﻿Report 
  of 
  the 
  President 
  47 
  

  

  of 
  income 
  of 
  the 
  General 
  Account. 
  In 
  the 
  ultimate 
  analysis, 
  

   the 
  growth 
  of 
  the 
  collections 
  and 
  the 
  extent 
  of 
  the 
  Museum's 
  

   researches 
  and 
  explorations 
  are 
  dependent 
  largely 
  on 
  the 
  

   amount 
  of 
  the 
  permanent 
  endowment. 
  Even 
  with 
  the 
  addition 
  

   of 
  Mr. 
  Jesup's 
  bequest 
  the 
  endowment 
  is 
  insufficient 
  for 
  the 
  

   present 
  needs, 
  and 
  a 
  fund 
  of 
  at 
  least 
  $5,000,000 
  is 
  urgently 
  

   needed 
  if 
  we 
  are 
  to 
  maintain 
  our 
  present 
  position 
  among 
  the 
  

   museums 
  of 
  the 
  world. 
  

  

  Very 
  respectfully 
  yours 
  

  

  Henry 
  Fairfield 
  Osborn 
  

  

  President 
  

   May 
  1, 
  1909 
  

  

  