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to two thousand pounds, which will leave a surplus of upwards of five hundred pounds; and as it is intended that the first year's annual subscription should be paid in advance on opening the room, a sum of one thousand pounds may thus be applied in the immediate purchase of books. The annual income, amounting to five hundred guineas, together with the addition of the contingent rents of the shops and cellars, which cannot fail to be let to advantage, is proposed to be expended in the following manner. After the necessary expenses of the institution are paid, a sum, not exceeding one third of the net income, shall be annually laid out in the purchase of News. Papers, Magazines, Reviews, and Pamphlets; of the remainder of the anmual income, a part, not exceeding one third, shall be applied to the purchase of books in the French, Italian, German, Latin, and Greek languages; and the balance to be expended in purchasing books in our own language. Liverpool, November 27, 1797. --

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