STATE AGRICULTURAL SOCIETY. 11 



latter was forced to meet the low rates ruling abroad. We have now 

 the promise of an enormous yield of this cereal in eighteen hundred 

 and seventy-six. An increased acreage has been sown, and the rain- 

 fall has been bountiful. The blessings of cheap bread cannot be 

 appreciated too highly. It is vastly better to have an abundance at 

 low prices than a stinted supply at high ones. California ranks first 

 in the list of wheat-producing States, and is progressing so rapidly 

 in this respect that her supremacy will not be challenged easily or 

 soon. 



We regret that nothing so satisfactory can be said of the recent 

 culture of cotton here, which has, in a measure, been neglected during 

 the year, the entire crop amounting to only about one hundred and 

 twenty-five thousand pounds, or one-fourth of that of eighteen hun- 

 dred and seventy-four. The quality of the staple has been classed 

 equal to that of New Orleans middling. The cost of high picking, 

 ginning, and marketing must, in a measure, account for the partial 

 abandonment of its culture. The climate, and a large area of coun- 

 try, are certainly well adapted to it, and the prices obtained for this 

 year's crop have been satisfactory. The home demand kept most of 

 it here, little being exported. It is to be hoped that the cultivation 

 of this valuable staple will be resumed, and will eventually become 

 one of our most important farming features. 



For facts relating to the vintage, the culture of tobacco, the fruit 

 interests, and a multitude of others, you are referred to the volume 

 of society transactions, now in preparation. We are pleased to be 

 able to report the following favorable financial condition: 



Our receipts for the year aggregate $40,137 37 



Our expenditures amounted to 40,994 72 



Overdraft on Treasurer $857 35 



Congratulating the members of the society on the general pros- 

 perity of the State, we. take peculiar pride and pleasure in congratu- 

 lating them, also, upon the success that has attended the efforts of 

 our society. 



