“In the year 1834 I took, with others, an active part in proposing that total abolition of the stamp duty on newspapers which was effected about twenty-five years later: and I endeavoured to show, I still think correctly, that this might be done with little or no loss to the revenue. It must be remembered that there was then a heavy duty on advertisements, and my expectation was that the field for advertising would so increase, and thereby so multiply advertisements, as soon to restore the whole fiscal produce of newspapers to its former amount. In estimating the probable increase in the number of newspapers, I applied a principle on which I subsequently relied in reference to postal reform, viz., that the cheapening of an article in general demand does not as a rule diminish the total public expenditure thereon, the increased consumption making up for the diminished price. Perhaps the actual state of things (1869), though the matter is complicated by the repeal of the advertisement duty, may be regarded as sufficient to show that such expectation was not unreasonable. These views I set forth when I went up in a deputation to the Chancellor of the Exchequer; and the late Lord Monteagle, who then held the office, not only did me the honour to listen with much attention, but requested that he might be supplied with further information on the subject—a request with which I complied as soon as I could collect the necessary materials. The result, as may be remembered, was not the total abolition, but a reduction of the stamp duty, from about threepence-halfpenny (net) to one penny; an excellent measure in itself, yet but feebly tending to that recuperation for which I looked; since the retention of any duty left a serious obstacle to the multiplication of journals, a fact abundantly shown _e converso_ by subsequent events. My argument on the subject will be found in full in the ‘Companion to the Newspaper’ for June 1st, 1834; where also, I may observe, may be seen the first suggestion of stamped covers, though not in relation to letters. The suggestion came from the editor, Mr. Charles Knight, and was indeed in some sort indispensable to the plan of total abolition, since the unstamped newspapers would not be transmissible by post without payment; and this, if made in money, would seriously add to the trouble of transmission. Of course, adhesive stamps were as yet undreamt of. “In looking over the paper referred to, I find that, at the time when I drew it up, London was the only town in Great Britain which produced a daily newspaper; that there were but six other towns with papers issued oftener than once per week; only two of the six being in England, viz., Liverpool and Canterbury.