Note 309 — Chapter IX

Letter from the Court of Directors to the Governor in Council at Bombay, Public Department, 14th March, 1832. To this opinion of the Court I may add that Mr. Peacock, the “senior assistant examiner in the East India House,” in his evidence before the Committee of 1834 (pp. 3 and 4) when asked, if he thought any returns might be anticipated for postages and passengers to justify an expenditure of 100,000l. per annum in establishing and maintaining a quarterly steam service overland by way of Suez between England and India, would pay, replied: “I think nothing to pay the expense; something certainly, but not above one-fourth of the amount.” The gross earnings of the Peninsular and Oriental Steam Navigation Company alone between 1856 and 1874, inclusive of the amount received for the conveyance of mails, passengers, and cargo, amounted to 41,546,818l.