Board of Direction. In these times of shrinkage in the values of both real and personal estate, it is important that Trustees should exercise great care and caution, not only in making investments, but in the management of those made in more prosperous times. The inquiries made by your Committee lead them to a conclusion that Synod should feel entirely satisfied that their trust is in safe and judicious hands.

Last year, the Committee on the Board of Direction in their report to Synod, said:

"Your Committee having directed the attention of Synod to the deficiency in the Permanent Fund, arising from advances and payments therefrom, for purposes not properly payable therefrom, deem that they are not required to make any suggestion in reference to the restoration of the moneys directed therefrom, and leave it to Synod to devise and provide means for that purpose." Synod took no action upon the subject.

The facts are in brief: By direction of former Synods, advances have been made from the Permanent Seminary Fund for salaries, completion and repairs of dwellings, and for lectures, in all amounting now to $30,040.09, and is denominated by the Treasurer, "Permanent Seminary Fund Deficit," in his Annual Digest of this year. Holding this amount is due to the Permanent Seminary Fund, he counts it an asset.

By reference to the report of the Board of Direction, it will be seen that the deficiency for the expenses relating to the Theological Seminary for the year ending May 1st, 1877, is put at $1,512. The Treasurer and members of the Board have informed the Committee that it would be safe to put the amount at $1,200, as some of the items of expenses mentioned in their report, will not, upon reflection, be incurred.

To pay the expenses of Delegates from the Particular Synod of Chicago, traveling expenses of Corresponding Delegates, &c., as estimated amounting to $1,368, the usual provision must be made by assessment on the Classes.

In view of these facts, the Committee offer the following resolutions :

First. Resolved, That the Synod make provision for the estimated deficiency of funds which, as reported by the Board of Direction, will exist in the revenues applicable to the ex

penses relating to the Theological Seminary, amounting to $1,200.

Second. That the estimated deficiency of funds for the payment of the other expenses reported by the Board, in the contingent expenses of the General Synod, amounting to the sum of one thousand three hundred and sixty-eight dollars, be apportioned among the several Classes and be collected from them.

All of which is respectfully submitted.

P. S. DANFORTH, Chairman.

Mr. John Van Nest was elected President of the Board. Mr. Gardner A. Sage was re-elected a member of the Board for the term of five years.

Mr. John I. Brower was elected Treasurer for the ensuing year. It was

Resolved, That as the President of Hope College has been acting as endowment agent under the Board of Direction, the Board be authorized, in closing the accounts of Rev. Philip Phelps, to audit his account, and to pay what may be due to him from the Endowment Fund, on account of expenses incurred in the work of endowment.

ARTICLE V.

CORRESPONDENCE.

Reports were received as follows from delegates of this Synod to other bodies, and were read immediately before the addresses of the several delegates from those bodies to this Synod. From Rev. C. E. Crispell, delegate to the General Assembly of the Presbyterian Church in the United States of America; from Rev. Jacob Chamberlain, delegate to the General Assembly of the Presbyterian Church in the United States, (South); from Rev. W. H. Ten Eyck, delegate to the Council of the Reformed Episcopal Church, assembled at Ottawa, Canada; and also from Rev. James Demarest, Jr., delegate to the Council of the Reformed Episcopal Church convened at Philadelphia.

The credentials of Rev. John B. Adger, D.D., corresponding delegate from the Presbyterian Church in the United States, (South); of Rev. Andrew Murray, from the Reformed Dutch

Church of the Cape of Good Hope, South Africa; of Rev. J. Howard Smith, D.D., and Hon. Stewart L. Woodford, LL.D., from the Reformed Episcopal Church; of Rev. J. S. McCulloch and Rev. W. W. Barr, D.D., from the United Presbyterian Church of North America; of Rev. George A. Howard, D.D., and Rev. Howard Crosby, D.D., from the Presbyterian Church in the United States of America.

The evening of the third day of the Session was set apart for the reception of corresponding delegates, when Rev. John B. Adger, D.D., Rev. Andrew Murray, Rev. J. Howard Smith, and Hon. Stewart L. Woodford were welcomed, and delivered addresses, which were responded to by the President.

A letter was read from Rev. J. S. McCulloch.

On the fourth day, Rev. Howard Crosby, D.D., LL.D., was received, and briefly addressed the Synod.

