PENNY POST.

Dominion, Volume 2, Issue 318, 3 October 1908, Page 5

PENNY POST.

* MR. 11. HEATON'S UNIVERSAL PROJECT HOW TO FINANCE IT. A MILLION LOAN-CAPITALISTS (BY TCLEGRAm —FRESS ASSOCIATION—COrYIUGIiT.) (Rec. October 2, 10.45 p.m.) London, October 2. Mr. Henniker Heaton, in a letter to "The Times," urges the Primo Minister, Mr. Asquith, to sanction a universal penny postago loan of one million. This sum, Mr. Hoaton considers, would bo sufficient not only to cover the initial sacrifices of revenue in connection with what is bound to be in tlio future a higlrly-productivo expenditure, but also to provido a sinking fund to redeom tlio loan in a decade. Ho contends that there are capitalists who would willingly relievo the Treasury of all responsibility in initiating this great reform. HUGE ANGLO-AMERICAN TVrATT.pI. London, October 1. The dispatch of tremendous mails signalised the inauguration of the Anglo-American penny postage scheme. MR. HENNIKER HEATON'S ESTIMATES OF LOSS. Mr. Henniker Heaton estimates the initial loss by the establishment of penny postage with America at .£130,000 a vear. In a recent .article he stated:— "A few days ago the Postmaster-General sentmo the statistics of letters forwarded last year from these shoves to foreign countries. 'By the side of this statement I give tho estimate of the loss, reckoned at one penny halfpenny per letter, for the first year, but disregarding entirely tho increased numbers of letters whioh would inevitably be sent., Another column shows the approximate loss which would accrue assuming that the correspondence was doubled.

Approxi--1 . - mate loss if reduced to one . penny Letters Loss if when sent reduced correduring to ono spond--1907, penny, enceis ~ . . ■ doubled.

"Roughly speaking, there(are sent out from England fifty million. letters annually to foreign countries not yet enjoying penny postage. ' Deducting three-halfpence per letter, this would mean three hundrod. thousand pounds loss, not counting any increase whatever in number of letters s^nt." Mr. Henniker Hoaton suggests the formation of a Stock Exchange Company with a, canital of JC300.000, which _ would guarantee the Post-master-General against any loss in establishing nniversal nanny ntstage, provided the.'comnany he allowed to take any profits accruing, thorcfTom during the first ten years, after which the profits would go to the Post Office..

Austria-Hungary ... 2,100,00ft 13,125 4,825 Belgium 3,600,000 22,500 - 7,834 Denmark 1,000,000 . 6,250 2,083 France 12,000,000 75,000. 25,000 Germany 12,000,000 75,000 . 25,000 Greece 208,000 1,300 400 Holland ... ... 6,000,000 37,500 12,500 Italy ...' ... 2,600,000 16,250 , 5,480 Norway ...' ... 1,200,000 7,500 2,728 Portugal 543,000 3,300 1,281 Russia ... ... 1,500,000 9.375 ■ 3,385 Spain 2,000,000 12.500 4.166 Sweden 1,000.000 6.250 • 2,083 Switzerland 2,000,000 12,500 4,16S Turkey 700,000 4,375 1,533 Ronmania, etc. ... ' 330.000 • 2.060 715 China : 580,000 3,620 1,255 Japan -Wirttt 2,065 717 Mtxico 400,000 2,500 909

Brazil,' Argentine, etc ... 1,200,000 7,500 2,728 Chili and Peru ... 400,000 2,500 909