The Life of Sir Rowland Hill and the

iSSS-9] REVENUE, GROSS AND NET.
Predictions Fulfilled.
It may be remembered that, in my evidence before
the Parliamentary Committee of 1838, I expressed a
confident anticipation that, if penny postage were
adopted, the public would, after a while, expend as
much in postage as under the old system, and con-
sequently that the gross revenue would, in the end, be
made good. This anticipation was more than realized
in the year 1851.*
As regards net revenue, I expressed an opinion to
the effect that the great increase of letters necessary
to make good the gross revenue would require an
additional expenditure of about ,300,000 per annum,
and, consequently, that the net revenue would be
reduced by that amount, or to about ,1,300,000 a
year. The actual increase of expenditure, however,
owing to causes already mentioned, far exceeded my
estimate ; consequently the net revenue of the same
year (1851) was only 1,1 i8,ooo,t and it was not till
six years later that it rose to ^1,300,0004 And
though, as must be obvious to the attentive peruser
of the foregoing pages, these results, but for almost
endless obstructions, would have occurred at a much
earlier date, it was with deep satisfaction that I at
length saw my predictions fulfilled. I may add here
that in the year 1862, the net revenue so far exceeded
any expectation that I had held out as nearly to
equal the largest amount obtained under the old high
rates ; and that ever since that year it has greatly
exceeded that amount. Of course these comparative
statements are all based on the mode of calculation
* "First Report," p. 68. t Ibid. J "Fourth Report," p. 44.
" Parliamentary Return, 1868," No. 215.