Into the early 19th century, medal recipients were selected by the President of the Royal Society, though not always on the basis of publications and experimental demonstrations; political and social connections were also key considerations, along with service in the general interests of the Society. During the long presidency of Joseph Banks, the medal was frequently awarded to recipients whose researches were of a practical or technical nature, involving improvements to scientific equipment or instrument design. In 1831, new regulations adopted by the Royal Society Council made the medal an annual award, dropped the requirement for conducting the qualifying research within a certain period and officially opened it to scientists from any nation; although the medal had previously been awarded to foreign scientists including Alessandro Volta, the majority of recipients had been British subjects. A second donation of £1666 13 s. 4 d. (roughly equivalent to £212,366 in 2023) was made by Sir Joseph William Copley in 1881, and the interest from that amount is used to pay for the medal.