REPORT OF THE EXECUTIVE COMMITTEE. 



The executive committee of the Board of Regents respectfully sub- 

 mit the following report in relation to the funds of the Institution, the 

 receipts and expenditures for the year 1874, and the estimates for the 

 year 1875 : 



Statement of the fund at the beginning of the year 1875. 



The amount originally received as the bequest of James 

 Smithson, of England, deposited in the Treasury of the 

 United States, in accordance with the act of Congress of 

 August 10, 1846 $515, 169 00 



The residuary legacy of Smithson, received in 1865, depos- 

 ited in the Treasury of the United States, in accordance 

 with the act of Congress of February 8, 1867 26, 210 63 



Total bequest of Smithson 541, 379 63 



Amount deposited in the Treasury of the United States, as 

 authorized by act of Congress of February 8, 1367, de- 

 rived from savings of income and increase in value of 



investments 108, 620 37 



Amount received as the bequest of James Hamilton, of 

 Carlisle, Pa 1,000 00 



Total permanent Smithson fund in the Treasury of the 

 United States, bearing interest at 6 per cent., payable 

 semi-annually in gold 651, 000 00 



In addition to the above there remains of the extra fund 

 from savings, &c, in Virginia bonds and certificates, 

 viz: Consolidated bonds, $58,700; deferred certificates, 

 $29,375.07; fractional certificate, $50.13: total, $88, 125.20; 

 now valued at 35,000 00 



Cash balance in the United States Treasury at the begin- 

 ing of the year 1875, for current expenses 15, 909 99 



Amount due from First National Bank, Washington, 



$4,112.43, (present value unknown) 



Total Smithson funds 15th January, 1875 $701, 909 99 



572 



