The Conference recommends that all Imperial communi- cations should be
merged in one huge Corporation. In order to bring this about it will be necessary, of course, for the Post Office to give up its highly profitable beam service. A Communications Company will be formed with the powers of a public utility company. This Corporation will have a capital at the outset of £80,000,000. It will rent the beam service from the Post Office for twenty-five years. As a monopolist company the Corpora- tion will be required to submit to a certain State control. The standard revenue will be fixed at approximately 6 per cent. Fifty per cent, of any surplus profit will be allotted to such purpose as the Advisory Committee may "determine, and the other 50 per cent. will go to the shareholders. The Advisory Committee will represent the public and will have authority to regulate the rates of messages. The public is further protected by the 'provision that the appointment of two directors of the Corporation (including the Chairman) shall be approved by the Government. All this is as practical and modern 'as it can be. The whole business is to be amalgamated- "" rationalized "—and the admitted dangers of a monopoly are recognized and minimized.
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