JOURNAL OF EXECUTIVE COMMITTEE. 455 



The completion of this scheme of operations will, at the end of five years, that ia 

 to say, on the 19th of March, 1852, have afforded the following results: 



The building, grounds, &c, will be complete, and everything in readiness 



to go into full operation on an expenditure of $250 000 



There will have been expended on other objects, in fulfillment of the pur- 

 poses of the testator, the further sum of 68 50O 



$318,500 



The total amount of the fund, committed to the Eegents, was — 



Original capital $515,169 



Accumulated interest 242,129 



There will remain of this fund — 



Original capital 515,169 



Accumulated interest (in Treasury notes) 141,885 



$757,298 



657,054 

 Total reduction in the original fund $100,244 



But this reduction of $100,000 has produced fruits, in accordance with the design 

 -of the trust, to the value of $318,000. 



The income, after March 19, 1852, will be derived from the sum of $657,054 ; and 

 will annually amount to $39,423. 



The above calculations have disregarded small amounts. 



By selling the Treasury notes only at the moment their proceeds are wanted, a no- 

 table amount may be saved, which has not been estimated for above. 



And it may be, that other important savings may be made, by investing in other 

 Treasury notes, all accruing interests, that may not be immediately wanted. 



[Note. — The small variations between the results obtained through these estimates and those given 

 in the report of the committee, rest chiefly on this, that Mr. Totten has supposed the Treasury notes 

 sold out, on the 1st of July of each year ; while in the report, they are supposed to be sold on each 

 1st of January.] 



Mr. Owen submitted, relative to the seal of the Institution, a let- 

 ter from Mr. Stabler, a letter from Mr. Peale, chief coiner of the 

 Mint, at Philadelphia, and Mr. Stabler's account, as follows : 



Sandy Spring, 12 Month, 3, 1847. 

 E. Dale Owen. 



Respected Friend : Thy favor of yesterday is received. I can deliver the press 

 on the 8th, but fear it is not possible to have the stand and case ready. 



I have been waiting near three months for authority to have a mahogany stand 

 and case made, suitable, and in character with the other work ; which Colonel Seaton 

 felt a delicacy in giving, without the sanction of the other members of the committee. 

 As thou wast not in "Washington, I wrote to Colonel Totten, at Colonel Seaton's sug- 

 gestion, (some six or eight weeks since,) but have received no reply. 



Last week, I gave the order to have the stand and case made, and I fear it cannot 

 be done in time to deliver by the 8th, but, if practicable, it shall be, for I would like 

 to deliver it to the Board, collectively ; it being, by far, the finest finished piece of 

 work I ever executed, both seal and press. 



The price I usually charge the United States Government for my best press, (tho' 

 inferior in finish to this,) and a steel seal, including case, is $276. 



For this, I shall charge $376, and then not be near so well paid for the time and 

 labor bestowed in giving a correct likeness on steel. 



It has not been a profitable job, nor did I undertake it with that view ; but it was 

 to furnish something that would be a credit to the country and to the arts, as well as to 

 myself. It will last, too, for generations. 



I submitted an impression to the chief coiner of the Mint, perhaps as good a judge 

 as there is in the country, and enclose his reply, as to the value of such a die. 



Annexed is my bill, receipted, as thou requests; and I also enclose a few cards for 

 the Board to have an opportunity of seeing the proof impressions. 

 I am, very respectfully, thy friend, 



EDWAED STABLER. 



