Excerpt from Seventeenth Annual Report of the Massachusetts Agricultural College: January, 1880
To his Excellency the Governor and the Honorable Council: -
The Trustees of the Massachusetts Agricultural College respectfully submit their Seventeenth Annual Report.
The College is now, for the first time in several years, practically free from debt. Since the adjournment of the last Legislature, it has been thoroughly re-organized, so as to place it, if possible, upon a sound and strong financial or business basis. The current expenses have been reduced by more than ten thousand dollars a year, - sufficient to bring them within the income of the institution, and to leave a small margin.
To effect this reduction, it has been necessary to abolish one professorship and to withhold the president"s salary. The salaries of one or two professors, and that of the treasurer, though small already, were somewhat cut down; while a saving of about four hundred dollars has been made in the janitor"s work, and a little more than that in the office of farm superintendent. It is impossible to see how the expenses can be reduced to a much lower figure, without seriously crippling the usefulness of the College, and curtailing its efficiency.
The origin of the fund received under the Act of Congress of July 2, 1862, and the Act establishing the College by the Legislature of 1863, were stated in detail in the last Annual Report of the Trustees. As but few copies of that report were printed, and it is not readily accessible, the Acts of Congress and of the Legislature accepting the grant, and establishing the College, are presented on a subsequent page, where they will be found convenient for reference.
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