REPORT OF THE SECRETARY. 3 



FINANCES. 



The permanent funds of the Institution are as follows: 



Bequest of Smithsou, 184G $515, 169. 00 



Residuary legacy of Suiithson, 1867 26, 210. 63 



Deposits from saviugs of iucoiue, 1867 108, 620. 37 



Bequest of James Hamilton, 1875 1^ 000. 00 



Bequest of Simeon Habel, 1880 500. 00 



Deposits from proceeds of sale of bonds, 1881 51, 500. 00 



Gift of Thomas G. Hodgkins, 1891 200, 000. 00 



Portion of residuary legacy, Thomas G. Hodgkins, 1894 8, 000. 00 



Total permanent fund 911, 000. 00 



By act of Congress approved by the President March 12, 1894, an 

 anieudnient was made to section ooUl of the Eevised Statutes, as 

 follows : 



The Secretary of the Treasury is authorized and directed to receive 

 into the Treasury, on the same terms as the original bequest of James 

 Smithson, such sums as the Kegents may, from time to time, see tit to 

 deposit, not exceeding, with the original bequest, the sum of $1,000,000, 



rroridedj That this shall not operate as a limitation on the power of 

 the Smithsonian Institution to receive money or other property by gift, 

 bequest, or devise, and to hold and dispose of the same in promotion of 

 the i^urposes thexeof. 



The above specified permanent fuml is dejiosited, under section 5591, 

 of the Revised Statutes, modified as above noted, in the Treasury of the 

 United States, bearing interest at per cent. per annum, the interest 

 alone being used in carrying out the aims of the Institution. 



At the beginning of the fiscal year, July 1, 1S93, the uuexpended 

 balance from the income and from other sources, as stated in my report 

 for last year, was $57,092.82. Interest on the permanent fund, amount- 

 ing to $54,180, was received during the year, which, together with a 

 sum of $7,787.06, received from the sale t»f publications and from mis- 

 cellaneous sources, and $8,000 received as a portion of the residuary 

 legacy from the estate of Mr. Thomas G. Hodgkins, made the total 

 receipts $09,967.06. 



The entire expenditures during the year, including the $8,000 men- 

 tioned above, which was added to the permanent fund, amounted to 

 $67,161.38, for the details of which reference is made to the report of 

 the executive committee. On June 30, 1891, the balance in the Treas- 

 ury of the United States to the credit of the Secretary for the expenses 

 of the Institution was $59,598.50, which includes the sum of $10,000 

 referred to in previous reports, $5,000 received from the estate of Dr. J. 

 H. Kidder, and a like sum from Dr. Alexander Graham Bell, the latter 

 a gift made persoimlly to the Secretary to promote certain jdiysical 

 researches. This latter sum was, with the donor's consent, deposited 

 by the Secretary to the credit of the current funds of the Institution. 



The Eegents also hold the sum of $42,000, received upon the death 



