REPOKT OF THE SECRETARY. 



To the Board of Regents : 



Gentlemen : From the facts presented in the following report of the 

 operations of the Institution, I trust it will .be apparent to your honor- 

 able Board and the public that nothing has occurred since your last 

 session to interfere with the plan of organization, or with the trans- 

 actions authorized in accordance with it ; on the contrary, I think it 

 will be evident that the labors to increase and diffuse knowledge hare 

 been unremitting, and that the results of these labors have met the 

 approval and drawn forth the commendation of intelligent men in 

 every part of the civilized world. 



It will also appear that due attention has been paid to the finances, 

 and although the expectation of assistance from the Patent Office on 

 account of meteorology has not been realized, yet the expenditures 

 have been kept within the receipts. 



The annual income of the original bequest has been received from 

 the Treasury of the United States, and the interest on the extra fund 

 invested in State stocks has been promptly paid. From the report of 

 the executive committee, it will be seen that there were $15,034 11 in 

 the hands of the treasurer at the beginning of the year 1860 ; and that, 

 on the closing of the accounts for receipts and payments for the past 

 year, there is a balance on hand of $16,521 95. There are, however, 

 outstanding bills, on account of work already contracted for, amount- 

 ing to about $4,000, principally for publications which belong to the 

 year 1861. 



From this statement, it is apparent that the Institution could wind 

 up its affairs at the present time with all the original fund bequeathed 

 by Smithson in the Treasury of the United States, with an investment 

 of $140,000 in State stocks, a balance in cash in its treasury of 

 upwards of $12,000, and an extensive building containing a valuable 

 library and collection of apparatus; and, for the history of its opera- 



