REPORT OF THE SECRETARY. 6 



Government trusts, but it has thus far seemed inopportune to include 

 a request for such appropriation in my estimates to Congress. 



FINANCES. 



The unexpended balance at the beginning of the fiscal year, July 1, 

 1896, as stated in my last annual report, Avas $57,005.78. Interest on 

 the permanent fund in the Treasury and elsewhere, amounting to 

 $56,400, was received during the year, which, together with a sum of 

 $6,128.71 received from the sale of the publications and from miscel- 

 laneotis sources, made the total receipts $62,528.71, 



The disbursements for the year amounted to $58,061.99, the details 

 of which are given in the report of the executive committee. The bal- 

 ance remaining to the credit of the Secretary on June 30, 1897, for the 

 expenses of the Institution was $61,532.50, which includes the sum of 

 $10,000 referred to in previous reports, being $5,000 received from the 

 estate of Dr. J. H. Kfdder, and a like sum from Dr. Alexander Graham 

 Bell, the latter a gift made personally to the Secretary to promote cer- 

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

 deposited by the Secretary to the credit of the current funds of the 

 Institution. 



This balance also includes the interest accumulated on the Hodgkins 

 donation, which is held against certain contingent obligations, besides 

 relatively considerable sums held to meet obligations which may be 

 expected to mature as the result of various scientific investigations or 

 publications in progress. 



The permanent funds of the Institution are as follows : 



Beqiiest of Smithson, 1846 $515,169.00 



Residuary legacy of Smithson, 1867 26, 210. 63 



Deposits from savings of income, 1867 108, 620. 37 



Bequest of James Hamilton, 1875 $1, 000. 00 



Accumulated interest on Hamilton fund, 1895 1, 000. 00 



2, 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, T. G. Hodgkins, 1894 8, 000. 00 



Total permanent fund 912,000.00 



The Eegents also hold certain approved railroad bonds, forming a 

 part of the fund established by Mr. Hodgkins for investigations of the 

 properties of atmospheric air. 



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

 amendment was made to section 5591 of the Revised Statutes, the 

 fundamental act organizing the Institution, 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 Eegeuts may, from time to time, see fit to 

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

 Providedj That this shall not operate as a limitatiou ou the power of 



