When I addressed you at the Anniversary Meeting a year ago I mentioned several matters of policy which your Council had been considering, and on which I said that I hoped to have more to tell you in a year's time. The factual record of progress in these matters is mostly contained in the Report of Council and in the Treasurer's statement on the year's accounts which you have already received this afternoon. But I would like to go into a few of them in rather more detail now, partly because you are entitled to have a fuller explanation of their significance than can be given in this way, and partly because this Address, when printed in the Journal, is the most convenient vehicle for conveying such matters to the attention of Fellows who for one reason or another are unable to be present in person at the Anniversary Meeting.