Society received so large an addition to its funds from the testamentary acts of its friends. The time has come when the disciples of Christ, possessing this world's goods, not only while living, remember the cause of Zion by their charities, but when dying, leave in its behalf their prayers and alms to ascend together as an acceptable memorial before God.

Loans refunded.

The loaning system to a greater or less extent has been in operation fifteen years. During this time it has been fully tested, and proved to be the best course that has been devised for the accomplishment of the following objects;—the industry, economy, independence, health, morals and religion of the beneficiaries; the increase of funds; the prevention of impositions and abuses in various ways; the satisfaction of clergymen generally, especially those who by great efforts and sacrifices educated themselves; also those who, by assistance received from the Society, obtained an education for the ministry, but on account of health or some other good reason, have been prevented from preaching the gospel of Christ; financial men, too, and those in particular who contribute to the funds. Indeed, it is believed, that the Society could not exist and flourish on any other than the loaning system. Difficulties innumerable would arise without this plan of procedure. Fifty individuals have the last year refunded $2,957 14, thus helping to replenish the treasury of the Lord, and carrying forward this great cause of benevolent effort. The whole amount which has been refunded is as follows; During the eleven years preceding April 30, 1826, $339 60-1827, $90 00-1828, $864 22 -1829, $830 91-1830, $1,007 84-1831, $2,647 63—1832, $1,312 77-1833, $2,113 27-1834, $1,947 78-1835, $2,957 14-making $14,111 16.*

Expenditures.

The expenditures for the year have been $68,443 32. This sum added to the debt of the Society the last year, $5,225 71, and the amount will be $73,669 03. Subtract $72,589 90, the receipts for current use, and there remain $1,079,13, the present debt of the Society. Remittances to a large amount have been made during the year from the treasury of the Parent Institution

Appendix D.

to Branches and Societies connected with it. Some have sustained their own beneficiaries, and transmitted a portion of their collections to the general treasury to meet the necessities of others.

Amount of earnings.

In the Rules of the Society, bodily exercise and productive labor are enjoined: "It is desired and expected of all under patronage, that a portion of every day will be employed, as there may be opportunity, in useful exercise and in productive labor with a view of promoting vigorous health, and of enabling them to do something towards defraying the expenses of their education." It is interesting to learn, that beneficiaries are disposed to comply with this injunction, and to exert themselves for their own support. The amount earned by labor, school teaching and other services is highly creditable to them and shows in part the happy effects of the loaning system. This in a great measure throws them upon their own resources, and induces them to make personal efforts, and to practise self-denial and economy. The sum of earnings reported from year to year, for the last nine years follows, viz. 1827, $4,000 -1828, $5,149-1829, $8,728-1830, $11,010-1831, $11,460-1832, $15,568-1833, $20,611-1834, $26,268-1835, $29,829. The whole amount is $132,623.

Obligations cancelled.

The Board of Directors have ever been liberal in cancelling the notes held by the Society against its beneficiaries. They have uniformly, upon request, given up the interest on all notes against Home and Foreign Missionaries, and suspended the payment of the principal, so long as they continue in such services. In no other way, with propriety, can they be released from their obligations. For should a Missionary who had received the patronage of the Society, relinquish his employment and become a pastor of a large and wealthy church, where he would receive such compensation for his services, as to enable him to pay the debt, he would be morally, and so rightly, be legally, bound to pay it. And it is every way best he should do it. In like manner, the Board, upon application, cancel the interest and suspend the principal of the notes of those beneficiaries who are settled in feeble churches and societies, and are in peculiarly depressed circumstances. In all instances

the Directors require a written application for release from obligations. Beneficiaries ought not to expect their notes to be cancelled on other conditions. They are never to presume, that the Board know any thing respecting their pecuniary affairs, for there are so many changes and contingences in life, all is uncertainty.— The Directors too, act on this subject according to evidence. For instance, the knowledge of the fact that a beneficiary is employed as a Home or Foreign Missionary, is sufficient testimony, ordinarily, to his inability to liquidate his debt. For it is to be assumed, that he receives from the Society, in whose service he labors, no more than a mere competency for his support, and, consequently, that he is not able and will not be able while thus employed to meet the obligation. It is otherwise, in relation to those beneficiaries who are settled as parochial ministers. Here it is necessary, that evidence of their pecuniary condition be furnished in order that the Directors act understandingly, and judiciously.*

Nineteen beneficiaries have asked for a release from their pecuniary obligations according to the Rules of the Society, and their request has been granted. Of these, 5 were Foreign Missionaries, 10 Home Missionaries, and 4 Pastors of feeble churches in peculiarly depressed condition..†

Presbyterian Education Society.

