, that by a vigorous
economy its present income might be rendered adequate to all its real
wants, and the aggregate expenditure might be considerably diminished by
many small but wholesome retrenchments.

It appears, from the accounts of last year, that although 1200L. was
received for compositions, in addition to the standing income, and usual
contributions, &c., and although no money was invested, yet there was a
balance only of a few pounds at the end of the year. It further appears,
that 500L. was paid for the paper, 370L. for engravings, and nearly
340L. for printing; and from those alarming facts, your Committee submit
to your consideration, whether the expenditure might not be beneficially
controlled by a standing Committee of Finance.

In obedience to the latter part of your resolution, your Committee now
proceed to offer some further suggestions for your consideration.
They conceive that it would afford a beneficial stimulus to individual
exertion, if the Fellows who have received the medals of the Society,
and those who have repeatedly enriched its Transactions, were
distinguished by being collected into a separate and honourable list. It
would also be found, perhaps, not less a future incentive than an act of
retrospective justice, if the names of all those illustrious Fellows who
have formerly obtained the medals, as well as of all those individuals
who have been large benefactors to the Society, were recorded at the end
of the list. It would be a satisfactory addition likewise to the annual
list, if all those Fellows who have died, or had been admitted within
the preceding year, were regularly noticed. And your Committee think,
that these lists should always form part of the Transactions, and be
stitched up with the last part of the volume.

It requires no argument to demonstrate that the well-being of the
Society mainly depends on the activity and integrity of its Council;
and as their selection is unquestionably of paramount importance, your
Committee hope that our excellent President will not consider it any
impeachment of his impartiality, or any doubt of his zeal, if they
venture to suggest, that the usual recommendation to the Society of
proper members for the future Council should henceforth be considered as
a fit subject for the diligent and anxious deliberation of the expiring
Council.

There is another point of great moment to the character of the Society,
and to the dignified station it occup