REPORT OF THE EXECUTIVE COMMITTEE. The Executive Committee of the Board of Regents respectfully submit the following statement as their report in relation to the funds of the Institution, the receipts and expenditures for the year 1870, and the estimates for the year 1871. Statement of the fund at the beginning of the year 1871. The amount originally received as the bequest of James Smithson, of England, deposited in the Treasury of the United States, in accordance with act of Congress of August 10, 1846.... The residuary legacy of Smithson received in 1865, deposited in the Treasury of the United States, in accordance with the act of Congress of February 8, 1867 .... Total bequest of Smithson Amount deposited in the Treasury of the United States, as authorized by act of Congress of February 8, 1867, derived from savings of income and increase in value of investments.... Total permanent Smithson fund in the Treasury of the United States, bearing interest at 6 per cent., payable semi-annually in gold. In addition to the above there remains of the extra fund derived from savings, &c., in Virginia State registered 6 per cent. bonds, at par value, $72,760, now valued at. Total investments.. Balance on hand January, 1871, of uninvested funds..... Total of the Smithson fund, January, 1871.. Receipts for 1870. Interest for 1870 on $650, 000, at 6 per cent. in gold...... Sale of useless materials. Repayment of expenses of explorations.. Repayment of freight and postage.. Total receipts for the year $515, 169 00 26, 210 63 541, 379 63 108, 620 37 650, 000 00 48, 000 00 698, 000 00 21,477 81 719,477 81 $39, 000 00 4,363 12 1,200 00 360 52 64 87 68 40 432 47 45, 489 38 Besides this balance of $508 16, there was a balance of $20,969 65 in bank, at the beginning of 1870, which makes the total uninvested and available balance mentioned in the general statement of.... 508 16 $21,477 81 In addition to the receipts mentioned above, the Institution received from and accounted to the Interior Department for $5,024, being part of the $10,000 appropriated by Congress for the preservation and care during the year ending June 30, 1871, of the specimens collected by various exploring expeditions. This sum is not included in the account of expenditures. Statement in detail of expenditures-1870. For printing blanks, circulars, receipts, &c.... For tools, materials for cleaning and incidentals... 1,566 22 770 98 829 19 389 13 478 16 For salaries of Secretary, clerks, and assist ants 10,273 30 14, 840 65 PUBLICATIONS AND RESEARCHES. For publishing Smithsonian contributions, 4to. For explorations, natural history, and arch- $6,986 57 3,065 37 3, 119 00 1, 414 13 $15, 873 22 MUSEUM AND EXCHANGES. .... For literary and scientific exchanges, through Expenditures during 1870 Estimated receipts for 1871. $4,165 62 5,008 84 9,424 22 44, 981 22 From interest on Smithson fund, in Treasury of the United Probable premium on gold, 10 per cent. on the above $39, 000 00 3,900 00 1,000 00 43, 900 00 For purchase of books and apparatus... For museum, (additional to congressional appropriation) For steam heating-apparatus fund.. Total 5, 000 00 2,400 00 1,500 00 5, 000 00 43,900 00 Besides the above estimated receipts, there is in bank, as before stated in the general account, the sum of $21,477 81. The committee have examined six hundred and twenty-one receipted vouchers for payments made during the four quarters of the year 1870. In every case the approval of the Secretary of the Institution is given on each voucher, and the certificate of an authorized agent of the Institution is appended, setting forth that the materials and property and services rendered were for the Institution, and to be applied to the purposes stated in the account. The quarterly accounts current, bank-book, check-book and ledger were also examined and found to be correct, showing a cash balance in bank on January 1, 1871, of $21,477 81. All of which is respectfully submitted. JANUARY 26, 1871. PETER PARKER, JOHN MACLEAN, Executive Committee. A meeting of the Board of Regents was held this evening, at the call of the Secretary. Present: Hon. L. P. Poland, Hon. L. Trumbull, Hon. J. A. Garfield, Hon. S. S. Cox, General Delafield, Hon. Peter Parker, Rev. Dr. J. Maclean, and Professor Henry, the Secretary. In the absence of the Chancellor, Judge Poland was called to the chair. The Secretary presented the report of the expenditures on account of the Government collections for the year 1869; and, on motion of General Garfield, it was resolved that the Board of Regents apply to Congress for an appropriation of $10,000 for the care of the Government collections during the year 1870. Professor Henry stated that the resolution of the board adopted at the meeting of February 3, 1870, authorizing him to visit Europe, had been entirely unexpected to him, as he had received no intimation previous to its being offered that it was in contemplation; that he had concluded to avail himself of the resolution, and that he was making preparations for his departure on the 1st of June; that he intended to make arrangements for the operations of the Institution which were to be carried on during his absence; that he intended to settle all the accounts which would be due at the time of his departure; to deposit checks for the salaries accruing during his absence, to be paid on the indorsement of Professor Baird; and also to deposit to the credit of that officer $2,000, to pay transportation and incidental expenses; that he had been much gratified with the expressions of kind feeling which had been called forth by the announcement of his intended visit to Europe, and the offers which he had received from the Cunard and Bremen lines of steamers of a free passage across the ocean. The board then adjourned. WASHINGTON, January 18, 1871. In accordance with a resolution of the Board of Regents of the Smith sonian Institution, fixing the time of the beginning of their annual meet |