"About three or four years since, some artists of Augsburg formed themselves into a society, in order to promote and encourage the imitative arts, especially painting and engraving. They applied to the Emperor for protection, which was graciously granted. Soon after they published, at their own expense, a few select pieces; but finding that the polite arts cannot be brought to perfection without the help of literature, and that to excel an artist must be something of a scholar himself, or be assisted by men of learning, they associated those to their body by whom they might be furnished with instructions in writing upon the two above-mentioned branches, and a correspondence both within the empire and abroad properly carried on. Having thus far met with success, they began to extend their views, and endeavoured to fix an institution for teaching methodically the art of drawing or designing--an establishment much wanted here in Germany. This scheme being laid before the Imperial Court, the society obtained an ample charter and considerable privileges. It was incorporated under the denomination of 'an Academy of Arts and Letters,' and the Emperor was pleased to illustrate it with his own name. He conferred the honour of knighthood upon the president, and the title of imperial counsellor on the director, empowering the members to choose those officers themselves; and, moreover, to appoint counsellors and professors to direct the teaching publicly the learned languages and the liberal arts, with several other concessions concerning the printing and publishing of their works. "To crown their hopes, a common stock was still wanting for the supply of unavoidable expenses, such as salaries to masters and teachers, charges of the press, etc. On this account they had recourse to a tontine,--a kind of lottery, consisting of annuities for life,--which has met with tolerable success, and will produce a capital sufficient to defray all necessary disbursements. But till this end be compassed, the Academy confines itself to the publishing (by means of artist members) plates engraved after the original paintings of the best masters; and by the help of such members as are men of letters, a journal or periodical pamphlet, consisting of memoirs or essays concerning those arts whose foundation is laid in designing. The first part, by way of specimen, is to come out before the close of this year, and it will be regularly continued every month in the next. "The chief materials are to be compiled by members settled at Rome, Paris, Dresden, Stuttgard, Copenhagen, Cassel, etc.