Council, in 1831, and persevered in during the past year^ 

 to invest in the Funds one-fifth of the gross Receipts from 

 every source of Income. The sum so invested in 1832 was 

 £2618 2*. lOc-^., and there is yet a further sum to be invested 

 as soon as it is rendered convenient by the increased Re- 

 ceipts of the Siunmer Months. The Council became con- 

 vinced, at a very early period, that to enable them to 

 withdraw from applicability to general purposes so large a 

 portion of the Income, it was necessary that they should 

 adopt great caution in avoiding expenditure ; and they ab- 

 stained accordingly from engaging in various works and 

 buildings which, although important for the accommodation 

 of the animals and for the embellishment of the Gardens, 

 might either have prevented them from making the in- 

 vestment, or have involved the Society in debt. They have 

 felt fettered during the past year by the restriction which 

 they placed upon themselves, but satisfied that its result 

 must be highly advantageous to the Society, in securing it 

 against any sudden reverse, they have strictly adhered to it. 

 Its consequence must be as satisfactory to the Society at 

 large as it is to the Council. 



With abstinence from fresh sources of expenditure, the 

 Council endeavoured to combine economy in those of ab- 

 solute necessity. They disposed of duplicate animals from 

 the collection by Auction. They made reductions, on the 

 recommendation of the Farm Committee, in the establish- 

 ment at Kingston Hill, and limited the expenditure in that 

 department to an amount considerably within that previ- 

 ously incurred in it : and still more recently they have re- 

 duced it yet further. By these reductions and by continued 

 economy they hope to be enabled to proceed gradually to- 

 wards the completion of the works of formation at the 

 Gardens, and to secure in a few years the full and beneficial 

 occupation of the ground, without infringing on the prin- 

 ciple of investment. 



In the investigation of the contracts, renewed from time 

 to time, under which the provisions, materials, and other 



