Her Majesty's Mails

The stipulations made were, that the business should be carried on at the cost and at the risk of the originators, and that they, in return, should receive the profits. It was agreed, also, that they should enjoy the privilege of sending all their correspondence free of postage--no inconsiderable item saved to them. Contrary to anticipations, the proceeds were considerable--not so much on account of the number of transactions, as on the high commission that was charged for the money-orders. Their terms were eightpence for every pound; but if the sum exceeded two pounds, a stamp-duty of one shilling was levied by Government in addition. No order could be issued for more than five guineas; and the charge for that sum amounted to four shillings and sixpence, or nearly five per cent. When it is considered that the expense did not end here, but that a letter containing a money-order was subjected to double postage, it cannot be wondered at that those who dealt with the three monopolists were few in number, and only persons under a positive necessity to remit money speedily. Such a system, it will be admitted, could not of itself be expected to foster trade. When the general public were admitted to the benefits of the Money-order Office--as they were some few years after the establishment of the office--it does not appear that the business was greatly increased.