REPORT OF THE EXECUTIVE COMMITTEE. 



The executive committee of the Board of Eegents respectfully submit 

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

 appropriations by Congress for the support of the National Museum, 

 the receipts and expenditures for both of these departments for the 

 year 1875, and the estimates for the year 1876: 



FINANCES. 



Statement of the condition of the funds at the beginning of the year 1876. 



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, 1867, 

 derived from savings of income and increase in value of 



investments 108,020 37 



Amount received as the bequest of James Hamilton, of 



Carlisle, Pa., February 24, 1874 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 , 42, 000 00 



Cash balance in the United States Treasury at the begin- 

 ning of the year 1876, for current expenses 20, 555 82 



Amount due from First National Bank, $2,050.22, (value 



unknown) 



Total Smithson funds 20th January, 1876 713, 555 82: 



578 



