EEPOET OF THE SECEETAKY. 5 



As a reason for making this bequest to the Smithsonian Institution, 

 Mr. Poore in his will says : " I make this gift not so much because of 

 its amount as because I hope it will proA^e an example for other 

 Americans to follow, by supporting and encouraging so wise and 

 beneficent an institution as I believe the Smithsonian Institution to be, 

 and yet it has been neglected and overlooked by American citizens." 



The Kahn Foundation. — The Smithsonian Institution is closely 

 allied with a number of organizations and movements of importance 

 to the public through the membership of the secretary in various 

 boards of trustees. Some of these are mentioned elsewhere in this 

 report and among others are the Carnegie Institution of Washington, 

 with whose administration the secretary has been connected since 

 its establishment, and " The Kahn Foundation for the Foreign Travel 

 of American Teachers." The last-named organization was' founded 

 in 1911 through a deed of gift and trust between Albert Kahn, of 

 Paris, France, of the first part, and Edward D. Adams, Nicholas 

 Murray Butler, Henry Fairfield Osborn, of New York; Charles W. 

 Eliot, of Cambridge ; and Charles D. Walcott, of Washington, of the 

 second part. The founder had heretofore established certain trust 

 funds in France, Germany*, Japan, England, and other countries for 

 the purpose of defraying the expenses of teachers and supplying them 

 with what he termed " bourses de voyage " so as to enable them to 

 travel, observe, and study in foreign countries. He believes " that 

 the cause of civilization may be greatly encouraged and promoted by 

 travel on the part of teachers, scholars, and investigators, and that, 

 by the study and comparison of national manners and customs, and of 

 political, social, religious, and economic institutions of foreign coun- 

 tries, they will become better qualified to teach and to take part in 

 the instruction and education of the people of their own nation." In 

 the selection of beneficiaries of the Kahn Foundation preference is 

 given to professors of American colleges or universities and, as a 

 rule, the itinerary is expected to involve an absence from America of 

 at least a year. The limited size of the fund does not permit the 

 granting of more than two or three fellowships each year. 



FINANCES. 



The permanent fund of the Institution and the sources from which 

 it was derived are as follows : 



Deposited in the Treasury of the United States. 



Bequest of Smithsoii, 1846 $535, 169.00 



Residuai-y legacy of Smithson, 1867 26, 210. 63 



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



Bequest of James Hamilton, 1875 $1, 000 



Accumulatecl interest on Hamilton fund, 1895- 1, 000 



2,000.00 