This Society embraces the Middle, Southern and some of the Western States, and is highly important on account of its location and character, and the extension of its operations is much to be desired. The Rev. William Patton of New York, who had been its Corresponding Secretary, for the two previous years, and who had rendered it assistance as his other avocations would allow, in July last relinquished his pastoral charge and devoted himself exclusively to the duties of his office. The Rev. John J. Owen who had been Assistant Secretary and Agent, for three years, and who had performed his official services with great fidelity and propriety, and with good success, in January last resigned his office with a view of settling ultimately in the ministry. Within the bounds of this Society, embracing the Western Education Society, 478 young men have been assisted and $25,289 have been raised, during the year. In order to meet the appropriations made to these bene+ Appendix F.

* Appendix E.

ficiaries and the expenses which were incurred, the Parent Society has paid from its Treasury $6,000.

Western Education Society.

After extensive correspondence and much deliberation, it was thought desirable that the Western Agency should be dissolved and a General Society for the Valley of the Mississippi should be formed. Accordingly such a Society has been instituted and organized, by the name of the "Western Education Society." The Constitution was adopted and the officers chosen, the 30th October last, at the time of the Anniversaries of the different benevolent Societies, held at Cincinnati. That place is to be the centre of its operations. The Rev. Dr. Wisner and the Rev. Mr. Patton were delegates from the Parent Society, and aided in the new arrangement and organization. It has already, Branches and Auxiliaries, and will, it is expected, ultimately embrace the whole Great Valley. The Rev. John Spaulding and the Rev. Ansel R. Clark, were chosen Secretaries. Mr. Spaulding had been an able and efficient Secretary for the Western Agency for about two years.

New York City Young Men's Education Society.

This Society was formed the last autumn, and has already paid into the Treasury one thousand dollars, and given a pledge that it will raise twenty-five temporary scholarships of seventy-five dollars each. This is an earnest of what may be expected from the vigor and ardor of youth. Were all the young men of our land to imitate this noble example, what an amount of good would result!

Western Education Society, N. Y.

This Society occupies as its field of operations, the Western District of the State of New York. It has prosecuted its object with success. During the year, there have been aided within its bounds 100 beneficiaries. The present Secretary is the Rev. Alanson Scofield.

Utica Agency.

This Society has been well sustained the past year, by its Secretary the Rev. Otto S. Hoyt. Within its bounds 71 beneficiaries have been assisted the last twelve months.

Central Agency.

This Society has its centre of operations at Philadelphia. It has been in existence only one year. The Rev. Eliphalet W. Gilbert has accepted the presidency of Newark College, Delaware, and consequently resigned his office as Secretary. The Rev. Edwin F. Hatfield, late of St. Louis, Missouri, has been appointed to succeed him, and expects to enter immediately upon his official duties.

Western Reserve Branch.

This Branch has steadily and perseveringly prosecuted its benevolent object. The Rev. Ansel R. Clark, its Secretary, has labored with ability, wisdom, and success. The beneficiaries sus

tained by that Society the past year, are 40. Within its bounds during this time, $2,815 have been raised.

East and West Tennessee Agencies.

These Societies have together aided sixty-two beneficiaries. The Rev. John W. Beecher has resigned his agency, and Rev. John W. Irwin has recently been appointed Agent in his place, and is expected soon to enter upon his work. The Northern part of Alabama will be embraced within this field. Beneficiaries aided, are 62.

Illinois Branch.

This State Society during the year preceding the one just closed, raised funds sufficient to meet its appropriations. It has paid but little, the present year, to beneficiaries who have been sustained within its bounds, owing to the fact, that no Agent has been employed within its limits. Illinois is fast rising in a literary and religious point of view.

Maine Branch.

Within the limits of this Branch, 55 young men have been assisted the past year. Of these, 25 were new applicants. The number of beneficiaries has doubled in the space of two years. The amount of funds raised in the State is $2,075. Maine seems destined to be one of the most populous and best States in the Union, and to send forth a most salutary religious and literary influence.