he) 
from the income of the various contributing funds was reduced 
to 10 per cent. By this plan the principal amount had become 
$103,338.40, as of December 31, 1 
This plan has not involved any serious impairment of the work 
of the Garden, and 1f it can be continued it will, in time, provide 
a substantial addition to the permanent endowment for our scien- 
tific and educational work. ‘The plan contemplates that ultimately 
each contributing fund shall be reimbursed pro rata to the total 
of its annual contributions to the Endowment Increment Fund. 
The period of financial stress through which the entire world 
is now passing serves to emphasize the importance to scientific 
and educational institutions of not having to depend largely upon 
annual contributions, which fluctuate with the number and pros- 
perity and understanding interest of the contributors. The cost 
of their maintenance and work should be provided for in some 
permanent manner so that they will not suffer periodic impair- 
ment with the fluctuations of business prosperity which are bound 
to recur in the future as they have in the past. The weakest 
point in the financial condition of the Brooklyn Botanic Garden 
is the extent to which it 1s dependent on annual contributions of 
funds for the financing of essential activities which should be 
considered a permanent part of its work. Lvery effort should be 
made to place these activities, as soon as possible, on the basis 
of a permanent endowment. I have, on several previous occa- 
sions, pointed out that to provide for work already organized but 
not endowed, and to provide for the normal expansion and enrich- 
ment of our work during the next few years will require the income 
at 5% per cent. on one million dollars of additional endowment. 
Compared with the provision made for botanical work in other 
places, this is a very modest sum. 
The City and the Garden 
The Tax Budget appropriation for maintenance of the Garden 
in 1931 was as follows: 
Requested Granted Change from 1930 
Personal service..............$122,954.00 $ 82,600. 00 
@bhen Codesy eevee An mties bes 28,446.37 18,740. 2470.00 (Decrease) 
BING Calls Mmeaesee return nape Se $151,400.37 $101,400. $2470.00 
