‘ 
REPORT OF THE SECRETARY. 3 
the immense extension of the country since the Government accepted 
the trust; ” 
so that it seems most desirable that the fund should be enlarged, if 
only to represent the original position of its finances relatively to those 
of the country and institutions of learning. 
Everything which has occurred since this was written increases the 
force of the observation. I only remark upon it here to say that [have 
taken some pains to invite the attention of those who are seeking a 
trustee for the disposition of means intended for the advancement of 
knowledge, to the especial guaranties for security offered by the admin- 
istration of the Regents. 
It is proper to mention, in this connection, that I have during the past 
year come into communication with a gentleman who desires to donate 
$200,000 to the fund, provided he can do so on certain conditions, with 
regard to which I have not felt myself authorized to act without con- 
sulting the Regents, and as, nevertheless, they can not be assembled 
during the present year, [ have taken the unusual step, justified by the 
occasion, of telegraphing to each individual member of the body to ask 
his opinion. 
Favorable opinions have been received in answer to this from nearly 
all the Regents and I may anticipate a statement properly belonging 
to a later report when I say that the sum in question has sincé been 
placed in my hands by the donor, Mr. Thomas G. Hodgkins, of Setau- 
ket, Long Island, to be tendered to the Regents at their next meeting. 
The invested funds of the Institution are as follows, being in the 
same condition as in my last report: 
ONO STG SOU ko: Se teens Heke. Sec doce acne Puen ce een alewe wee ee $515, 169. 00 
Hemauarywloricy OL SMIGhHSON, T8605 2225-22 sec cls sees oe ce soceeece 26, 210. 63 
WSVOSlog LOM savin Ss OL mmcome, ete. 1867-2222 222. Sess ccs sce ee eee 108, 620. 37 
PESO anes LLAaMUtON LO (4 a8 sn. bse Ses Pole. Sos eee nsee ees 1, 000. 00 
PCCM OL SENEONMLADOL LSS) pate isns c/s so o's soe mcts oes = sles cise setae 500. 00 
Deposits from proceeds of. sale-of bonds, 1881....-...=-...-------<-+---2 51, 500. 00 
Total permanent Smithsonian fund in the Treasury of the United 
States, bearing interest at 6 per cent per annum ...-...--..---.. 703, 000. 00 
At the beginning of the fiscal year the balance on hand was $30,192.65, 
Interest on the invested fund, amounting to $42,180, has been received 
from the Treasurer of the United States during the year, and from sales 
of publications and miscellaneous sources, including repayments on ac- 
count of international exchanges, $6,762.37, making a total of $79,135.02. 
The total expenditures, as shown in detail in the report of the exee- 
utive committee, have been $39,072.91, leaving an unexpended balance 
on June 30, 1891, of $40,062.11. This includes a sum of $10,000, the 
amount of a bequest of $5,000 from the late Dr. J. H. Kidder and a 
donation of a like amount from Dr. Alexander Graham Bell personally 
to the Secretary for physical investigations, which was, with the donor’s 
consent, deposited by the Secretary to the credit of the funds of the In- 
stitution subject to order. Neither of these sums, then, forms a portion 
