Excerpt from Appendix to the Journals of the Senate and Assembly, of the Eighteenth Session of the Legislature of the State of California, 1870, Vol. 3 During the first nine years of the society's existence, though of great benefit to the State, in directing the development of her resources, like most other public beneficiary institutions of those early days, it proved a financial failure, and a large debt accumulated against it, amounting, in eighteen hundred and sixty-three, to over twenty-six thousand dollars. For the past six years, however, under a different system of manage ment, it has been more successful in this respect, and to-day it does not owe a dollar, and has, as will be seen by the above exhibit, a small sum on hand with which to begin the work of another year. While encumbered with indebtedness, and the creditors anxious for their pay, the Board will frankly acknowledge that they have deemed it prudent, and, indeed, have considered it a duty, to manage the affairs of the society with an eye to the Speedy payment of the debt, believing that in this manner they could the sooner open for it a field of more ex tended and permanent usefulness. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.