2 MAY 1840, Page 11


WE have received a letter relating to the project for a new Sub- scription Circulating Library, noticed in our last week's paper.

We are not at present in a condition to answer our correspondent's question with respect to the origin and originators of the scheme ; but this we certainly believe, that the institution is intended to be under the control of no parties whose interest can possibly be at variance with the professed objects of its foundation. We shall return to the subject, and probably take further notice of our cor- respondent's letter.

Meanwhile, we hasten to' correct a misstatement into which we were led by depending on a prospectus some time since handed to us, another having been recently issued, in which sonic important, and, in our opinion, most judicious variations from the original scheme are noticeable, It appears that the price of the share has been reduced to and the annual subscription to .21. Further, it will be permissible for a lire member to compound for his sub- scription by payment of .2t). A thousand subscribers on these terms will he more easily c;ttt thou five hundred on the other. The new prospectus, we perceive, announces a forthcoming general meeting.