REPORT OF THE EXECUTIVE COMMITTEE. 101 



ginia stock now held by the Institution is $72,760, wliicli it is considered adv^is- 

 able to retain for the present. 



The current income of the Institution is now deposited in the First National 

 Bank of Washington, the payment of bills being by checks drawn by the Sec- 

 retary, in accordance with the regulations prescribed by the Board at its last 

 annual session. 



The follov.ing may be considered an approximate estimate for the year 18C8. 



ESTIMATED RECEIPTS. 



Interest on the Smithson fund in the treasury of the United States, 

 viz : six per cent, on $050,000, payable July 1, 18G8, and 



January 1, 1869 " $39,000 00 



Probable premium on coin, say at 33 per cent 13,000 00 



Interest on Virginia bonds, viz. : 4 per cent, on $53,500 2,140 00 



Balance on hand January 17, 1868 11,485 56 



65,625 56 



APPROPRIATIONS. 



For current operations of the Institution $34,000 00 



For building, (including outstanding debts,) 20,000 00 



Estimated balance January 1, 1869 1 1,625 56 



65,625 56 



In conclusion, the committee have the satisfaction of again calling attention 

 to the fact that all the expenditures from the organization of the establishment 

 to the present time, including 8450,000 on the building, the publication and 

 distribution of 200,000 quarto and octavo volumes ; the collection of a library 

 of 60,000 works ; a museum containing 1,000,000 specimens ; and the distribu- 

 tion to other institutions of 250,000 specimens, have been made exclusively 

 from the income and its investments, and that the bequest has been increased 

 by an addition this year of 8108,620 37, making the total capital invested in 

 United States and other securities 8722,760. 



Attention is called to the expense of the National Museum, consisting of the 

 collections of various government exploring expeditions. In addition to the 

 appropriation by Congress for this object, from the income of the Institution 

 the sum of $7,606 20 has been expended during 1867. 



The committee have examined 680 vouchers, embracing several thousand 

 items, for payments during the year for legitimate purposes of the Institution, 

 and lind them correct and conformed to the rules adopted by the Regents on 

 the 22d of February, 1867. 



RICHARD DELAFIELD. 

 RICHARD WALLACH. 

 PETER PARIOiR. 



Washingtok, April 14, 1868. 



