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Baxter's Stamps 55 embossed, like his later designs, and invariably is printed in red, brown, or black ink. Underneath it will be noticed that Baxter, probably acting on the advice of Lord Brougham, at the renewal of his Patent rights, makes the announcement that Licenses will be granted to work the process. This being Baxter's first effort at a design for his Stamp, he probably came to the conclusion that it was not of sufficiently artistic and imposing character, and this leads us to design No. 2, as in the order of its appearance, which is No. 4 illustration, in Mr. C. T. Courtney Lewis' Baxter Year Book, 1912. My assumption that the date of this design of his Stamp was the latter half of 1851 is based on the fact that the Print "The Royal Exchange," published in 1851, when on a stamped mount, is of this design. This Stamp, like all his later designs, is always found embossed in plain relief, from a die, and not printed, like his first Stamp. This embossing, as we say, was probably adopted to make it more imposing and artistic. I am again further strengthened in my assertion of the date of the issue of this Stamp by the fact that Mr. G. C. Leighton, who was at this period issuing prints by methods closely resembling Baxter's patent, adopted a similar form of Stamp, which can be seen on the mount of his print entitled " Sunset," produced by Leighton at this time. We can easily conclude, again, that Baxter, seeing this resemblance, decided to change the design of his Stamp once again, and when pro- ducing his first print of the " Gems of the Great Exhibition," published early in 1852, the Stamp was of the design of the No. 3 illustration in