REPORTS OF THE EXECUTIVE COMMITTEE. 523 



under the direction of the Secretary of the Interior, in assisting to pay the expenses 

 of extra assistants in the museum, and the cost of arranging and preserving the 

 specimens. The sum received from this source has been credited to the museum* and 

 has served to diminish the amount of expenditures for that object on the part of the 

 Institution, although it has by no means been sufficient to defray all the expenses to 

 ■which the establishment has been subjected, on account of the preservation and pub- 

 lic - exhibition of the specimens. 



The articles intrusted to the care of the Institution are in good condition, and the 

 work of the distribution of the duplicates of the Government as well as those of the 

 Institution is in active progress. 



A part of the expenditure on the building is due to the introduction of the Poto- 

 mac water, but a further expenditure during the present year will be required for the 

 same purpose. 



Although the income of the Institution during 1861 has been nearly $4,000 less 

 than was estimated at the beginning of the year, yet the Secretary, by a proper cur- 

 tailment of the operations in view of the unsettled condition of the times, has 

 reduced the expenditures to $5,000 less than the actual income. All the outstanding 

 obligations of the Institution for works which have been commenced would not 

 exceed $2,000, so that the establishment could, to-day, wind up its affairs with $20,- 

 000 in cash, besides the undiminished original bequest of Smithson in the Treasury 

 of the United States, and $141,000 invested in State stocks, from which it is hoped, 

 at some future time, the full interest may be received. 



It is impossible, in view of the uncertainty of the future, to present even an approx- 

 imate estimate of the expenditures during 1862. The committee would, however, 

 submit the following, as a general guide to the Secretary : 



Estimated income |34,666 1.4 



Estimated expenditure : 



Eor building, furniture, and fixtures $2,000 00 



Eor general expenses ±._ 10,500 00 



Eor publications, researches, and lectures 10,500 00 



For library, museum, and gallery of art 9,000 00 



32,000 00 



The committee have carefully examined the books and accounts of the Institution, 

 for the past year, and find them to be correct. 

 Kespectfully submitted. 



J. A. PEAKCE,] 



A. D. BACHE, [Executive Committee. 



J. G. TOTTEN, J 



