To ascertain what second-class matter costs has been found to be a puzzling proposition. Many have tried to solve the puzzle and all have failed. The Joint Congressional Commission consisting of Penrose, Carter and Clay for the Senate, and Overstreet, Moon and Gardner for the House, with the aid of numerous expert accountants, at a cost of a quarter of a million dollars (according to the President’s statement), attempted it and gave it up. All these gentlemen are on record as declaring that it is a task impossible of accomplishment. Senator Bristow, a former Assistant Postmaster General, who has given postal questions much careful study, said in a recent speech that “It does not cost nine cents a pound, nor can the Department ascertain with even approximate accuracy what is the cost of handling any special class of mail. It would be just as easy for the Pennsylvania Railroad to state in dollars and cents what it costs to haul a ton of coal from Harrisburg to Pittsburgh, or 100 pounds of silk from Pittsburgh to Indianapolis, as for the Postoffice Department to state what it costs the Department to handle newspapers or magazines. Anyone familiar with transportation knows that such calculations cannot be made with accuracy, because there are so many unassignable expenses that must be considered--expenditures that cannot be subdivided and assigned to the different classes of freight. The same is true as to the different classes of mail.” Postal officials have exhausted conjecture as a basis for a correct solution of this problem. Nearly every year there has been a new guess. Mr. Madden, Third Assistant Postmaster-General for seven years up to 1907, guessed that it cost 4 cents a pound. His successor, Mr. Lawshe, guessed 2½ cents and then the next year 4 cents. For the last two years the Department’s guess has been 9 cents. The Penrose-Overstreet Commission declared, while it is impossible to ascertain with certainty what the cost is, the members of the Commission gave it as their opinion that “_One cent a pound is approximately adequate compensation for handling and transporting second-class matter._” I am confident that there is a better way of solving the problem than has heretofore been tried. This consists in the direct application of plain, old-fashioned common sense to it. A little gumption in such a matter as this is far better than fanciful guessing or astute figuring by experts, who are bent on finding something that is not there. In working out this problem I have adopted a method quite different and have obtained results quite unlike the foregoing. I show the relation of second-class mail to stamp mail extending over a period of 25 years, from 1885 to 1910. This covers the entire period since the institution of the cent a pound rate.