14 TRANSACTIONS OF THE AMERICAN INSTITUTE. 



If a scientific bureau composed of those most competent, and 

 skilled in the various liranches brought before the Associatioii 

 for their deliberations, could be formed, and a monthly or quar- 

 terly report be made and published, the value would be greaty 

 and coming with authority from the Institute would command 

 the respect and recognition of the scientific Avorld. Thfere are 

 connected with the Institute or within its reach, those whos& 

 names would guaranty a recognition of its acts in all scientific 

 circles, and the endorsement by the Institute of their judgment^ 

 would react to mutual honor and credit. 



This Scientific Bureau or Faculty of the Association might 

 organize courses of study, and lectures at small cost, sufficient 

 only to make them self-supporting and by awarding diplomas tO' 

 be issued by the Institute to such as have attained sufficient 

 degree of proficiency ; create a taste in all these matters which 

 would greatly benefit the community, and extend our field of 

 influence and usefulness. 



The floating debt of the Institute, in February 1860, exceeded 

 eight thousand dollars, over four thousand of which has been- 

 paid off by the current receipts, and the balance has been paid 

 by obtaining the amount on bond and mortgage, thus relieving 

 us from any outstanding floating debt. (See Treasurer's report.) 

 Upwards of one hundred members have this year been added to 

 the Institute, and our affairs show a condition of prosperity 

 scarcely to have been hoped for in these times of business depres- 

 sion. 



Too great care cannot be used in the admission of members. 

 It is on a careful examination of the character of each candidate 

 that the future of the Institute must depend, and I recommend 

 an increased vigilance in this important branch of our affairs. 



I thank you for the many acts of kindness extended to me 

 during my past term of office, and I trust that the same consid- 

 eration and kindly judgment of my acts may continue during the 

 one on which I have now entered. 



