president's address. 



the United States, and Canada. Fortunately a number of Parts 

 ■of the same issue had been sent by post, so that the package 

 forwarded by the China was smaller than usual. A duplicate set 

 was afterwards despatched to replace the publications thus lost. 

 The package was insured but the amount of the insurance is but 

 a fraction of what it would cost to republish the Part, upon 

 the surplus stock of which a rather serious inroad has been made. 



Reference has already been made to the practically stationary 

 condition of the Members' Roll. At a Special General Meeting 

 to be arranged for at an early date, you will be asked to consider 

 a recommendation from the Council that the operation of Rule 

 vi., in so far as it relates to entrance fees, be suspended during 

 the current year. With the same amount of capital invested, the 

 Hon. Treasurer has had to struggle for several years past with a 

 diminution in the annual income of about £200 per annum, due 

 to the fall in the rate of interest on sound investments since the 

 recent commercial crisis. 



Tlie annual subscription for original members {i.e., those who 

 joined in 1874) was one guinea, without entrance fee; from 

 1875-84 one guinea, with an entrance fee of one guinea. In 1885 

 this was altered to two guineas per annum, without entrance fee; 

 and for Associate Members one guinea, without entrance fee. 

 From 1893 to the present time the rates have been one guinea 

 for all Members, with an entrance fee of two guineas for new 

 Members ; for Associate Members, one guinea, with an entrance 

 fee of one guinea. In other words, under the present regime a 

 Member pays for the first two years the same amount and no 

 more than he would pay in the same period with an annual sub- 

 scription of two guineas, without entrance fee, while thereafter 

 he would pay only half. This alteration was made after the 

 Society came into possession of the gifts and bequests of the late 

 Sir William Macleay, but before the commercial crisis; and was 

 adopted without hesitation, though at the time it was evident 

 that it would involve a slight diminution in the annual income. 

 It was meant to be an expression of the feeling that it would 

 harmonise with Sir William's liberality to the Society if financial 



