With Us No Payment Is In Truth Made, Though The Post-Office
In Its Accounts Presumes Itself To Have Received The Money; But In
The States The Sum Named Is Handed Over By The State Treasury To The
Post-Office Treasury.
Any such statement of credit does not in
effect alter the real fact that over a million sterling is required
as a subsidy by the American post-office, in order that it may be
enabled to pay its way.
In estimating the expenditure of the office
the department at Washington debits itself with the sums paid for
the ocean transit of its mails, amounting to something over one
hundred and fifty thousand pounds. We also now do the same, with
the much greater sum paid by us for such service, which now amounts
to 949,228l., or nearly a million sterling. Till lately this was
not paid out of the post-office moneys, and the post-office revenue
was not debited with the amount.
Our gross post-office revenue is, as I have said, 3,358,250l. As
before explained, this is exclusive of the amount earned by the
money order department, which, though managed by the authorities of
the post-office, cannot be called a part of the post-office; and
exclusive also of the official postage, which is, in fact, never
received. The expenditure of our British post-office, inclusive of
the sum paid for the ocean mail service, is 3,064,527l.; we
therefore make a net profit of 293,723l. out of the post-office, as
compared with a loss of 1,020,000l. on the part of the United
States.
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