JunE 14, 1901.] 
borne excellent fruit in the increased patron- 
age of our medical schools from the far 
south, in the improved status of Ameri- 
can medical practitioners in Latin Amer- 
ica, in a better understanding of quaran- 
tine questions in the different countries, 
and in the development of a concert in the 
investigation of the medicinal flora of the 
Western Hemisphere. Our relations with 
the medical profession of Canada must be 
of increasing intimacy, and I indulge the 
hope that, while maintaining the national 
limitations of our Association for delegate 
and legislative purposes, its membership, 
with the privilege of participating in all 
scientific matters, may be freely opened to 
our brethren who live beyond our immedi- 
ate borders. 
FISCAL AFFAIRS AND THE JOURNAL. 
It has passed into unwritten law, born of 
the gradually developing features of our or- 
ganization, that your president shall restrict 
his annual address to a discussion of the 
affairs of the Association and to the great 
object to which, by the terms of its Consti- 
tution, it stands consecrated—‘ the com- 
mon interests of the medical profession in 
every part of the United States.’ In com- 
pliance with this rule, and realizing that I 
am leaving scientific questions to be pre- 
sented by orators appointed for the purpose, 
I have pleasure in calling your attention to 
the satisfactory condition of the affairs of 
the Association, as indicated by the con- 
solidated report of the Treasurer and of the 
Board of Trustees. From it you will ob- 
serve that under the judicious management 
of your Board of Trustees you had a cash 
balance at the end of the last fiscal year of 
$31,004.67, being an excess of $3,696.66 
over the preceding year. Your plant has 
been increased in value to the amount of 
nearly $10,000.00, and the net profits of 
the Journal amounted to nearly $14,000.00. 
You will be gratified to realize that, in ad- 
SCIENCE. 
925 
dition, you have safely invested as part ofa 
fund with which to buy a home for the 
Journal and for the Association, the respect- 
able sum of $25,000.00. If, however, you 
have occasion to feel satisfied with the nor- 
mal condition of your finances, you must 
contemplate with pride the rapid increase 
of your Journal, in quality, size, circulation 
and influence. The average weekly circu- 
lation grew, during the last fiscal year, from 
13,672 to 17,446, and I have added pleasure 
in informing you that, since the period 
covered by the report, the weekly circula- 
tion has grown to 22,000 copies. For the 
accomplishment of these splendid results, I 
feel that you will join me in hearty ac- 
knowledgment, not only of the sagacious 
management by the Board of Trustees, but 
the tireless industry and the discreet direc- 
tion of our accomplished editor, Dr. George 
H. Simmons. 
I feel that it is important, however, to 
call your attention to the fact that it would 
have been impossible for your Board of 
Trustees to have accomplished these results 
if, through its action, the Association had 
not become incorporated. Leases were to be 
executed, purchases were to be made, con- 
tracts were to be entered into, money was 
to be loaned and bonds were to be exacted, 
to do all of which it was necessary that the 
Association should become a legally organ- 
ized corporation. This was affected, ad 
interim, by the action of your Board of 
Trustees, which procured articles of incor- 
poration under the laws of Illinois, bearing 
date of April 14, 1897. I am not aware 
that this fact, attested by the document 
which I have laid before the Executive 
Committee, has ever been confirmed by the 
vote of the Association. I recommend, 
therefore, that such action be taken at the 
present session. 
If, however, the condition of the Associa- 
tion, and particularly of the Journal, is, on 
the whole, occasion for much satisfaction, 
