"Yet because it is seldom believed that money is got but for the love of money, we shall tell the use which we intend to make of our expected profits. Many artists of great abilities are unable to sell their works for their due price; to remove this inconvenience, an annual sale will be appointed, to which every man may send his works, and send them, if he will, without his name. These works will be reviewed by the committee that conduct the exhibition; a price will be secretly set on every piece, and registered by the secretary; if the piece exposed for sale is sold for more, the whole price shall be the artist's; but if the purchasers value it at less than [Illustration: PLATE XL.--SIR JOSHUA REYNOLDS THE AGE OF INNOCENCE _National Gallery, London_] the committee, the artist shall be paid the deficiency from the profits of the exhibition." * * * * * This mode of admission was found to answer all the wished-for purposes, and the visitors, who were highly respectable, were also perfectly gratified with the display of art, which, for the first time, they beheld with ease and pleasure to themselves. The exhibition, thus established, continued at Spring Garden Room, under the direction and management of the principal artists by whom it was first promoted, and they were soon also joined by many of those who had continued to exhibit in the Strand (_i.e._ at the Society of Arts, etc.), which party being mostly composed of young men, and others who chose to become candidates for the premiums given by the Society, thought it prudent to remain under their protection. But the Society finding that those who continued with them began to diminish in their numbers, and that the exhibition interfered with their own concerns, no longer indulged them with the use of their room, and the exhibitions at that place terminated in 1764. These artists, who were mostly the younger part of the profession at that time, thereupon engaged a large room in Maiden Lane, where they exhibited in 1765 and 1766. But this situation not being favourable, they engaged with Mr Christie, in building his room near Pall Mall, and the agreement was that they should have it for their use during one month every year, in the spring. Here they contrived to support a feeble exhibition for eight years, when their engagements interfering with Mr Christie's auctions, he purchased their share of the premises, and they made their last removal to a room in S. Alban's Street, where they exhibited the next season, but never after attempted to attract public notice. It may be observed that while this Society continued there were annually three exhibitions of the works of English artists, namely, the Royal Academy, the Chartered Society, and that last mentioned, the members of which styled themselves the Free Society of Artists. Their exhibition was considerably inferior to those of their rivals. By the Chartered Society, Edwards means the