REPORT OF THE SECRETARY. 



FINANCES. 



The permanent funds of the Institution are as follows : 



Bequest 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 



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, Thomas G. Hodgkins, 1894 8, 000. 00 



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



Total permanent fund 912,000.00 



The Regents 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 Regents may, from time to time, see fit to 

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

 Provided, That this shall not operate as a limitation on the power of 

 the Smithsonian Institution to receive money or other property by gift, 

 bequest, or devise, and to hold and dispose of the same in promotion 

 of the purposes thereof. 



Under this section 5591 of the Revised Statutes, modified as above 

 noted, the fund of $912,000 is deposited in the Treasury of the United 

 States, bearing interest at 6 per cent per annum, the interest alone 

 being used in carrying out the aims of the Institution. 



At the beginning of the fiscal year, July 1, 1894, the unexpended 

 balance from the income and from other sources, as stated in my report 

 for last year, was $59,598.50. Interest on the permanent fund in the 

 Treasury and elsewhere, amounting to $56,153.92, was received during 

 the year, which, together with a sum of $6,074.38, received from the 

 sale of publications and from miscellaneous sources, made the total 

 receipts $62,228.30. 



The entire expenditures during the year, including the $1,000 accu- 

 mulated interest on the Hamilton fund, mentioned above, which was 

 added to the permanent fund, amounted to $58,825.06, for the details 

 of which reference is made to the report of the executive committee. 

 On June 30, 1895, the balance in the Treasury of the United States to 

 the credit of the secretary for the expenses of the Institution was 

 $63,001.74, which includes the sum of $10,000 referred to in previous 

 reports, $5,000 received from the estate of Dr. J. H. Kidder, and a like 

 sum from Dr. Alexander Graham Bell, the latter a gift made personally 



