130 AGRICULTURAL COLLEGE. 



work, receiving small values at fictitious prices, and were 

 perhaps somewhat influenced by the expanded views of all 

 private business men and municipalities then in vogue. If 

 during the period named, and when these large outlays were 

 principally made, they had not been obliged to pay common 

 laborers from two to two and a half, and mechanics from 

 three to four, dollars per day, and, for every form of material 

 required, in that proportion, instead of one and two dollars 

 per day for different kinds of labor, and material on that 

 basis, as now, the record would have shown an expenditure 

 of a hundred thousand dollars less than it now does. 



The personal farm equipment of stock, teams, tools, imple- 

 ments, vehicles, and machines, was unavoidably procured on 

 the high-price basis ; and if from year to year the inventory 

 has shown a decreased money-value, notwithstanding the 

 increase of stock, the result can only be charged to that 

 general depreciation of prices which has affected the entire 

 property of the State, and plunged many careful, judicious 

 men into ruin. 



To reap the full advantage which the property acquired 

 under these circumstances is capable of yielding, a larger 

 annual income is required. 



Though extremely desirous of securing for the institution 

 every modern appliance of practical education and culture, 

 and of enlarging the sphere of its influence in its special 

 field, yet we are satisfied, that, by the practice of the most 

 scrupulous economy in the management of its affairs, and 

 some personal sacrifice on the part of its faculty, its future 

 will not be devoid of usefulness. 



THE SCHOOL. 



Considering all the circumstances of the case, the work of 

 the year may be pronounced a success. There has been no 

 serious diminution in the number of students. They have 

 manifested their usual interest in their specific routine of 

 study, work, and drill, and in the general welfare and prog- 

 ress of the college. They were never before so public-spir- 

 ited, and eager to contribute their effort for its improvement, 

 as is evinced by the erection by the class of '82 of an elegant 

 fountain, at the cost of two hundred and fifty dollars, in the 

 centre of the grass-plat in front of the buildings, which adds 



