EEPORT OF THE SECRETARY. 37 



re-enforced, the fascination of its architectural display as presented 

 on paper proved too strong to be resisted. 



The adoption of this extensive and costly building was considered 

 so inauspicious a beginning that I had resolved to resign the office of 

 director, and make no further attempt to introduce the plan with a 

 view to the success of which I had accepted the position, when a 

 temporary compromise was proposed by which the several plans 

 might be brought to the test of experience, and an opportunity ap- 

 parently given for any modifications which might be found advisable. 



In order to meet the large expenditure on the building, to provide 

 for the support of the establishment necessarily connected with it, 

 and to leave the greater part of the interest of the original bequest 

 free to be applied to its more legitimate objects, it was resolved to 

 create an extra fund, while gradually developing the plans of organi- 

 zation, and for this purpose the following course was adopted: 



1. The building to be erected in parts, and its different portions 

 gradually brought into requisition, its completion being thus delayed 

 for a number of j^ears. 



2. The sum appropriated to the building, furniture, and grounds, 

 viz., $250,000, being mainly the interest which had accrued previous 

 to the organization, to be invested in United States treasury stock, 

 bearing interest. 



3. The plan of organization to be gradually developed, and, instead 

 of expending upon it from the first the whole interest of the original 

 bequest, a part of this to be also invested in treasury bonds. 



4. The remainder of the income to be divided between the active 

 operations on the one hand and the library and museum on the other. 

 The latter to be restricted principally to scientific books and to 

 type specimens. 



This compromise was adopted, and has been so successfully and 

 steadily carried out financially, that at the commencement of the 

 war, after paying for the building, accumulating a very valuable 

 library, establishing and supporting a large museum, and carry- 

 ing on all the active operations of the establishment, an extra fund 

 had been created amounting to $140,000. In order to secure this 

 from the contingencies of any future expenditure on buildings or 

 loss from hazardous investment, a petition was preferred to Con- 

 gress to take it from the care of the Regents and deposit it with 

 the original principal in the treasury of the United States, sub- 

 ject to the same restriction, viz., that the interest alone could be 

 expended. This petition not having been acted upon, the Regents 



