IIoN. II. iiami.in's address. 17 



Amount brought forward §541,379 (33 



Amount deposited in the Treasury of the United 

 States as authorized by act of ( '< ingress of Feb- 

 ruary 8, 1867, derived from savings of income 

 and increase in value of investments 108, 620 37 



Amount received as the bequest of James Ham- 

 ilton, of Carlisle, Pennsylvania, February 2 I. 

 1S74 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 ' ' > 



To that sum should be added as the present value 



of State stocks held by the Institution 35, 000 00 



Making a total fund, of 686, (ton 00 



In addition to the above the Institution has — 



Cash on hand for current operations 25, 000 0* 



Value of building and furniture, a >st 500, 000 00 



Value of library 200,000 00 



Value of stock on hand of its own publications, 



including twenty-one quartos and fifteen 



octavos, wood-cuts, and plates 50.0(H) 00 



Value of philosophical apparatus 5,000 00 



Value of works of art 2,000 00 



Total 1,468,000 00 



The foregoing statement shows a fund and property of the Insti- 

 tution of nearly one and a half millions of dollars in gold, or, to 

 analyze a little, a fund of six hundred and fifty-one thousand 

 dollar- at an interest of six per cent, per annum for the yearly 

 operations of the Institution. This is noticeable particularly in 

 the fact that the fund has been increased nearly one hundred and 



