JOURNAL OF EXECUTIVE COMMITTEE. 451 



The Building Committee, after some experience and a careful examination of the 

 subject, express, in their report, the opinion that a building fund of $250,000 will 

 probably be sufficient. 



The expediency of applying to the building fund, for four years to come, the inte- 

 rest accruing, over and above an annual sum of fifteen thousand dollars, alone re- 

 mains to be considered. 



It is evident that the act organizing the Institution contemplated the application 

 of a portion of the current interest, while the building was in progress, to its erection ; 

 for, after appropriating the accumulated interest for the erection of a building, it 

 adds, in the fifth section, "together with such sum or sums out of the annual inter- 

 est accruing to the Institution as may, in one year, remain unexpended, after paying 

 the current expenses of the Institution." The sole question, then, is what amount 

 of that interest may, judiciously, be thus applied. 



It will be admitted, that the amount suggested for the current expenses of the In- 

 stitution, until the building shall be completed, to wit : the annual sum of fifteen 

 thousand dollars, is a sufficient one gradually to bring its plans into execution, pro- 

 vided a considerable portion of the same be not annually expended in the purchase of 

 books and collections. 



The committee think this cannot wisely or advantageously be now done ; and that, 

 for the present, the only purchases made of books for the Institution, should be as 

 heretofore expressed in the report of the Committee on Organization, of "such valu- 

 able works of reference, as, in the prosecution of its plan, may be required." In 

 accordance with these views, the committee report a resolution. 



If any considerable amount of books, beyond those required for present reference, 

 be purchased at this time, they will lie in boxes, with much risk of injury, and no 

 possibility of being accessible to the public. Nor, the committee think, will it be 

 prudent or desirable, while the main building is in progress, and while temporary 

 arrangements must be made in one of the wings for the reception of such works, as 

 by purchase, by exchange, and from other sources, shall have accumulated in the 

 library, to open that provisional library to the public. Few would be likely to resort 

 to it, as a place of study, amid the noise and confusion incident to the erection of an 

 extensive building. 



Again, though no large sums be spent directly for books, for the present, every ap- 

 propriation made for the publication of Transactions, or other works, to be distrib- 

 uted to learned scientific societies throughout the world, is a virtual contribution to 

 the library. It cannot be doubted that the exchanges to which, by such extended 

 distribution, the Institution will bo entitled, will, in many cases, over pay, in the 

 shape of additions to the library, the cost of the works distributed. 



And, finally, it should be remarked, that, under the scale of expenditure herein 

 proposed, the sum of a hundred and forty thousand dollars will be added to the orig- 

 inal capital of the Institution ; making an addition to its income of eight thousand 

 four hundred dollars, annually, forever ; one-half of which, by the resolutions, will 

 enure to the benefit of the library. It was doubted, at the time of the passage of 

 these resolutions, whether, under their operation and supposing the entire income of 

 the Institution to be the interest from its original capital, the permanent annual ap- 

 propriation for the purchase of books, could exceed from four to five thousand dol- 

 lars. By the operation of the present plan, it may, therefore, be considered as 

 doubled, or nearly so. The additional four thousand two hundred dollars added, by 

 that plan annually, forever, to the library appropriation, is far more than an equivalent 

 for the delay it presupposes in the accumulation of works not wanted for immediate 

 reference or present purposes ; a delay extending only to the period when suitable 

 permanent arrangements can be made for their reception. 



In accordance with the views herein given, the committee append to their report a 

 series of resolutions, of which, they recommend the passage. 



All which is respectfully submitted. 



"W. W. SEATON, ) 



EOBERT DALE OWEN, V Committee. 

 JOSEPH G. TOTTEN, J 



Resolutions appended to Report of Executive Committee. 



Resolved, That the balance on hand, standing to the credit of the chairman of the 

 Executive Committee on the 1st of December current, together with all interest 

 accruing to the Institution, up to the 19th of March next, to wit : the interest due on 

 the 1st of January next, and on the 17th of February next, amounting in all to the 

 sum of $25,046, be appropriated as follows : that is to say — 



