f
8
9
re
raised to meet a deficit would constitute a tax on general. venue and therefore from the present point of view - would be unobjectionable, but this case is not likely to oc- our in practice.
A deduction of a percentage n profits also seems to be open to no
on
།
grave objection, ~
provided that such part of
the profit is exempted
exempted as may
be devoted to necessary improve
ments in the service.
628
On the other hand the levying
of
the contribution upon the
gross revenue derived from the Post Office appears to be - equivalent to the exaction from a merchant of 15% of his
capital and income for
J
venture to submit that the
revenue derived from the Post Office (or at least that part of it which is required for penditure.
17
ex-
the Postal Service)
should be regarded as the capital of the Post-using portion
On
of
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