REPORT OF THE SECRETARY. 15 



really rendered to the government by the Institution, I may here state 

 the fact that a large share of my time — all, indeed, which could be 

 spared from official duties — has been devoted for the last four years to 

 investigations required by the public exigencies. Within this period 

 several hundred reports, requiring many experiments, and pertaining 

 either to proposals purporting to be of high national importance, or 

 relating to the quality of the multifarious articles offered in fulfilment 

 of legal contracts, have been rendered. The opinions advanced in 

 many of these reports not only cost much valuable time, but also in- 

 volved grave responsibilities. While, on the one hand, the rejection 

 of a proposition would be in contravention to the high importance 

 claimed for it by its author, on the other the approval of it would per- 

 haps incur the risk of the fruitless expenditure of a large amount of 

 public money. It is not necessary, I trust, to say that the labor thus 

 rendered was entirely gratuitous, or that in the judgment pronounced 

 in any case no regard was paid to the interested solicitations or per- 

 sonal influence of the parties concerned; on the contrary, it has in 

 some instances resulted from the examination of materials sold to the 

 government that attempted fraud has been exposed and the baffled 

 speculator received his due reward in condemnation and punishment. 

 These facts, it is thought, will be deemed a sufficient answer to 

 those who have seemed disposed to reproach the Institution with the 

 want of a more popular demonstration, but far less useful or efficient 

 aid in the support of the government. 



At the close of 1864 the affairs of the Institution were in a highly 

 prosperous condition. It will be seen by a reference to the report 

 of the executive committee that — 



First. The whole amount of money originally derived from the 

 bequest of Smithson is still in the treasury of the United States 

 bearing interest at six per cent., paid semi-annually, and yielding 

 $30,910. 



Second. Seventy-five thousand dollars of an extra fund are in 

 bonds of the State of Indiana, at five per cent, interest, also paid 

 semi-annually, yielding $3,750. 



Third. Fifty-three thousand five hundred dollars of the same fund 

 are in bonds of the State of Virginia, twelve thousand in those of 

 Tennessee, and five hundred in those of Georgia, from which nothing 

 has been derived since the commencement of the war. 



Fourth. A balance of upwards of $29,000 is now in the hands of 

 the treasurer of the Institution. The only difference in this state- 



