As regards net revenue, I expressed an opinion to the effect that the great increase of letters necessary to make good the gross revenue would require an additional expenditure of about £300,000 per annum, and, consequently, that the net revenue would be reduced by that amount, or to about £1,300,000 a year. The actual increase of expenditure, however, owing to causes already mentioned, far exceeded my estimate; consequently the net revenue of the same year (1851) was only £1,118,000,[157] and it was not till six years later that it rose to £1,300,000.[158] And though, as must be obvious to the attentive peruser of the foregoing pages, these results, but for almost endless obstructions, would have occurred at a much earlier date, it was with deep satisfaction that I at length saw my predictions fulfilled. I may add here that in the year 1862, the net revenue so far exceeded any expectation that I had held out as nearly to equal the largest amount obtained under the old high rates;[159] and that ever since that year it has greatly exceeded that amount. Of course these comparative statements are all based on the mode of calculation which was in use at the time when penny postage was adopted. When, however, my predictions with regard to revenue were fulfilled beyond all question, we thought it would be well, while retaining the old mode of reckoning for the purpose of showing progress under the new system as compared with the old, to introduce a more accurate mode, for the purpose of exhibiting as nearly as possible, the actual financial results of postal operations; and the results thus arrived at were given, for the first time, in the Report for 1859. By this changed mode of reckoning, which is set forth in some detail in its proper place,[160] it appears that the amount to which the Treasury was actually benefited by the Post Office, though rather less than that arrived at by the old mode of reckoning, was still more than £1,100,000. Of course, when comparison with the past is not in question, the amount thus ascertained is the one which it is best to take. It may be added that the substantial part of this revenue, viz., about £1,000,000, was derived from inland correspondence; to which, as the reader may remember, I had always pointed as the main source of actual income. STAFF. _Promotion by Merit._