was at the end of the first twelve months. The value of this artist's year is the criterion of Society; and as it is valued, so does Society flourish or decay.
'The price to Subscribers, Four Guineas; two to be paid at the time of subscribing, the other two, on delivery of the print.
'Subscriptions received at No. 28, corner of Broad Street, Golden Square, where the Picture is now exhibiting, among other works, by the same artist.
'The price will be considerably raised to non-subscribers.'
The exhibition thus announced was held at the house of James Blake, and contained sixteen pictures, of which the first nine are described as 'Frescoes' or 'experiment pictures,' and the remaining seven as 'drawings,' that is, drawings in water-colour. The Catalogue (which was included in the entrance fee of half a crown) is Blake's most coherent work in prose, and can be read in Gilchrist, ii. 139-163. It is called 'A Descriptive Catalogue of Pictures, Poetical and Historical Inventions, painted by William Blake, in Water-Colours, being the ancient Method of Fresco Painting Re-
