---------------------------------------------------------------------------- Railway Company. |Total amount|Average |Saving of the | Amount annually |of Debenture|rate of | Companies | payable by the | Loans. |Interest.| by | Post Office for | | | paying only | Conveyance of | | |3-1/4 per cent.| the Mails under | | | |the latest awards | | | | or agreements. ------------------+------------+---------+---------------+------------------ | £ |Per Cent.| £ | £ Caledonian | 2,262,426 | 4.5 | 28,280 | 23,710 Great Western | 10,083,710 | 4.57 | 133,104 | 18,252 London and North-}| 10,975,589 | 4.3 | 115,243 | 56,500 Western }| | | | London and South-}| 2,400,416 | 4.31 | 25,444 | 14,780 Western }| | | | Midland | 4,151,556 | 4.28 | 42,761 | 23,412 North-Eastern | 6,833,642 | 4.36 | 75,853 | 34,380 South-Eastern | 2,709,468 | 4.61 | 36,848 | 14,624 ---------------------------------------------------------------------------- The annual payments for the railway postal service amount to about £400,000. The general adoption of the above plan would (the service remaining the same) reduce this amount probably to about £150,000. To obtain the concurrence of the companies it would be necessary, probably, for the Government to advance gradually, as the existing bonds fall due, about £30,000,000 in the aggregate, or rather less than two-fifths of the present amount of railway debentures. This advance, taking the saving of the companies at only one per cent. on the average, would reduce their expenses by £300,000. And as their receipts from the Post Office would be reduced, say by £250,000, the balance would give a direct gain to the companies of £50,000 per annum. But I am assured by gentlemen well informed on the subject, that the companies would also be benefited indirectly as regards the terms on which they would be enabled to raise the remainder of their loans.