PREFACE. D URING the period included in last session a committee was formed for investigating the financial position of the Institute, with a view to equalising the income and expenditure more nearly than at present. Owing to the excess of the latter over the former, the Council requested the Trustees to sell out a sum of £200 consols from the reserve fund, and this, owing to the low price of consols, only produced £198 3s. 7d. At the same time, in order to still further meet our obligations, an appeal was issued to Members and Associates, which up to the present has brought in the sum of £46 10s. 6d. I cannot suppose that this sum represents the extent to which our adherents are able and willing to help the Institute to maintain its position. Amongst the numerous appeals which are constantly being made to them for objects more or less worthy, it is probable that this appeal may have escaped the notice of many who would be willing to subscribe. A list of subscribers is appended to the Report, and is still open. Our main cause of expense is the heavy rent of our offices. Yet, their desirable and convenient situation, and their long association with the Institute, induces the Council to hesitate before removing to other offices less expensive but less eligible. Personally, your Secretary, whom the Committee kindly took into their counsels, feels the greatest disinclination to move to another office, and has offered to relinquish a considerable part of his salary in order to ease the financial situation. This proposal, however, the Council would not accept, and so the matter stands. It should be stated that during the examination of the accounts 186337 the Finance Committee made full enquiry as to the possibility of reducing the expenditure on printing, amounting to £131 10s. 3d. for the past year. But, on comparing the estimates of Messrs. Harrison and Sons, who have for many years past been the firm employed by the Institute, with those of several other London firms, it was found that those of Messrs. Harrison and Sons were more favourable than those of their competitors, and it was resolved unanimously to retain their able and efficient services. From the above statement it will probably be allowed that there is no unnecessary expenditure in carrying on the work of the Society. What is required is an increase of funds, which may be obtained by an increase of Membership from those who are now Associates, and additional adherents from amongst those who approve of our objects, but have not yet seen their way to join our ranks. EDWARD HULL, LL.D., Secretary and Editor. |