60 
The Presidenfs Addi^ess. 
them/ A copy of the Transactions (to which every member 
whose subscription is not in arrear is entitled) has been regu- 
larly forwarded as soon as published^ and with it the accom- 
panying number of the * Quarterly Journal of Microscopical 
Science/ which is paid for from the funds of the Society. 
The Council recognise the Journal as a valuable instrument 
for advancing microscopical science, and believe that it is 
within the spirit of the intentions of the founders of this 
Society that its funds should be liberally used to promote its 
success. The existing arrangement has been in operation 
since 1854; its cost, however, is now far greater than was 
contemplated, and the propriety of appropriating so large a 
portion of the Society^s funds to this one object has been 
anxiously considered by the Council, and has long been a 
subject of grave deliberation. 
The continual increase of this item will be seen on com- 
paring the charge on this account at intervals of three years. 
In 1853, the cost of publishing the Transactions was 
£65 lis. M. In 1856, the payment to Mr. Higliley for 
Transactions and Journal was <£84 17^. 6d. In 1859 the 
amount had risen to £129 4^. — more than one- third of our 
expenditure. In 1860 this item amounted to £132 18s. 2d. 
In 1861, £137 19^. 7d. In 1862, the year just ended, it is 
£186 Ss. I now wish to remind you that the continuance of 
this arrangement is contingent upon the state of our funds 
being such as will admit and justify the expenditure. 
The high price claimed by the present publisher for all 
beyond the 200 copies named in the agreement, increases the 
cost far beyond the original estimate. Though the Council 
have not yet succeeded in obtaining more favorable terms, 
they are not without hope that all concerned will see that the 
present charge is greater than the income of the Society 
enables it to pay. 
The virtual operation of the present arrangement is to 
reduce the annual subscription of each member to less than 
half a guinea, which is clearly insufficient to enable the Coun- 
cil to meet the necessary expenses, and advance as they would 
wish other objects which deserve attention, and are as well 
entitled to some portion of the funds. 
Officers — Treasurer. — The office of Treasurer beecomes va- 
cant this evening, by the retirement of Mr. Ward, who wishes 
to be relieved from duties which, as years advance, he feels 
to be onerous. He has been the Treasurer of the Society 
from its commencement ; and for the satisfactory manner in 
which he has for so many years discharged the duties of a 
