5 
who has already contributed §1000 to the fund, on the eve of his 
departure on a trip to Europe, addressed a note to the chairman 
of the board, in which he says, in case one of the lots or squares 
at Broad and Market streets is secured for its site, “ you may 
rely upon my subscribing a further sum of five thousand dollars 
towards the erection of the new building.” 
At the meeting of the board, held December 13th, Messrs. 
Ruschenberger, Vaux, Bridges, Rice and Graff were appointed 
a committee “ to procure plans of a building suitable for the 
Academy.” 
The treasurer reports, Jan. Tth, 1868, that the aggregate of 
subscriptions paid is §89,553, which, with accrued interest of 
§2890.56 received, makes the amount of the building fund in¬ 
vested §92,443.56, and that more than §20,000 subscribed remain 
still unpaid. 
To this summary of the proceedings of the board of trustees 
of the building-fund during the past year, it is proposed to add a 
brief exposition of the reasons which have influenced its course 
in relation to an enterprise, the success of which promises to be 
of incalculable advantage to the general interests of Philadelphia, 
and of some indirect benefit to the Academy. 
The advantages of education have long been generally recog¬ 
nized, but the time is not very remote in the past when the poor 
lived and died in ignorance of what they might have learned in 
schools, and the children of those only who had means to pay for 
instruction were educated. It came to be admitted that the most 
civilized are the happiest people ; that perfect civilization is in¬ 
separable from perfect education and the highest degree of cul¬ 
ture, w r hich are, to a great extent, sources of individual virtue 
and happiness ; and that the form and principles of republican 
government are fostered by diffusion of knowledge among the 
people. 
Faith in these fundamental ideas led the State to establish 
primary schools at the public expense, in which the children of 
all citizens, rich and poor, may be taught the elements of know¬ 
ledge, and be thus supplied with power to learn more. 
The same opportunities were offered to all, although men differ 
in mental capacity as much as they do in stature and muscular 
