measures to exterminate its race from our flourishing State. That public attention may be elicited, we cheerfully submit the question, together with all the sentiments and propositions embraced in this report, to the sovereign people, the only legitimate source of power, who will undoubtedly respond in such a manner as to enable our next Legislature to act on these important subjects, understandingly, and "by authority."

All which is respectfully submitted.

AN ACT

To incorporate a State Agricultural Institution.

The People of the State of New-York, represented in Senate and Assembly, do enact as follows:

S1. There shall be established a State agricultural society, which shall be known by the name and style of the New-York Agricultural Institution, for the term of twenty years, as a body politic and corporate, which shall be composed of delegates from the several county societies which now are, or may hereafter be organized, to be elected either at the annual meeting, or by a board of managers; and also of the members of both branches of the State Legislature, as the members thereof, who shall annually convene at the Capitol in the city of Albany, on the first Tuesday of February, for the choice of officers and the transaction of business: and in case any county society shall neglect to elect said delegate, in manner aforesaid, the president thereof shall be, exofficio, such delegate, or he may appoint a proxy.

$2. Said institution hereby established shall be endowed with an annual appropriation of twenty-five thousand dollars from the State treasury, to be paid by the Treasurer of the State, on the warrant of the Comptroller, to the treasurer of said institution; and shall be by him distributed among the several county societies, on the ratio of one hundred and fifty dollars to each member of the Assembly; which amount shall be expended by said societies in premiums for practical and experimental improvements in agriculture, horticulture and manufactures; and the residue of the sail twenty-five thousand dollars, (being nearly six thousand dollars,) shall constitute a fund for the said State institution, to be expended in procuring choice, select, rare and useful animals, vegetables, seeds, implements, and essays on agriculture, for public distribution.

$ 3. The citizens of the several counties of this State are hereby authorised and required to form a county agricultural and hor[Assem. No. 312.]

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ticultural society in their respective counties, which shall be organized by electing such and so many officers and committees as they may deem necessary, whose duty it shall be to draw their respective quotas of the public moneys hereby appropriated, by the draft of their presidents, certified and sealed by the county clerk, on the treasurer of the State society. And it shall also be the duty of said county officers to distribute said moneys so drawn, after paying the necessary contingent expenses, for premiums on the best articles of agricultural and horticultural products, farm stock, experiments in farming and gardening, routine of crops, premium farms, and all the varieties of domestic, household and shop manufactures.

4. It shall be the duty of the treasurer of each county sociesty, on or before the first day of January annually, to render an account of the application of all the moneys which shall come into his hands, to the treasurer of the State society, whose duty it shall be to render a like account to the Comptroller of this State; and the surplus funds of any one year, if any, shall be applied in extending the list of premiums for the succeeding year: and any county which shall fail to form and organize a society, shall forfeit its quota of the State appropriation, and the amount thereof shall be carried, either to the disposable funds of the State society, or to the next year's fund for distribution to the county societies.

$5. The president, corresponding secretary, recording secretary, and the treasurer of the State institution, may be allowed a salary, not exceeding two hundred dollars per annum, for their services; and the like officers of the several county societies, together with the managing committee and the reviewing committee for premium farms, may be allowed a sum not exceeding twelve shillings per day, for actual services rendered, in making preparations for, and in superintending the public exhibitions, and other business concerns of the society.

$6. The object of this act of incorporation being to improve the condition of agriculture, horticulture and the household arts, said corporation shall be allowed, for these purposes only, to take and hold real and personal estate, the former to the amount of twenty-five thousand dollars; and shall possess the general powers, and be subject to the liabilities and provisions contained in title third of the eighteenth chapter of the first part of the Revised Statutes.

IN ASSEMBLY,

April 16, 1833.

REPORT

Of the committee on trade and manufactures, on an engrossed bill from the Senate, entitled "An act to incorporate the North River Whaling company."

Mr. Myers, from the minority of the committee on trade and manufactures, to whom was referred an engrossed bill from the Senate, entitled "An act to incorporate the North River Whaling Company," with a capital of three hundred thousand dollars, to be located at Newburgh, in Orange county, have had the same under consideration, and after bestowing on the subject that attention the nature of the claim seems to merit,

REPORTED:

That strong doubts rest on their minds as to the policy and expediency of increasing this class of incorporations, because there is a marine and commercial company, with a declared capital, beyond which the stockholders are not made liable in case of failure, beyond that amount. All incorporations of this sort are able to obtain credit to large amounts in great or small sums; and hazard is attached to all commercial pursuits, more especially to ma rine adventures. It is true they may guard against loss by becoming insured, but it does not follow that such incorporations will always be willing to pay large amounts of premium to other in< corporated companies, when they have the right of being their own underwriters, saving the premium of insurance as a part of the profits of the voyages; as the number of their ships increase, the objections to pay the premium also increases; the idea that they will seldom lose a ship, and when they do, the premiums saved on many other voyages, will enable them to bear the loss; [Assem. No. 213.]