ENDOWMENT FUNDS RECEIVED DURING THE YEAR 1888-89. The Daniel Hand Fund for the Education of Colored People, Securities received, face value $1,000,894.25 Foltz Endowment Fund, Estate of Rev. Benjamin Foltz. (Balance) 500.00 ------------- $1,001,394.25 H.W. HUBBARD, Treasurer, 56 Reade Street, New York. * * * * * THE AMERICAN MISSIONARY ASSOCIATION--ITS PLACE AND WORK. BY SECRETARY M.E. STRIEBY. We commemorate the forty-third anniversary of the American Missionary Association. During these years, its place and work have become somewhat definitely settled, and I take this occasion to set forth the position that it now holds in relation to its constituents, its sister societies, and the great work providentially thrown upon it. 1. The Association recognizes the control of its constituents. That recognition was one of the corner-stones on which it was founded. It sought its members and its funds from persons of evangelical faith and practical morality. Of such, it offered membership to any one who contributed to its funds. Thus broadly was it placed on a popular basis. At length, however, it began to be felt by many of its supporters that there were evils in this method--that the acts of the society were liable to be regulated by the local attendance at each annual meeting, and that such meetings might easily be "packed" to carry out a purpose. The officers of the Association, true to the cardinal principles of its founders of control by its constituents, welcomed the discussion and cheerfully accepted the present constitution, which was adopted after due deliberation. That constitution designates as voters, life members and delegates from the churches, local conferences and state associations. The Executive Committee believe that we have now reached a satisfactory basis, but if it shall be the will of the constituents to make further modifications hereafter, the fundamental principle of the Association will dictate a ready acceptance of any change that will not set aside the evangelical, missionary, and philanthropic basis on which the Association was founded, and that will not impair contracts or endanger invested funds. The Association belongs, under Christ, to its constituents.