REPORT OF THE SECRETARY. 15 



(For a detailed account of the expenditures, &c, see report of execu- 

 tive committee.) 



From this it appears that the total fund, including the Virginia stock 

 at its present value and the cash on hand at the end of the year, amounts 

 to $714,029.18. The receipts during the year 1876 were $47,486.21, and 

 the expenditures $46,978.21, leaving a balance of $50S to be added to 

 the balance on hand at the beginning of 1876. The interest on the 

 Hamilton bequest has been received to December 31, 1876, and, in ac- 

 cordance with the terms of the will, an appropriation was made from it 

 for an archaeological exploration in bone-caverns in the vicinity of Car- 

 lisle, Pa., the former residence ot Mr. Hamilton. The final results 

 will be given to the world accredited to James Hamilton, and in this way 

 his name will be perpetuated with that of Smithson, and his donation 

 serve as an example to be followed by others who may desire to benefit 

 the world and live in the history of science long after their departure 

 from this life. 



The interest on the Virginia bonds received during the year was 

 $2,907.75. The marketable value of this investment remains about the 

 same as it was at the date of the last report. 



A fact which has been omitted through inadvertence in previous 

 reports should here be mentioned, that the Institution is greatly in- 

 debted to our highly esteemed fellow-citizen, W. W. Corcoran, esq., for 

 valuable suggestions in its early financial history; aud especially for 

 the transferring to the Regents, at par, instead of at the market value, 

 of $240,000 of United States bonds as a safe investment of the amount 

 of accumulated interest devoted to the erection of the building. 



PUBLICATIONS. 



Since the reports of the Institution are separately distributed to many 

 persons who have not ready access to the whole series, it is necessary 

 in each succeeding one to repeat certain facts which may serve to give 

 an idea of the general organization of the establishment. The followiug 

 statement is therefore repeated : 



The publications of the Institution are of three classes, viz, the Con- 

 tributions to Knowledge, the Miscellaneous Collections, aud 

 the Annual Reports. The first consists of memoirs containing positive 

 additions to science resting on original research, and which are generally 

 the result of investigations to which the Institution has, in some way, 

 rendered assistance. The Miscellaneous Collections are composed of 

 works intended to facilitate the study of various branches of natural his- 

 tory, meteorology, &c, and are principally designed to induce individuals 

 to engage in these studies as specialties. The Annual Reports, besides 

 an account of the operations, expenditures, and condition of the Insti- 

 tution, contain translations from works uot generally accessible to Amer- 

 ican students, reports of lectures, extracts from correspondence, &c. 



