For several years, however, prior to 1867, owing to the erection of the Academy of Music and other public buildings, the Institute building was regarded as behind the times. The income from rental of portions of the building was dwindling to a low figure, and the financial support of the free library was becoming inadequate. Under these circumstances the directors remodeled the building in 1867, at an expense of about $3,000, a part of which was raised by life-membership subscriptions of $50 and $100, and the balance by a mortgage on the building. For twenty years (1867-87) this indebtedness necessitated the application of a portion of the income from the rent of the building and from the Graham endowment fund to the payment of the interest and the principal of the debt. Final payment on the mortgage was made early in 1887. The causes of the partial inactivity of the Institute during the twenty years (1867-87) are therefore apparent. The most that it was able to do was to circulate its library, keep up its classes in drawing, and provide for the annual addresses on the 22d of February. Freed from debt in 1887, the Institute was enabled once more to use the whole income from its funds and building for educational purposes, and again to become an important agent in the work of education in the city. The property of the Institute in 1887 consisted of the Institute building and land, valued at $90,000, a library of 12,000 volumes, a collection of paintings valued at $10,000, and endowment funds of $46,000. These last comprise the $27,000 bequeathed by Mr. Graham, the William H. Cary fund of $10,000 for the support of the library, and an increment of $9,000 realized through premiums on the sale of bonds. During the year 1887-88 a new era in the history of the Institute was inaugurated. The board of trustees determined to make the property of the Institute the nucleus of a broad and comprehensive institution for the advancement of science and art, and its membership a large and active association, laboring not only for the advancement of knowledge, but also for the education of the people, through lectures and collections, in art and science. It was observed that while Boston had the Lowell Institute, a society of natural history, and an art museum; while Philadelphia had the Franklin Institute, an academy of sciences, and a gallery of fine arts; and while New York had the Metropolitan Museum and the American Museum, yet that Brooklyn had nothing corresponding to these institutions. It was felt that Brooklyn should have an institute of arts and sciences worthy of her wealth, her position, her culture, and her people; that it was her duty to do more than she was then doing for the education and enjoyment of her people, and that some step should be taken looking towards the future growth and needs of the city in matters of art and science.