204 THE EARLY HISTORY OF [CHAP. IV. 



loss, however, it is hoped, will be inconsiderable, as by a 

 plan recently brought forward by a very scientific member 

 of the Committee of Managers (Mr. Hatchett), it is pro- 

 posed to form for the use of proprietors, and for the benefit 

 of the Institution, in these and the adjoining rooms, the 

 establishment of a very extensive and useful laboratory, 

 upon a scale of magnitude and with a degree of advantage 

 that are not likely to be equalled in any part of his Majesty's 

 dominions.' 



After reviewing the domestic expenditure and the 

 expenditure of the invested principal Mr. Bernard said : 



Upon the whole the visitors have the pleasure of stating 

 to the annual meeting that, in the examination of the ex- 

 penditure incurred in a concern of so great magnitude, 

 under some peculiar circumstances and difficulties and 

 during a period of near four years, they have found the 

 ;whole of the accounts correctly stated, verified, and balanced 

 except as to a small deficit of 47Z. 14s. 10-^cL entered as 

 such by mistake, the vouchers for which having been 

 actually produced ; and they conceive that there is no- 

 thing that merits censure and much that deserves appro- 

 bation, 



With regard to the present state and progress of the 

 Institution he said : 



In the supply of useful models, one of its original and 

 most important objects, very little advance is yet made. 

 The lectures and public experiments connected with them 

 will be considerably augmented in the coming season. The 

 new plan for the laboratory promises to increase the scope 

 and utility of it, and at the same time very much to dimi- 

 nish, if not eventually provide for, the expense of that part 

 of the Institution. The library and proposed collection 

 of books of reference will form a library establishment 

 honourable to the British nation, favourable to science, 



