SYNOPSIS OF PROCEEDINGS. 239 



found itself without sufficient funds to publish the great work of Sir 

 Isaac Newton, and was compelled to accept the generous contribution 

 of the noted astronomer, Edmund Halley, to enable it to give to the 

 world the most wonderful discovery ever made on this planet, every 

 dollar of the financial obligations thus incurred became radiant as a 

 star. Thus it is, while the cash system furnishes a good rule of con- 

 duct, it is undoubtedly true that in the history of a scientific society 

 exigencies may arise when it is justifiable to anticipate future resources, 

 but ceaseless care should be observed that no indebtedness is incurred 

 which can be set down by the most captious as improvidence. 



It will be unnecessary for me to go over the financial details of the 

 past year, as they have been clearly presented in the Treasurer's report. 

 It appears therefrom that our stated income has been insufficient to 

 meet all necessary expenses, thus leaving a small balance of indebted- 

 ness; but it is evident from the reports of the Librarian, Curator, and 

 Publication Committee, that there has been no unwise expenditure. 

 The generous patrons of the Academy have, however, recently inaug- 

 urated a scheme which will, in a large measure, relieve it of these small 

 financial embarrassments. A subscription has been started, and has 

 already received the signature of many influential citizens, whereby the 

 subscribers obligate themselves to pay, for five years, an annual amount, 

 the aggregate of which, with the sums received from yearly dues of 

 members, will be sufficient to meet all ordinary expenses. 



These financial drawbacks sometimes seem to be serious obstacles 

 in our pathway, but in surmounting them it may be we are acquiring 

 that hardihood which insures ultimate success. In moments of dis- 

 couragement it will profit us to recall the like experiences of other and 

 older societies which have become famous in the world's history. Take 

 for example some of the well-known societies of London, England — 

 such as the Royal Society, the Royal Institution, the Society of Arts, the 

 Institution of Civil Engineers, the Chemical Society, the London Insti- 

 tution, the Birhback Institute, the Society of Telegraphic Engineers, the 

 Museum of Practical Geology, the Statistical Society, and the Royal 

 Geographical Society. All these famous institutions have been, like our 

 own, inaugurated and conducted through private enterprise, and with- 

 out government aid, with perhaps the exception of the last named, 

 which has, I believe, received a small subsidy. In reviewing the his- 

 tory of these institutions we find their experiences not unlike our own, 

 and the narrative of some of their financial difficulties reads like a page 

 from our own records. Thus, in explaining the inability of the Royal 

 Society to publish the immortal "Principia" of Sir Isaac Newton, it is 

 stated as a reason that "the finances of the institution had been so ter- 

 riably depleted that even the salaries of the regular officers were in 

 arrears. Members did not pay their subscriptions, and some of them, 

 like Newton, were specially exempted from payment of their yearly 

 fifty-two shillings, on account of the inadequacy of their means." This 

 great institution, however, surmounted all these financial tribulations, 

 and became the leader in scientific progress throughout the world. So 

 great and important, indeed, have been its achievements that in com- 



