REPORTS OF THE EXECUTIVE COMMITTEE. 497 



An appropriation of $30,000 was made at the last meeting of the Board of Eegents, 

 to he expended under the direction of the Executive Committee and the Secretary, 

 for carrying on the operations of the Institution. 



From the foregoing statement of accounts it will be seen that, while the library 

 and museum have had their share of the appropriation, the active operations have 

 exceeded their part by upwards of $4,000. This excess has been caused, principally, 

 by printing and preparing for the press a number of memoirs, which are to form the 

 volume of Contributions for the year 1854. 



AVhatever may be the future distribution of the income, a greater expenditure than 

 has been made for the library and museum, during the past year, could not, in the 

 opinion of the committee, have been judicious. 



The additions to the library and museum, the former of which were chiefly in re- 

 turn for the publications of the Institution, under the system of exchanges, have 

 been considerable and valuable. A particular estimate of these will be presented to 

 the Board hereafter. 



The Board are referred to the report of the Secretary, recently submitted, for a 

 detailed account of the operations of the Institution, during the past year. The 

 committee think that these operations are in harmony with the law of Congress, with 

 the objects of the founder of the Institution, and successfully carry out "his idea of 

 the increase and diffusion of knowledge. 



After the present year, during which, the building will probably be completed, the 

 fund for annual expenditures will be somewhat enlarged, and increased benefits, it is 

 hoped, will be realized. 



J. A. PEAECE,^ 



A. D. BACHE, >- Executive Committee. 



J. G. TOTTEN, J 



Report of the Executive Committee for the year 1854. 



The Executive Committee submit to the Board of Eegents the following report 

 relative to the present state of the finances, and the expenditures during the year 1854: 

 The whole amount of tlie Smithsonian bequest, deposited in the Treas- 

 ury of the United States, (from which an annual income, at 6 per 



cent., is derived of $30,910.14,) is $515,169 00 



Amount of unexpended interest, reported last year as in 



charge of Messrs. Corcoran & Eiggs $179,408 02 



From which deduct amount passed by them to the credit 

 of the treasurer to meet payments on building during 

 1854 54,408 02 



125,000 00 



Balance in the Treasury, January 1, 1855 14,159 59 



139,159 59 



$654,328 59 



The following is a general view of the receipts and expenditures for the year 1854, 

 exclusive of amount drawn from Corcoran § Riggs on account of the building. 



RECEIPTS. 



Balance in the Treasury, as per last report $6,944 68 



Interest on the original fund for the year 1854 30,910 21 



Interest on the extra fund for the year 1854 7,276 39 



$45,131 28 



EXPENDITURES. 



For items common to the objects of the Institution $12,752 00 



For publications, researches, and lectures 8,094 38 



For library, museum, and gallery of art 9,512 19 



For building purposes — difference between the amount 

 expended and the amount withdrawn from Corcoran & 



Eiggs 613 12 



Balance in the Treasury 14,159 59 



$45,131 28 



32 



