I plan to glue up 3/4" stock for a full 1 1/2" blank to taper to an 1" for the rail and 1 3/8" base.

That's figuring 7.00/ bd ft for the mahogany I can get locally. Ready made handrails are a really good deal to buy (about 10 bucks a loop?) when you figure time and materials. But I want something that's a little better designed(more surface area at the mounting surface, less space between stands for more strength), and I hope will look better.