[236] 



CANADIAN INSTITUTE, 



EEPORT OF THE COUNCIL FOR 1880-81. 



The Council of the Canadian Institute in .presenting their Thirty Second 

 Annual Report, are gratified in being able once more to congratulate the Insti- 

 tute on another year of satisfactory work throughout the Winter Session. 



The advantages resulting from the admirable accommodation for all the 

 ordinary meetings of the Institiite which the new building supplies, fully 

 justify the action of the Council in recent years in inciirring an outlay neces- 

 sarily involving a burden of debt, which must continue for some time to 

 hamper the action of the Institute in various ways ; and especially to absorb 

 to a large extent the funds which would otherwise be available for the import- 

 ant object of the 'printing proceedings. So important has it appeared to the 

 Council to reduce the debt as speedily as possible, that however reluctant to 

 delay the issue of their printed proceedings, they have allowed a year to 

 elapse without any new issue. This has enabled the Treasurer to devote the 

 money to the reduction of the debt, and the Council have accordingly the 

 satisfaction of reporting a diminution of the capital sum due, and a corres- 

 ponding reduction of the annual charge payable on the mortgage effected on 

 the building. 



The debt remaining at the close of the last financial year amounted to 

 $5,500, involving an annual payment of interest of $4-40. Since then the 

 Treasurer has made a furtlier payment of $500 in reduction of the mortgage 

 debt, reducing it to $5, 000 ; and also has effected an arrangement whereby the 

 annual interest is reduced from 8 per cent, to 7 per cent., making the amount 

 of present annual interest $350. 



It is inevitable that the existence of a debt involving an annual charge which 

 absorbs to so large an extent the annual surplus over and above ordinary 

 expenditure, must hamper the exertions of the Council and of all the mem- 

 bers of the Institute ; and greatly diminish its efforts in the cause of Canadian 

 Science and Letters. The Council accordingly recommend to their successors 

 and to thfe members at large, a renewed effort for the reduction of this debt, 

 so as to place at their disposal an annual revenue adequate for the printing of 

 the proceedings, and the carrying out on an adequate scale the legitimate work 

 of the Institute. 



Appended to this Report are abstracts showing — (1) The present condition 

 of the membership, including 124 ordinary and life members ; (2) The Papers 

 communicated at the meetings during the year ; (3) The additions to the 

 Library during the same period, and (4) The Treasurer's balance sheet, with 

 a report of the receipts and liabilities of the Institute at the present date. 



All which is respectfully reported. 



DAN. WILSON", 



President. 



