2 ANNIYERSART ADDRESS. 



Tou have heard from the Treasurer what is our pecuniary 

 condition. Considering the expenses which were incurred for 

 furniture and other unavoidable demands upon us in the form of rent 

 and other necessary obligations, it would seem that the Society's 

 finances are in a satisfactory state ; as the bank balance is now 

 somewhat in advance of what it was in May, 1875, whilst the 

 assets exceed the liabilities. But in consideration of future con- 

 tingencies, of which I will speak presently, economy will have to 

 be used if we are to continue as a self-supporting body. 



It is a great mishap that so many former members, some of 

 whom were included in our last year's registration, should have 

 induced the Council to put in force a regulation of the Society 

 which, after notice given at the last Anniversary and not responded 

 to, required the removal of their names from the list. 



I express my regret at such necessity ; but under our present 

 constitution, not only was the measure justifiable, but it must be 

 apparent to each of us that to join any Society which must be 

 self-supporting, on a pledge implied by the rules of election, and 

 to obtain membership by the implied condition of a small annual 

 contribution, and then to ignore not only the obligation itself 

 but continued reminders of it, is suicidal to the respect due to 

 those who regard a " debt of honor" as imperative as any 

 ordinary obligation in life. And it is also plain, that if we all 

 acted in this way the Society itself would collapse by an act of 

 general bankruptcy. 



I am glad, however, to find that notwithstanding this secession 

 and additional losses by death, our numbers are still on the in- 

 crease, and the roll of members now contains 170 names. Forty 

 new members have been elected since the last Anniversary, and 

 there are some fresh ones elected this evening, and others coming 

 forward. 



Having got over this difficulty, and having, as our statistics 

 show, met the demands consequent on the advantages derivable from 

 our better arrangements in respect of house accommodation and 



