44 EEPOET OF THE SECRETARY. 



expense of the improvement, while the value of property south of the 

 canal would be greatly enhanced. 



Before concluding this sketch of the history of the operations of the 

 Institution for the year 1868, it becomes my duty to mention the death 

 of Mr. William B. Bandolph, who for many years has acted as book- 

 keeper for the Institution, posting and auditing its accounts, and who 

 for 60 years had been connected with the Treasury Department of the 

 government. He was a gentleman of extensive information, a graduate 

 of Princeton College, of inflexible integrity, esteemed and beloved by 

 all who knew him. His life was prolonged with vigor of intellect be- 

 yond the usual term of earthly existence, and he died on the 15th of 

 May last at the age of 81. 



Since the death of Mr. Bandolph the entire charge of the accounts 

 has been given to the chief clerk, Mr. William J. Bhees, by whom they 

 are prepared for quarterly examination by General Delafield and Dr. 

 Parker, of the executive committee. 



In conclusion, from all the facts which have been given in this report, 

 as well as in previous ones, we think it may reasonably be claimed that 

 the administration of the Smithson fund, on the whole, has been success- 

 ful. Though the Institution has been subjected to loss by casualties, 

 and has been exposed to adverse conditions during the most troublous 

 times in the history of the nalon, yet it has continued noiselessly and 

 unostentatiously to extend its influence and benefits not only to every 

 part of this country, but to all portions of the civilized world. This 

 success, if maiuly due to the definiteness of conception in the original 

 plan, must, in no small degree, be attributed to the fact that the Chief 

 Justice of the United States is the head of the Board of Begents, whose 

 permanence of office, aside from other considerations, could not fail to 

 secure, as has been conspicuously evinced in the case of both Judge Taney 

 and Judge Chase, a warm and intelligent interest in the affairs of the 

 Institution. Neither is it possible to overlook, in this connection, the 

 favorable influence of the policy which, from the first, has invested in a 

 single officer, the Secretary, the executive charge of the operations, thus 

 confiding to him their conduct and rendering him responsible for their 

 results, without in a single case interfering with his acts. Moreover, 

 simple justice would require that due credit should be given to the capa- 

 ble and zealous assistants whom the Secretary has associated with him- 

 self in carrying on the multifarious and arduous duties of his office. 



Besyjectfully submitted. 



JOSEPH HENBY. 

 Washington, D. C, January, 1869. 



