Profit on passengers in all quarters (see
Appendix, No. 1.) £132,274
Freights, parcels, packages, fine goods (see do.) 117,440
Ditto specie, 24,000,000 dollars, at 1 per cent.
dollar 4_s._ 2_d._ 51,125
[12]Transport troops, stores, &c. for Government, say 30,705
Saving coals, as before, by use of sails 20,000
--------
Total £351,544
Yearly charges of whole done by Steam £252,850 (p. 053)
[13]10 per cent. yearly to replace capital,
or 50,000
Port charges, say foreign ports, &c. 15,000
Sundry small charges for Steamers, at
600_l._ yearly 11,400
-------- 329,250
--------
Gain besides clear post-office revenue £22,294
--------
[Footnote 12: Cost transport troops to Government
yearly--
Jamaica command £4,314 4 5
Windward and Leeward Islands 14,149 17 9
Bermuda command 3,982 18 10
British North America 6,259 13 8
Army vessels West Indies 1,998 13 10
--------------
30,705 8 1
_Parliamentary Papers_, No. 598 of 1836.]
[Footnote 13: In order to replace the original
capital, 10 per cent. or 50,000_l._ yearly laid
aside as a sinking fund, is quite sufficient,
thus:--
Principal. Interest.
1st year £50,000 0 0
2d do. 50,000 0 0 £2,500 0 0
3d do. 50,000 0 0 5,125 0 0
4th do. 50,000 0 0 7,881 5 0
5th do. 50,000 0 0 10,775 6 0
6th do. 50,000 0 0 13,814 0 6
7th do. 50,000 0 0 17,004 19 0
8th do. 50,000 0 0 20,335 0 6
9th do. 50,000 0 0 23,872 15 6
10th do. 50,000 0 0 27,566 8 7
--------------- --------------
Capital 500,000 0 0 128,888 14 9
Interest 128,888 14 9
----------------
Total £628,888 14 9
----------------
A similar sum (see Appendix, No. 1.) of at least
600_l._ per annum, each, ought to be charged as the
capital necessary to replace the sailing-packets.]
As regards the Post-office revenue, it is impossible, in the absence
of full official returns, to state its present exact amount, and,
consequently, the probable future increase. The revenue from the
outward postages to the British West Indian Colonies, Honduras
excepted, is inserted in the Appendix from official authority. Judging
from it, and other data, also adduced from official authority, the
present amount there stated cannot be far wrong; and the calculated
increase under the arrangements proposed, every circumstance
considered, is fair and reasonable. Besides the certain great increase
in all the external postages in these countries and colonies and
places, the internal and coasting postages in these places will be
augmented to a very great extent. Taking the outward postages at
present to be, to all the places mentioned, 100,000_l._--inwards as
much, 200,000_l._--there may be added, Additions 100,000_l._; (p. 054)
Increase 70,000_l._; total 370,000_l._; viz., outwards 185,000_l._,
and inwards as much; giving at the average postage of 2_s._ 5_d._ the
number of letters each way to be 1,531,465.
As regards the Harbour-charges, in the British Colonies, these may be
given up, or reduced to a small sum for the trouble which the Custom
Houses may be put to; and in foreign ports it should be arranged by
compacts with the respective governments, that the port dues should be
reduced to a small sum, for two reasons,--because the vessels carry
the mails, and because they are on that account restricted to a small
portion of the whole cargo, which they could otherwise take. The
charges might be made proportionate: there could not be much
difficulty in arranging these points. In some of the minor ports
(foreign), the steamers would not even come to anchor.