May I take this my first opportunity to thank the Fellowship for their kindness and confidence in electing me President of this ancient and eminent Society, a Society which, after at least two centuries of existence, remains fully involved and influential in all the different disciplines and endeavours that are our concern? I had the privilege of taking office from Dr. A. J. Taylor, a scholar of high repute, particularly in the field of medieval strongholds, to whom all antiquaries, and many others, remain indebted for his achievements in difficult times while Chief Inspector of Ancient Monuments. He watched over the affairs of our Society with awareness and devotion, to the end that he left a sodality in good heart, unburdened by anxieties. For this, naturally I am grateful to him, and in such context it is a pleasure to me to record that during Arnold's Presidency, an eminent and respected historian, whom we all know but shall be nameless, remarked that he believed the reputation of this Society never stood higher than it does in this present decade. Let us not be coy about accepting credit given, and I think due! Looking at the Treasurer, I suggest it bears interest!