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[[preprinted]] SMITHSONIAN INSTITUTION 748 [[/preprinted]] [[preprinted left margin]] MADE BY BAKER-VAWTER CO. [[/preprinted left margin]] be prepared. At the same time, your Committee realizes that there is naturally a risk in the preparation of such a statement, and it has, therefore, given the matter careful study. A tentative statement, subject to your consideration, has been prepared and will be submitted to you shortly. It is our desire that the whole statement shall be carefully read, and that each Regent will give the Secretary the benefit of his comments and criticism. This matter is well worthy of some discussion at this time. 9. The subject of the Secretary's statement of policy had the careful consideration of our colleague, Mr. Dwight Morrow, before he left for Mexico, on account of its relation to an effort to increase our unrestricted funds. It is in this connection appropriate to report that the first substantial gift made to the Smithsonian since we undertook to enlarge the unrestricted funds of the Institution, has come from Mr. Morrow. In April last he gave the Institution $10,000, and at the close of the calendar year 1927 he added to this gift $40,000, bringing his total gift to $50,000. In writing to me about this gift, he said:- "This, with the $10,000 that I gave in connection with some campaign commitments, will make a contribution of $50,000. I have always intended to do this this year in order that it may be of some use perhaps to Ellingston in getting some contributions from others. I do not want any publicity about the gift but of course it may be necessary for you or Mr. Ellingston to use privately the fact of this gift in getting some contributions from other sources. My preference should be that this gift of $40,000 should go into endowment and only the income should be used, but I want to give it absolutely unrestricted and with power to the Board to use the principal if in their opinion the best interests of the Smithsonian so require. Particularly it may be necessary in getting a new man to use some of the principal of this gift to supplement his salary during the first few years. I am quite confident that ultimately we will get a substantial gift from the Rockefellers, but they move so slowly and cautiously that the may be some time in coming". Your Committee suggests that it would be proper at this time for the Board to pass a formal resolution accepting Mr. Morrow's gift, and expressing its appreciation for his generosity. Speaking in my individual capacity, I feel satisfied that the attitude he has exhibited, and the work he has done, have helped the Institution even more than the contribution of money. Furthermore, if the Board of Regents desires it, I am willing to undertake [[initialed]] CGA [[/initialed]]
