.) The proceeds of the impressed stamps on newspapers.
(a.) The postage of the Government correspondence is included in the ordinary amount of gross receipt, but it is contended by some that it ought to be excluded.