276 
MINUTES  OF  THE  COLLEGE. 
finances  at  this  time  was  the  unprecedented  rise  in  the  value  of  paper,  all 
of  which  influences  compelled  the  Treasurer  to  report  in  March,  1866,  a 
reverse  balance  of  $L94.38.  The  printers  bill,  which  in  1864  was  $947.25, 
increased  in  1865  to  S1216.00,  in  1866  to  $1686.07,  in  1867  to  $1768.87, 
and  in  1868  to  S1848.78,  as  has  been  stated.  In  consequence  of  this  in- 
creased expenditure,  notwithstanding  a  large  increase  in  the  subscription 
list,  the  balance  due  the  Treasurer  in  1867  was  $367.93,  which  increased 
to  ^570  in  1868.  in  March  last,  when  the  Treasurer  was  again  authorized 
to  draw  on  the  Label  Committee  for  that  amount.  It  is  proper  to  state 
that  the  edition,  which  in  1861  was  twelve  hundred,  in  1865  had  gradually 
been  reduced  to  nine  hundred,  and  now  has  increased  to  fourteen 
hundred.  We  have  now  come  to  the  current  year  ending  with  the  meet- 
ing to-night.  In  November  last,  on  the  retuin  of  the  Treasurer,  after  a 
long  absence,  the  payments  had  been  so  tardy  that  the  accounts  showed 
a  balance  against  the  Committee  of  $375,  with  printing  bills  for  nearly 
seven  hundred  dollars  awaiting  payment.  Earnest  measures  were  imme- 
diately taken  by  the  Treasurer  to  promote  the  collection  of  subscriptions 
due  the  Committee,  and  the  Treasurer's  report,  to  be  read  presently,  will 
exhibit  how  well  his  efforts  have  been  rewarded,  by  showing  a  cash 
balance  in  favor  of  the  committee  of  $34.88,  the  collections  since  Novem- 
ber last  amounting  t©  more  than  $1900. 
In  taking  a  retrospective  glance  at  what  has  been  said  in  this  report,  it 
will  appear,  ^rs^/_i/,  that  within  the  last  thirty  years  the  Journal  has  re- 
ceived no  aid  directly  from  the  College  treasury;  secondly,  that  it  has 
received  aid  on  two  occasions,  by  order  of  the  College  from  the  funds  in 
the  hands  of  the  Treasurer  of  the  Label  Committee,  amounting  to  S930.80  : 
thirdly,  that  during  the  same  period  and  at  various  times  when  the 
College  needed  aid,  the  Trea  urer  of  the  Publishing  Committee  paid  into 
the  treasury  of  the  College  $900  in  cash  ;  and  within  the  last  fourteen 
years  has  furnished  to  members  about  fourteen  hundred  volumes,  the  sub- 
scription value  of  which  amounts  to  more  than  $4200.  In  view  of  these  facts, 
it  is  believed  to  be  a  reasonable  expectation,  when  such  difficulties  again 
beset  the  Journal  as  have  assailed  it  during  the  past  eight  years,  that  the 
College  should  pay  the  Committee  for  the  subscriptions  of  members.  It  has 
been  the  desire  of  the  Committee  generally,  and  of  many  members  of  the 
College,  to  have  the  business  of  the  Journal  transacted  at  the  College 
Ball  by  a  competent  actuary  having  this  and  other  duties  ;  but  as  that  is 
not  possible  at  present,  the  Treasurer  has  agreed  to  continue  his  exertions 
as  regards  the  financial  and  distributional  departments  of  the  Committee 
until  the  Publishing  Committee  may  deem  it  for  the  best  interests  of  the 
journal  to  adopt  another  plan. 
William  Procter,  Jr. 
March  29^/i,  1869. 
The  Committee  on  Ways  and  Means  reported  progress.  The  resigna- 
tions of  A.  T.  Hazzard  and  John  C.  Savery  were  read  and  accepted  ;  the 
resignation  of  Mr.  Hazzard  to  take  effect  from  its  date,  Sept.  25th,  1868. 
