We begin another session in the fifth year of this unparalleled war with the certainty that freedom, justice, and the rights of small nationalities, for which the Allies have so bravely fought, will ultimately triumph. The administration of the affairs of the Society under conditions so abnormal has caused considerable anxiety. The great increase in the cost of paper and printing compelled the Council last session to limit the expenditure on the Transactions and Proceedings. By adhering rigidly to certain resolutions which they laid down, they have enabled the Treasurer to present a more favourable financial report than was expected.