Item is a carbon copy of a typescript document. Addition written in ink, in F. Lorne Hutchison's hand, on the top of the first page reads: 'Professor Macleod's statement read by him with interpretation, at a meeting of the Insulin Committee, April 28, 1924.' Macleod gives a history of the early manufacture of insulin and the reasons for which the Insulin Committee took out patents and charged all licensed manufacturers a 5% royalty. Macleod then advocates the reduction of the royalty for manufactures outside Canada and the United States.