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tJnited States securities. This plan of finance has been rigidly adhered to, 

 and it now appears from the account books of the Institution that after all 

 the expenditures on the buildino- and grounds, on researches, publications 

 and lectures, on the lil)rary, nuiseum and gallery of art, there is on hand 

 government security valued, at the })rcsent rate of j)remium, at $209,700, 

 so that the original amount and interest which had accrued previous to the 

 time at which the Institution came into the charge of the Regents, has only 

 been diminished by about $33,000. 



In accordance with a part of this plan, Congress has been requested to 

 take from the Institution $loO,000, to be placed with the original bequest 

 as a part of the principal, the interest of which alone can be expended, and 

 it is hoped that an act to this etfect will be passed during the present session. 



The committee have also examined the various and multiplied operations 

 of the institution as set forth in the report of the secretary, and they are 

 happy to assure the board and the public that, in their opinion, the benevo- 

 lent designs of the donor are faithfully and efficiently executed in accord- 

 ance with his injunction, to " increase and diffuse knowledge among men." 



The following is an abstract of the expenditures during the past year, 

 ranged according to the programme of accounts, which was submitted by 

 the executive committee at the last meetino- of the board : 



