Report of the Executive Committee of the 

 Board of Regents of the Smithsonian 

 Institution 



For the Year Ended Jane 30, 1962 



To the Board of Regents of the Smithsonian Institution: 



Your executive committee respectfully submits the following report 

 in relation to the funds of the Smithsonian Institution, together with 

 a statement of the appropriations by Congress for the Government 

 bureaus in the administrative charge of the Institution. 



SMITHSONIAN INSTITUTION 



PARENT FUND 



The original bequest of James Smithson was £ 104,960 8s 6d — 

 $508,318.46. Refunds of money expended in prosecution of the claim, 

 freight, insurance, and other incidental expenses, together with pay- 

 ment into the fund of the sum of £ 5,015, which had been withheld 

 during the lifetime of Madame de la Batut, brought the fund to the 

 amount of $550,000. 



The gift of James Smithson was "lent tx) the United States Treas- 

 ury, at 6 per centmn per annum interest" (20 USC. 54) and by the 

 Act of March 12, 1894 (20 USC. 55) the Secretary of the Treasury 

 was "authorized to receive into the Ti*easury, on the same terms as the 

 original bequest of James Smithson, such sums as the Regents may, 

 from time to time see fit to deposit, not exceeding, with tlie original 

 bequest the sum of $1,000,000." 



The maximum of $1,000,000 which the Smithsonian Institution was 

 authorized to deposit in the Treasury of the United States was reached 

 on January 11, 1917, by the deposit of $2,000. 



Under the above authority the amounts shown below are deposited 

 in the United States Treasury and draw 6 percent interest : 



Unrestricted 



funds Income 1962 



James Smithson $727, 640 $43, 658. 40 



Avery 14,0(X) 840.00 



Habel 500 30.00 



Hamilton 2,500 150.00 



Hodgkins (General) 116,000 6,960.00 



Poore 26,670 1,600.20 



Rhees 590 35. 40 



Sanford 1, 100 66. 00 



Total 889,000 53, 340. 00 



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