84 MASSACHUSETTS AGRICULTURE. 



of the Massachusetts Institute of Technology. When it is 

 reported, therefore, that the State has at different times 

 appropriated $255,000 for the establishment and maintenance 

 of the College, it ought, in justice, to be borne in mind that 

 the greater part of this large aggregate (nearly three-fifths) 

 was given in the form of an addition to the fund arising 

 from the sale of national land scrip, not a dollar of which has 

 been expended, and that the College receives but two-thirds 

 of the income of this fund ; so that the advantage of these 

 generous gifts does not wholly accrue to the Agricultural 

 College, and its income is, in consequence, very much less 

 than it otherwise would be. 



The financial embarrassments of the College have arisen, 

 in part, from the reduction of the income of the fund in the 

 hands of the State treasurer, consequent upon the general 

 depression of business so universally prevalent during the 

 last few years, and in part, it must be admitted, from want of 

 attention to business details in the expenditures of the farm 

 and other departments of the institution. The re-organiza- 

 tion was designed to remedy these defects, and it is believed 

 that it has accomplished the object. The financial status of 

 the College may be presented substantially as follows : — 



Keal estate $200,000 00 



Farm stock appraised at 2,747 00 



Implements, vehicles, &c 1,005 50 



Farm produce on hand 2,019 25 



$205,771 75 



RESOURCES. 



Income of fund in State treasury . . . $12,000 00 

 Income from other funds .... 700 00 



Income from tuition, room-rent, &c. . . 3,500 00 



Total income $16,200 00 



EXPENDITURES. 



Salary account ...... $10,100 00 



Current expense account 4,000 00 



Extra instruction 800 00 



Cost $14,900 00 



In the above estimate of expenditures no allowance is 

 made for a president's salary. It is impracticable to reduce 



