14 REPORT OF THE SECRETARY. 



In this connection I would also call the attention of the Board of Re- 

 gents to the fact that the law of Congress, in establishing six years as 

 the term of service of the six Regents elected as citizens at large, pro- 

 vides, at the same time, that two vacancies shall occur at the beginning 

 of each new Congress and be filled by election. I am unable to say in 

 what manner there happened to be four vacancies at a time ; but in this, 

 as in the case previously mentioned, it is for the Board of Regents to 

 determine what action, if any, shall be taken in the premises. 



MEETING OF THE ESTABLISHMENT. 



The act of Congress organizing the Smithsonian Institution provides 

 for an annual meeting of the establishment, although there is no special 

 business to be prosecuted by that body, with the exception of a general 

 inspection of the condition of the Institution. The meetings, although 

 proposed by the Secretary, have, by the direction of the President, 

 mostly been omitted. The following table shows the number of meetings 

 held since the commencement of active operations by the Institution : 

 August 1, 1849. June 6, 1853. July 15, 1854. 



May 3, 1853. May 2, 1854. June 4, 1873. 



May 17, 1853. June 6, 1854. May 5, 1877. 



The usual notice of a meeting on the 6th of May, 1879, was made to 

 the President ; but, in the absence of any special necessity, it was, by 

 his authority, indefinitely postponed. 



FINANCES. 



In the report of the Executive Committee will be found a detailed 

 statement of the finances of the Institution, which are believed to be in 

 better condition than at any previous time, all arrearages having been 

 paid and a larger balance than usual being on hand. 



The following is a statement of the condition of the Smithsonian fund 

 at the beginning of the year 1880 : 



The amount originally received as the bequest of James 

 Smithson, of England, deposited in the Treasury of the 

 United States, in accordance with the act of Congress of 



August 10, 184G $515, 1G9 00 



The residuary legacy of Smithson, received in 18G5, deposited 

 in the Treasury of the United States, in accordance with 

 the act of Congress of February 8, 1867 26, 210 63 



Total bequest of Smithson 541, 379 63 



Amount derived from savings of income and increase in 

 value of investments, and deposited in the Treasury of 

 the United States, as authorized by act of Congress of 



February 8, 1867 108, 620 37 



Amount of bequest of James Hamilton, of Carlisle, Pa., 

 February 24, 1874 1, 000 00 



