102 [Senate 



eluded, the expenses would have been diminished $400; which would 

 have brought the amount $100 below that of last year. But the re- 

 ceipts would at the same time been cut off to the extent of six or 

 seven hundred dollars. So that, comparing the accounts, without refe- 

 rence to the exhibitions, with those of the five preceding years, the 

 expenses are, in reality, least of any. Eut it is in vain to disguise 

 the fact, that the receipts, when subjected to the same comparison, 

 have very materially diminished. This is a subject of vital impor- 

 tance, and must not be lost sight of in our future operaiions. 



It is known to all of us, that a few years ago the Institute was 

 in debt to the extent of $1,500. This has been paid off, and we are 

 now, happily, free from embarrassment; but it required the addition 

 of all the profits of the fairs to the current receipts of the repository 

 to accomplish it. It is estimated that the nine hundred and six dol- 

 lars now added to the general fund, will not be more than sufficient 

 to meet the current expenses of the year. Hence it follows, that in 

 our present condition, one unprofitable fair will throw us again in 

 arrears. Indeed, we may, at this moment, consider ourselves indebt- 

 ed to the unusual and extraordinary continuance of clear and plea- 

 sant weather, which lasted during the whole exhibition, for the fa- 

 vorable result which is now presented. Let it never be forgotten 

 that the success of institutions, like that of individuals, depends up- 

 on the relative condition of their income and outlay. Neither the 

 one or the other can long flourish, if the latter exceeds the former. 

 Punctuality and promptness in the discharge of pecuniary obliga- 

 tions, are alike vital to both. Nothing can be more true than the 

 adage, that when credit goes out at one door, prosperity goes out at 

 the other. And it may be predicted with confidence that whenever 

 the monetary affairs of the American Institute again become embar- 

 rassed, the seeds of its di-^solution will have been sown. 



It affords the Managers much satisfaction to state that the reputa- 

 tion of the Institute has been fully sustained by the late exhibition. 

 Every branch of domestic industry has exhibited increased improve- 

 ment, and the growing importance of the association is exemplified 

 in the anxiety which is manifested by producers and inventors, to 

 obtain the approbation and awards of our judges. 



In the agricultural department, the display of live stock, although 

 not as large as on some former occasions, was deemed better in other 

 respects. The arrangements were made with an especial view to 

 accommodate and attract exhibitors. It had been customary for the 

 two previous years to place the cattle show in charge of Mr. G. W. 

 Miller, who provided sheds, stalls, &c., making a claim upon every 

 owner for entrance money, with charges for attendants, and commis- 

 sions upon all sales, whether made by auction or otherwise. These 

 charo-es were loudly complained of, and the managers thought with 

 good reason. They therefore relieved the exhibitors of all such 

 payments, by providing, at the expense of the Institute, suitable ac- 

 commodations, and stipulating that the provender should be furnish 

 ed at the lowest market rates. This was considered not only as ad- 

 vancing the interests of the Institute, but there is evidently an obli- 



