68 EIGHTH ANNUAL REPORT OF 



An appropriation of $30,000 was made at the last meeting of the 

 Board of Regents, to be expended under the direction of the Executive 

 Committee and the Secretary, for carrying on the operations of the In- 

 stitution. 



From the foregoing statement of accounts it will be seen that while 

 the library and museum have had their share of the appropriation, the 

 active operations have exceeded their part by upwards of $4,000. 

 This excess has been caused, principally, by printing and preparing 

 for the press a number of memoirs which are to form the volume of 

 contributions for the year 1854. 



Whatever may be the future distribution of the income, a greater ex- 

 penditure than has been made for the library and museum, during the 

 past year, could not, in the opinion of the committee, have been judicious. 



The additions to the library and museum, the former of which were 

 chiefly in return for the publications of the Institution under the system 

 of exchanges, have been considerable and valuable. A particular esti- 

 mate of these will be presented to the Board hereafter. 



The Board are referred to the report of the Secretary, recently sub- 

 mitted, for a detailed account of the operations of the Institution during 

 the past year. The committee think that these operations are in har- 

 mony with the law of Congress, with the objects of the founder of the 

 Institution, and successfully carry out his idea of the increase and diffu- 

 sion of knowledge. 



Alter the present year, during which the building will probably be 

 completed, the fund for annual expenditures will be somewhat en- 

 laro:ed, and increased benefits, it is hoped, will be realized. 



J. A. PEARCE, ^ 

 A. D. BACHE, > Executive Commitlee. 

 J. G. TOTTEN, ) 



