EEPORT OF THE SECRETARY. 29 



supports its own bureau, in the majority of cases by means of direct 

 governmental grants. The London central bureau, which bears all 

 of the expense of editing and publishing the data prepared by the 

 regional bureaus, depends for its support entirely on funds received 

 from the subscribers to the work. In the beginning of the enter- 

 prise the subscription price was fixed at $85 per year for a full 

 set of 17 volumes, and it has been necessary to maintain this price, 

 as there are a limited number of libraries and scientific bodies whose 

 subscription to the work practically assures the sum necessary for 

 publication. The lack of any surplus, however, renders it impossi- 

 ble to reduce the price of the work in order to meet the demands of 

 a large number of scientific investigators, who are practically ex- 

 cluded as personal subscribers to this valuable source of information 

 owing to the present prices. 



Had the central bureau a permanent and independent income, de- 

 rived from an endowment or otherwise, it would be possible to adopt 

 the course which would under similar circumstances be followed 

 by a commercial publishing house having a liberal working capital; 

 that is, to reduce the price of the publication and depend on the cer- 

 tainty of increased sales to pay the relatively small expenses of print- 

 ing a larger edition of the work. An endowment of $100,000 prop- 

 erly invested would, it is believed, make it possible to carry out this 

 plan, and, for the end to be accomplished, it would be difficult to 

 find a better use for this comparatively small sum. A more detailed 

 statement of the condition of this interesting example of what may 

 be accomplished through international cooperation will be found in 

 the report of the bureau in the appendix. 



Respectfully submitted. 



Charles D. Walcott, Secretary. 

 65103°— 12 3 



