4 TRANSACTIONS OF THE AMERICAN INSTITUTE. 



the improvement of the construction of the common plow, and it 

 would be worthy of consideration whether it would not be judicious 

 to extend an invitation to English manufacturers to enter for com- 

 petition. 



I would also beg leave to state that plowing by steam was per- 

 formed during the Exhibition, with complete success, and if by the 

 ingenuity of our citizens, the English method could be so far modi- 

 fied as to diminish the cost of machinery so far as to make its intro- 

 duction practicable in this country, it would be productive of infi- 

 nite benefit to the agricultural interest of the Avhole Union. 



In a short address which I had occasion to make at the close of the 

 Exhibition, T took occasion to allude to the "American Institute" 

 as having done more to advance the general interests of American 

 industry than any other association in existence, of the truth of 

 which, from my long acquaintance with its useful career, I have 

 ever been fully impressed, and in concluding this report, I would 

 take the liberty of suggesting that if, by the influence of your soci- 

 ety, there could be established an association for the improvement 

 of agricultural machinery and implements, which should gather to- 

 gether the most improved models of all kinds of instruments used 

 in tilling the lands and securing crops, similar to that which our 

 German friends decided to establish, in the form of an Agricultural 

 Museum, you would but add to that sphere of usefulness which you 

 have so long and honorably filled. 



All of which is most respectfully submitted by 



Your obedient servant, 



Austin Baldwin, 

 Delegate from the American Institute. 



jYov. 17, 1863. 



A Fair was held during the past year under the auspices of the 

 Board of Managers, at the Academy of Music. Their report will 

 be found annexed. 



The property of the Institute, No. 351 Broadway and No. 89^ 

 Leonard street, has been leased for three years from the 1st of May 

 next, at the annual rent of eight thousand dollars, being an advance 

 of $2,500 on the rent received during the last two years. Somo 

 necessary repairs have been made to the premises at a cost of $400. 



The Trustees think that the time has arrived when this property 

 should be sold. They have advertised it in accordance with the 

 By-Laws, and for the purpose of bringing the subject before the 

 Institute, they called a special meeting on the 20th of January last, 

 at which meeting the proposition was fully discussed. As autho- 

 rity to sell can only be passed at a regular meeting, it is hoped 



