COUNCIL roR 1847. 17 



It is satisfactory to observe that the ordinary expenditure of 

 the Society is more than covered by the ordinary income. But, 

 on the General Account for the year, the balance against the 

 Society has been increased by £207. lis. lOd., being, on the 1st 

 of January, 1848, £473. 5s. This increase of debt, however, 

 has not been incurred during the past year. Several trades- 

 men's bills, relating to the alterations in the Mint Yard in 1846, 

 and two accounts connected with the erection of the new hot- 

 houses during the same year, not having been received in proper 

 time, were not included in the account presented at the last 

 Annual Meeting. Had these bills, amounting together to 

 £327. 19s., been paid when due, they would have swelled 

 the balance against the Society in the account for 1846, to 

 £593. 12s. 2d. They are now paid, and included in the 

 balance-sheet now presented ; and are the cause of the apparent 

 increase of the Society's debt. There are also several bills 

 included in the ordinary expenditure of 1847, which ought to 

 have been presented and paid in 1846. Looking to the liabili- 

 ties of the Institution, it must be borne in mind that the Society 

 is under engagement to pay £350. for the purchase of the house 

 adjoining the gateway of St. Leonard's, the site of which will 

 be required for the projected alterations, for completing which a 

 considerable further outlay will be called for. About £100. will 

 also be required for the further restoration of the Hospitium, 

 now in progress. It is therefore probable that the Society is, 

 or will be ere long, under liabilities to the amount of about 

 £1000. Nevertheless, the Council confidently hope that, by 

 strict economy, a considerable surplus revenue may be insured 

 for the gradual liquidation of this debt, and the Society be still 

 retained in a position to employ itself with energy and 

 perseverance in accomplishing the purposes for which it was 

 constituted. 



