THE OUTLOOK.

The debt-showing in our treasury has varied during the last few months. At the close of August, 1895, it reached its highest point during that fiscal year, amounting to $101,151.66. During the next three months it was reduced considerably below that highest figure; but now, at the close of December, it has reached the amount of $104,943.95. It would be difficult to show in detail the reasons for these changes. But the last figure is the highest ever reached in the history of the Association, and if we could not look with faith beyond, it would be discouraging. But we cannot be despondent in view of the past. Discouragements have been incident in every stage of progress in this connection. In the old anti-slavery days there were times of almost hopeless discouragement. In the great struggle for the life of the nation and the emancipation of the slave there were days when only the bravest had hope. And in these last days of reconstruction and of the work for elevating the Freedmen, there have been very dark hours. But thus far triumph has come in the end. We believe that God, who led the Children of Israel out of Egypt and through the wilderness and never ceased his care till the people were planted in their own land, with their homes and olive yards, will not desert this larger company which he has brought with a high hand out of bondage. We believe, too, that the merciful Saviour who regards every good work done for the poorest and most helpless as done unto himself, will not desert an organization that devotes itself earnestly and successfully to the elevation of these needy races.

We, therefore, bate not one jot of heart or hope, but trusting in the faithfulness of our Heavenly Father, and in the self-sacrificing and conscientious liberality of his followers, we yet believe that this debt will be removed and the means be furnished for the continuance and enlargement of this great work. Hence, we repeat the call we have already made to pastors, churches, Sunday-schools, Christian Endeavor Societies, and to individuals, to make this our Year of Jubilee, the time of emancipation and deliverance.