APPENDIX. 141 



» 

 The treasurer of the Commonwealth reports the whole amount 

 received by him from sale of land scrip to be $83,673.00. From the 

 income of the funds in his hands $4,408.20 have been taken to pay- 

 premium on stocks bought, that the principal might remain undiminished. 

 Of the net income of the land-scrip fund the College is entitled to two- 

 thirds and the Institute of Technology to one-third. The net amount 

 of income remaining in the treasury to the credit of the College at the 

 close of the year 1866, was $8,935.03. 



But by the provisions of the Act of May 11, 1864, granting $10,000 

 to the College, this sum was to be repaid to the Commonwealth, from 

 the income of the land-scrip fund belonging to the College. If the pro- 

 visions of that Act are insisted upon by the Commonwealth, it will 

 absorb all of the income of the fund belonging to the College for 1864, 

 1865, 1866 and $1,064.97 of the income of 1867. The reasons why 

 this repayment cannot legally be made have been fully set forth in 

 former reports. The attention of the legislature is again respectfully 

 called to this subject. 



The whole amount of scrip granted to the Commonwealth was 360,- 

 000 acres. One-tenth (36,000 acres) has been sold for $29,778.40, 

 and that sum has been paid to the treasurer of the College for the 

 purchase of land. Of the remaining nine-tenths, 219,520 acres remain 

 unsold. 



Conclusion. 



It is unfortunate for the College that its organization has been so long 

 delayed. Difference of opinion in regard to location of the buildings 

 has been misunderstood as a difference of opinion in regard to the 

 method of organizing and conducting the institution. Undoubtedly 

 there is a difference of opinion as to what the College should be. In 

 reference to some of our best institutions that have been established for 

 more than a century, there is a marked difference of opinion among 

 their alumni and officers as to the most desirable organization for them 

 now to meet the demands of the present time. As no one can claim to 

 have experience in conducting such an institution as this, it would seem 

 to be the wisest way for all well-wishers of the College to go on as best 

 they can in the light of experience gained in the general work of educa- 

 tion, and be ready to adopt such changes as the practical working of the 

 institution shall show to be necessary. 



The fear is expressed by some that, if an attempt is made to give a 

 truly liberal education, the students will turn aside from agriculture to 

 other pursuits. Undoubtedly some of them will. If such an education 

 is given in practical science as ought to be given in such an institution, 

 there will be a demand for its students as teachers and in other profes- 

 sions. And it would be an education entirely unworthy of Massachu- 



