STATE AGRICULTURAL SOCIETY. 



39 



Deduct this from twenty-six thousand four hundred and sevent}'- throe 

 dollars and fifty-eight cents — the amount shown by the Financial Secre- 

 tary's last annual report to have been the indebtedness of the Society on 

 the eleventh day of March, eighteen hundred and sixty-three — and we 

 have the sum of seven thousand one hundred and eighty-one dollars 

 and two cents, which has been cancelled by the present Board since 

 they assumed the management of the society. 



And here, perhaps, it may be well to remark, that the above indebt- 

 edness has been accumulating through a term of years, partly in conse- 

 quence of losses by floods, and partly, as we are compelled to believe, in 

 consequence of a system of management based more upon the hopes of 

 future financial successes, than the experiences of the past and the cor- 

 tainties of the present. 



But, however accumulated, the sooner it is paid the better it will be 

 for the society and the material interests of the State, for a society thus 

 encumbered, and with a consequent impaired credit, labors undor many 



