422 BOARD OF AGRICULTURE. 



The committee attended to their assigned duties ; and at 

 the annual meeting, bj their cliairman, Hon. Daniel Needham, 

 reported the following plan : — 



'■ That a fund of one hundred thousand dollars be raised by subscriptions 

 of one thousand dollars each, payable in ten instalments of one hundred 

 dollars a year, with interest at four per centum on all unpaid balances, 

 until the entire sum is paid ; and that, whenever said one hundred thousand 

 dollars shall be paid, it shall be handed over by the committee to the 

 treasiu'er of the college as a permanent fund, the income of which shall be 

 used under the direction of the Board of Trustees. 



'' That the conditions upon which this fund shall be bound shall be as 

 follows : 1st, The present system of electing trustees for filling vacancies 

 shall not be changed; 2d, That the committee shall be perpetuated by the 

 filling of vacancies by the Board of Trustees during the period of ten years 

 during the time which the subscription shall be open." 



The report was accepted, and laid on the table ; and it 

 was voted that the plan should be considered in detail, and 

 measures perfected at an adjourned meeting for its execution. 



The trustees of the college, though a legal " body corpo- 

 rate," are simply the agents of the State, with duties and 

 powers clearl}^ defined by law. In the statute of Congress, the 

 great aims and purposes for which the college endowment was 

 provided, and the obligations assumed by the State in accept- 

 ing it, are fully set forth ; and in the statute of the State the 

 details of administration by which it is proposed to realize 

 those aims are defined, even to the course of study to be pur- 

 sued, and the proportion of time to be given to each. The 

 responsibility of the trustees is confined to an economical 

 expenditure of the funds committed to them for purposes ex- 

 pressly defined, and a faithful adherence to the established 

 system. If this is incapable of producing the designed result, 

 or if the income from funds is inadequate to sustain and de- 

 velop the system, the responsibility must belong to the State. 

 The experience of fourteen years has demonstrated that the 

 plan of organization is no more extensive, its grade is no 

 higher, than Avas contemplated by the donors of the endow- 

 ment, or than is essential to the attainment of the ends sought. 

 Therefore as it exists, in all these respects, it should be sup- 

 ported and maintained. 



Respectfully submitted by order of the trustees. 



LEVI STOCKBRIDGE, President. 



AGRICULTUKAIi COLLEGE, AMHEKST, 



Jan. 27, 1882. 



