The Life of Sir Rowland Hill and the

APPENDIX J.
[ See p. 279.]
Conveyance of Mails by Railway. Memorandum thereon,
As doubts appear to exist as to the expediency of proceeding with
the proposed Railway Bill, at least in the present comprehensive
form, I have been induced to consider whether the object in view
may not be attained by other means ; and I am inclined to think
that this may be done not only without the opposition, but even
with the cordial co-operation of the railway companies ; and that,
concurrent with this, an important saving of revenue may be effected.
The means which I would suggest are that the Exchequer Loan
Commissioners be authorised and required to advance loans, within
certain limits, to such railway companies as can give ample security,
on the following conditions :
i st. The amount of loan in each case to be proportionate to the
postal service performed by the company. If thought
necessary it might also be limited to a certain per-
centage on the sum which the company is legally
to borrow.
empowered
2nd. The rate of interest to be the market rate at the time as
determined by the terms on which the Government may
actually raise the necessary loan. At the present time this
would probably be about three and a quarter per cent.
3rd. The company to engage to carry the mails according to a fixed
tariff of rates to be framed beforehand by the Post Office.
Such tariff to include all possible varieties of service,
whether by trains " under notice," or otherwise ; and the
rates to be calculated so as, under ordinary circumstances,-
to afford the companies a small profit.
4th. All the existing powers of the Postmaster-General to be
maintained, and some additional powers to be secured,
devoted to the
e.g., the right to demand trains exclusively