30 Memarhs hy the President. [Feb. 



The Publications of the Society had maintained their character during 

 the year. Although occasionally arrears in the issue of the parts un- 

 avoidably occur, still they had on the whole been punctually given to the public. 

 He considered this point of punctuality and regularity of issue one of the high- 

 est importance, and that much in other ways should be sacrificed to it. Much 

 progress had been made, however, and the Journal and Proceedings of the 

 Society were now worthy of the high position which the Asiatic Society 

 of Bengal had always held, as the first of non-metropolitan Societies of 

 Science. The publications were well and sufficiently illustrated, well printed, 

 and altogether highly creditable to the Secretaries who edited them. 



Another source of much gratification was that the Council, besides in- 

 curring this additional expenditm'e, had been able to invest for the Society 

 a considerable sum. He thought the importance of this could not be over- 

 rated: the experience of every Association or Society, no matter what its object, 

 shewed that times of depression or even difficulty will come ; and that unless 

 the Society has in itself some means of maintaining itself during these un- 

 favourable periods, the result may be very serious. In this way the posses- 

 sion of a sufficient fund in vested securities, indej)endent of such temporary 

 changes, acts like the heavy fly-wheel of a large engine ; by steadying the 

 motion, and producing a continuity of the force, which produced that motion. 

 He hoped this investment would be maintained until the Society had an income 

 independent of the varying chance of subscriptions, sufficient to carry them 

 over any such temporary difficulties as might occur. 



The Philological Secretary had told them, of the sound and valuable pro- 

 gress made in the Oriental publications of the Society, and they have been 

 indebted to the several editors of the books for their exertions. 



He would fail, however, in his duty did he not take this opportunity of 

 saying how vastly indebted the Society were to their Honorary Secretaries 

 and other officers. Though an officer of the Society himself, he was sorry to 

 think that the very limited time at his disposal, from other more pressing 

 occupations and also the state of his own health, had prevented his doing 

 much for the Society. But this very fact enabled him to speak with greater 

 force as to the untiring exertions of the Secretaries. At all times and on 

 all subjects, they never ceased to work for the benefit of the Society. It 

 would be in fact impossible for any but those who were, he might say, behind 

 the scenes, to form an estimate of the amount of work which devolves 

 on their officers, and of the readiness and earnestness with which it is not 

 only undertaken, but carried through. And the Society certainly owes 

 to their officers, the most grateful and hearty acknowledgments of their 

 labom-s. 



He would now put to the meeting — That the report of the Council 

 as now read be received and aj)proved. 



The motion was carried imanimously. 



