Horticultural Society and Garden. 287 



lows of the Society such information as they had a right to expect. The 



Committee observe, in the audit-sheet of May, 1826, thefollowing entries : ■ 



" The Society is indebted to various persons about 2800/." " The So- 

 ciety is indebted on bonds, to Fellows, 550/." By a statement of the simple 

 contract debts of the Society produced before the Committee, it appears 

 that the Society was then [viz. in May, 1826] in debt not 2800/., but 3914/. 

 3s. \0d., exclusive of garden debts, which, at that period, amounted to 

 3483/. : making the whole of the simple contract debts then due 7397/. 3s. 

 lOd. In addition to the 550/. stated to be due on bonds to Fellows 

 (balance of money borrowed for the purchase and fitting up of the house), 

 11,000/. was then due on bonds on the garden account. [Thus, while, by 

 the audit-sheet of May, 1826, the Society appeared to be in debt, in all, 

 2800/. and 550/., equal to 3350/., it was in reality indebted to the enormous 

 amount of 7397/. 3s. \0d. and 11,000/., equal to 18,397/. 3s. 10d.] 



The Accountant of the Society considers that, from the way in which the 

 books of the Society were kept, no Fellow of the Society could have been 

 aware of the state of its debts, because no book of debts was kept. 



The Committee hesitate not to advise, that no auditor should hereafter 

 be appointed who is a member of the Council or of the Garden Committee ; 

 and that the auditors (appointed annually at a General Meeting) should not 

 merely compare the treasurer's accounts with the banker's books and the 

 vouchers, but should examine the bills, enquire into the debts, and remark 

 upon the expenditure of the Society ; and that they should have power to 

 suggest, from time to time, alterations in the form of keeping the accounts 

 or of preparing the audit-sheets, which they might deem best calculated to 

 convey correct information to the Fellows of the Society. 



Debts and Assets. — The debts of the Society amount to 14,200/. on bond, 

 of which 1 1,700/. were incurred on account of the garden. The simple con- 

 tract debts amounted to 5507/. on the 31st of December last; and, in con- 

 sequence of the advertisement directed to be inserted in the public papers, 

 only 47/. 2s. 8d. of debts not previously delivered in have been claimed : in 

 all, 19,754/. 2s. 8d. 



The assets of the Society are estimated at 16,500/., exclusive of the sub- 

 scriptions payable in May next. 



Retrenchment. — The Committee are of opinion that a saving of not less 

 than 2120/. per annum may be effected. 



Estimate of future Income and Expenditure. — ■ The average income of the 

 Society amounted, for the last three years, to 7900/. ; but the Committee 

 have thought it more prudent, and with a view to calculation of expendi- 

 ture, not to estimate the future income of the Society at more than 6000/. 

 The Committee consider that all the expenses ought to be, and may be, 

 brought for the future within a sum not exceeding 4000/. a year. They hope 

 they may fairly calculate on a surplus income of 2000/. per annum at the 

 least, to be applied to the payment of interest and capital of debts. 



Management. — The Committee conceive that the embarrassments of 

 the Society have chiefly arisen from the imprudence of the Council in 

 taking a garden on so large a scale, without having secured adequate funds 

 either for its formation or maintenance. The cost of the formation, and ex- 

 penses of cultivating and maintaining the garden for the eight years from 1822 

 to 1830 have exceeded the amount of all separate subscriptions for the form- 

 ation, annual subscriptions, admission fees, produce sold, and incomings of 

 every description for the same period, by the large sum of nearly 29,000/. 



The Committee believe that the gardener has been too much under 

 control, as he has not the power to appoint, promote, or dismiss his 

 labourers, and, consequently, is deprived of proper influence over them ; 

 nor can he direct works to be done in the garden without a previous 

 report to the Secretary, and a subsequent permission granted by him. 

 They further believe that such and other multiplied and useless reports 



