AMERICAN INSTITUTE. 41 



Amount of bills unsettled, as above, _ $3,822 66 



Less in hands of finance committee, 3 74 



$3,818 92 

 From which deduct appropriation to be received from 



theState, $950 00 



Taken from stock of premiums on hand, two 

 large gold and thirty-eight large silver 

 medals, and twenty-two cups, 494 62 



1,444 62 



Amount to be provided for, $2,374 30 



From the foregoing account, it will be seen that the excess of 



expenses, over the receipts, will be $7,118 92 



From which should be deducted property 



on hand, viz : Shafting, pullies, pipes, 



tables, trucks, tent, &c., $1,300 00 



Appropriation from State, under act of 



May, 1841, 950 00 



2,250 00 



Shows, a balance against the fair of $4,868 92 



The unsatisfactory pecuniary result of our exhibition was, as 

 we have intimated, not altogether unanticipated. Several unto- 

 ward circumstances combined to baffle the special efforts that 

 were made. But, so far as the character of the fair is concerned, 

 we believe it was in no wise unsuccessful. Since the year 1829, 

 when the American Institute was the first to establish a system 

 of annual industrial exhibitions, until then unknown in Europe 

 or America, the standard of public taste and public expectation 

 has, as we are happy to know, and partly, we believe, through 

 our own efforts, been very much elevated. "We are willing that 

 the exhibition of 1859, should be tried by that standard. 



We believed, and believe, that the pecuniary results, although 

 important, are not a paramount consideration with the American 

 Institute. We believed, when w^e commenced our labors in Feb- 

 ruary, and still believe that our duty to the American farmer, 

 inventor, and mechanic is higher still. Every year we offer them 

 an opportunity to exhibit to New York, and the world, their pro- 

 ducts and inventions, without charge, and with a fair chance of 

 obtaining premiums of considerable intrinsic value, and which, as 

 badges of excellence and passports to public favor, are invaluable, 

 and have been to many the key to fortune. 