REPORT OF THE COMMITTEE ON CORRESPONDENCE.

The Committee on Correspondence presented the following report, which was accepted and adopted:

The Committee on Correspondence would respectfully report:

That there have been referred to them the credentials of the following corresponding delegates, who have been welcomed to the Synod, and who have addressed it:

The Rev. Howard Crosby, D.D., LL.D., from the General Assembly of the Presbyterian Church in the United States of America.

The Rev. John B. Adger, D.D., from the General Assembly of the Presbyterian Church in the United States, (South).

The Rev. J. Howard Smith, D.D., and the Hon. Stewart L. Woodford, LL.D., from the General Council of the Reformed Episcopal Church, and

The Rev. Andrew Murray, from the Synod of the Dutch Reformed Church of South Africa.

The credentials of the Rev. J. S. McCulloch and the Rev. W. W. Barr, D.D., from the General Assembly of the United Presbyterian Church of North America, were also received, together with a letter from the Rev. Mr. McCulloch, explaining the reasons of his absence, and conveying to this Synod the Christian salutation of the Church which he represents.

Reports have been received from the following delegates of this Synod to corresponding bodies:

From the Rev. C. E. Crispell, D.D., delegate to the General Assembly of the Presbyterian Church in the United States of America.

From the Rev. Jacob Chamberlain, delegate to the General Assembly of the Presbyterian Church in the United States, (South), and

From the Rev. W. H. Ten Eyck, D.D., delegate to the General Council of the Reformed Episcopal Church assembled at Ottawa, Canada.

Also from Rev. James Demarest, Jr., delegate to the Reformed Episcopal Council assembled at Philadelphia.

Your Committee notice that this Synod, at its last session, appointed corresponding delegates to seven other bodies.

The Synod, at its session in 1872, (see Minutes of that year, page 441), took the following action:

"Resolved, That in any case where a delegate from any other body has not appeared for two years, our appointed delegate shall correspond by letter."

It would seem, beyond question, that the delegates appointed are expected either to be present at the sessions of the bodies to which they are sent, or to convey our Christian salutations by letter, and to report their action to this Synod. But your Committee notice that the delegates to the following bodies. viz: The General Assembly of the United Presbyterian Church in North America, The General Synod of the Reformed Presbyterian Church, the General Synod of the Evangelical Lutheran Church, and the General Assembly of the Presbyterian Church in Canada, have submitted no report to this Synod as to whether they discharged the duties laid upon them, nor any reason for such failure.

Your Committee would recommend that the attention of the several corresponding delegates appointed by this Synod be called to the duty expected of them, in the hope that at the next session of this Synod reports will be presented from all those who are commissioned to bear our salutations to other branches of Christ's Church.

We would also recommend that the Stated Clerk be authorized to send a copy of the Minutes of this Synod to the

Dutch Reformed Church of South Africa, together with a fraternal letter, expressing our interest in our brethren in that far-off land.

We find, on examination of the official document of the conference preliminary to the Presbyterian Council which is to meet in Edinburgh, Scotland, in July next, that our Church is entitled to ten delegates. But it appears that the Synod elected five Primarii and five Secundi, of whom it is understood that only five are prepared to go.

We therefore beg to recommend the appointment of the following additional delegates :

The Hon. Samuel Sloan.

Henry Van Arsdale, M.D.

Henry W. Bookstaver, Esq.

Peter Donald, Esq.

Hon. Frederick T. Frelinghuysen.

We would also recommend the following:

Resolved, That the Rev. Philip Peltz, D.D., be requested, when he visits the Continent, to present the Christian salutations of this Synod to the Synod of the French Reformed Church, or to any of the brethren of that Church whom he may meet.

All of which is respectfully submitted,

WILLIAM H. CLARK, Chairman.

DELEGATES TO CORRESPONDING BODIES.

The Committee on Correspondence having nominated a double number, Synod elected the following delegates to corresponding bodies:

To the General Assembly of the Presbyterian Church in the United States of America:-Rev. E. P. Rogers, Primarius; Rev. Wm. R. Duryee, Secundus.

To the General Assembly of the Presbyterian Church in the United States (South):-Rev. Talbot W. Chambers, Primarius; Rev. David Cole, Secundus.

To the General Assembly of the United Presbyterian Church : -Rev. John Steele, Primarius; Rev. Jacob Van Der Meulen, Secundus.