ANNIVERSARY ADDRESS, 13 
enabled us to claim £500 from Government. We then completed 
the purchase for £3,525, paying down £1,525, andborrowing £2,000 
on mortgage. It is highly desirable that this debt should be paid 
off, and I trust the members will make an effort towards that end 
during the present year. _ Were that accomplished, there would be 
£120 additional for promoting the proper objects of the Society. 
It is the more necessary to get rid of this annual charge for interest, 
inasmuch as, without the Government subsidy which we now enjoy, 
it would be necessary to economise to such an extent as to endanger 
the efficiency of our operations. Now the Government subsidy is 
obviously of uncertain duration—it depends upon an annual yote 
of the Legislature ; and should bad times come, so as to diminish 
materially the public revenue, we must expect to be among the 
first to suffer from the inevitable cutting down of expenditure. 
There is still another reason why something should be done this 
year to add to the building fund. Hitherto a vacant space has 
adjoined the Society’s house on the south side ; it is probable that 
this will now be built upon, and it may be expedient for the 
Society to buy a few feet of the frontage in order to preserve the 
light and ventilation of this hall in which we meet. But without 
additional subscriptions such a purchase could not be made. 
Might I venture to suggest that the old members who pay only 
one guinea per annum should for at least this year double their sub- 
scription to help us in reducing our debt. 
To conclude now what I have to say on the financial progress 
of the Society, I will state the ordinary income and expenditure 
(omitting building fund) for each of the past six years, being 
the time that we have occupied the present building ; and to that 
I will add the number of ordinary members elected each year. I 
throw these statistics into tabular form :— 
Income— , s 
Year. From Members. From Government. Expenditure. New Members. 
1875 gee ‘ 41 
1876 -. 413 a as me 389 ee 
1877 v. 433 Bi ms | ee 70S 238 62 
1878 iene SAG ae a Sia 581 eee 78 
1879 ae |. eee Zr. wie we 51 
1880... 605 — yi a 812 wb 38 
