2199. By reasonable tenders you mean that the Government, instead of taking for the service ships that were then ready to do it, should have waited eighteen months, in order that you might be put in the same position?--There was no necessity to wait, as the ships were bound to carry the mails, whether there was a new contract or not. 2200. Your opinion is, that there was no necessity for a new contract?--No, not for five years. 2201. In your opinion there ought to have been no contract at all?--Not for the Bengal and Suez line, for five years. 2202. What ships were bound to carry the mails?--The three ships which were bound to do the service were bound to maintain a monthly communication. 2203. By what engagement?--By an engagement with the East India Company they were bound to make a monthly communication for £20,000 a year. 2204. Was there any such arrangement with the East India Company?--Yes. I had ascertained that there was that arrangement by correspondence, which is the usual way with great companies. 2205. Did you ever read the correspondence which passed?--No; I know that certain deputations went; when I came home from India, I found among the papers of the East Indian Steam Company a document proving the terms upon which they were to undertake it. 2206. Was it not an offer of the East India Company to give £20,000 a year upon certain conditions?--Certainly not; there was no offer of the East India Company. 2207. Your impression of the correspondence that you saw was, that it was a distinct engagement on the part of the East India Company to give that sum, and a distinct engagement on the part of the Peninsular and Oriental Steam Packet Company, at all hazards, to perform the service?--Yes; but I should go farther than that, in explanation.