4 REPORT OF THE SECRETARY. 



gave the amoiiut in cash to the Secretary, Avho deposited it in the 

 United States Treasury at Washington, witli the understanding that 

 an early meeting of the Board woukl be called as a body to consider 

 its acceptance. 



The essential conditions are that the income of !|10(),000 of this gift 

 shall be permanently devoted to the increase and diffusion of more 

 exact knowledge in regard to the nature and properties of atmos- 

 pheric air in connection with the welfare of man; the income of the 

 remaining >^1(U>,0()() being for the general purposes of the Institution, 



In view of the importance of the subject I Inive referred to it again 

 later in the report, under a- distinct heading. 



I may call attention in this i)lace to the fact that the Smithsonian 

 Institution is, by rea^oii of its far-reac-hing connection with the scien- 

 tific world, enabled to make specially effective use of sums given for 

 immediat(^ employment i)i specific pur})oses or investigations. A few 

 such special trusts (distinct from those for adding to the permanent en- 

 dowment) have been committed to the Institution in the past, through 

 the Secretary, and yet I feel assured that, were the intentions of the 

 Regents better understood in this regard, the Institution would much 

 more frequently be made the medium for giving eft'ect to the plans of 

 those interested in promoting specific researches, as well as in making 

 permanent endowments. 



The i)ermanent funds of the Institution areas follows: 



Bequest of Smithsou. 1846 $515, 169. 00 



Residuary legacy of Smithsou, 1867 26, 210. 63 



Deposit from savings of income, etc. , 1867 108, 620. 37 



Beciuest of James llamiltou, 1875 1, 000. 00 



Bequest of Simou Habel, 1880 500. 00 



Deposit from proceeds of sale of Ijonds, 1881 51, 500. 00 



Hodgkins' gift, 1891 200, 000. 00 



Total permaueut Smitlisouiau fund iu the Treasury of the United 



States, bearing interest at 6 per cent, per annum $903, 000. 00 



At the beginning of the fiscal year the balance o]i hand was $40,062.11. 

 Interest on the invested fund, amounting to '$I:4:,I81.3G, has been 

 received from the Treasury of the United States during the year, and 

 from sales of puldications and miscellaneous sources, including repay- 

 ments on account of international exchanges, $2,974.23, making a total 

 of $87,517.70. 



The total expenditures, as shown in detail in the rei)ort of the Execu- 

 tive Committee, have been $39,ti42.o7, leaving an unexpended balance 

 on June 30, 1892, of $47,875.33. This includes a sum of $10,000, the 

 amount of a bequest of $5,000 from the late Dr. J. H. Kidder and a 

 donation of a like amount from Dr. Alexander Graham Bell personally 

 to the Secretary for physical investigations, which was, with the donors 

 consent, deposited by the Secretary to the credit of the funds of the 

 Institution, subject to order. Neither of these sums, then, forms a j)or- 



