Note 73 — I THE RATE FOR LETTERS

"In order to ascertain, with as much accuracy as the circumstances of the case admit, the extent to which the rates of postage may be reduced, under the condition of a given reduction in the revenue, the best course appears to be, first to determine as nearly as possible the natural cost of conveying a letter under the varying circumstances of distance, etc., that is to say, the cost which would be incurred if the Post Office were conducted on the ordinary commercial principles, and postage relieved entirely from taxation; and then to add to the natural cost such amount of duty as may be necessary for producing the required revenue."—Ibid. p. 10.