Her Majesty's Mails

Further, there is no doubt but that Mr. Gladstone's Bill, if passed through Parliament, "to amend the law relating to Government Annuities," will have a most important effect upon the Post-Office institution.[138] It is true that under the Savings' Bank Act any person may purchase a deferred annuity through the Post-Office, only the clause making it necessary to pay the purchase-money in one sum has a direct deterrent effect upon the measure. The provisions of the new Bill, on the contrary, allow the purchase-money to be paid in even weekly instalments. Equally important is the second part of the Bill, which empowers the Government to assure a person's life for 100l. It is proposed to draft all this extra business on to the Post-Office establishment, and no interest, except the insurance company interest, is likely to say nay. Until assurance or other companies can appoint agents, and open out offices in every town and village, the Government is likely to have a monopoly of any business it chooses to undertake.