22 



Report of the President 



be added not less than two million dollars to meet the current 

 operating costs of the institution without deficiency. During 

 the past two years the deficiency of $113,240.77 has been met 

 by individual contributions of the Trustees, amounting to 

 $55,700.00 in 1919 and 1920, and by the use of accrued inter- 

 est of the Sage Bequest under the terms of the will to the total 

 amount of $57,540.77 in 1920. To meet the deficiency in 192 1, 

 accrued interest, estimated at $40,000.00, on the balance of the 

 Sage Bequest, will be used, but this accrued interest will not 

 be available in the year 1922, when the estimated income from 

 our General Endowment and the Sage Funds will be $134. 

 541.57, leaving an estimated deficiency of $70,000.00. To pre- 

 pare for this deficiency it is very important at the present time 

 to use every means possible to increase our General Endow- 

 ment by adding the sum of two million dollars to it. 



The Museum shares with every institution in the United 

 States the doubling of costs, which is due ultimately to the 

 doubling of costs of living and to the doubling of wages. The 

 rising costs of maintenance are indicated in the accompanying 

 figures covering the last decade, namely, from 1910 to 1920, 

 inclusive : 



Year 



Appro- 

 priation from Gen- 

 eral Endowment and 

 from Special Contri- 

 butions of Trustees 



I9IO $196,634.00 



I9II 218,713.65 



1912 265,409.86 



1913 244,414.68 



1914 213,926.50 



1915 286,253.36 



I9l6 359,836.20 



1917 494,000.15 



I9l8 453,010.13 



1919 419,366.25 



1920 551,95677 



Appropriation 

 by Taxation 



$185,757.00 

 189,757.00 

 195,000.00 

 200,000.00 

 200,000.00 

 200,000.00 

 212,999.00 

 212,700.00 

 225,000.00 

 200,000.00 

 310,983.13 



Total 



Appropriations 



for Maintenance 



from Taxation, 



Endowment, Gifts 1 



$382,391.00 

 408,470.65 

 460,409.86 

 444,414.68 

 413,926.50 

 486,253.36 

 572,835.20 

 706,700.15 

 678,010.13 

 619,366.25 

 862,939.90 



$3,703,521.55 $2,332,196.13 $6,035,717.68 



1 In the Fifty-first Annual Report, for the year 1919, it was pointed out 

 that a separate educational tax is very desirable. The existing taxpayers of the 

 City constitute only one-tenth of the entire population of the City of New York, 

 on whom rests directly the whole burden of supporting education, as well as the 

 general welfare of the people. In 1919 there were 578,043 taxpayers in the City 

 of New York out of a total population of 6,006,794. The movement towards a 

 wider distribution of the burden of taxation for educational purposes has made 

 distinct progress during the past year. 



