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-81- The Secretary hoped that this study will be completed in advance of the May meeting and that he could lay before the Regents a prospectus not simply for a single title, but for a continuing program with defined parameters. Mr. Ripley then directed the Regents' attention to the following prospectus for the proposed book, [[underlined]] Every Four Years . . . The American Presidency. [[/underlined]] * * * * * As reported to the Regents at their meeting of September 17, 1979, the Smithsonian Exposition Books staff has been developing a book on the subject of the American presidency, a timely subject though to have special appeal in the 1980 election year. This book, titled [[underlined]] Every Four Years. . .The American Presidency, [[/underlined]] would be hardbound in a large format, 9" x 11", on the order of the previous books such as [[underlined]] The Smithsonian Experience [[/underlined]], [[underlined]] The Smithsonian Book of Invention [[/underlined]] and [[underlined]] The American Land [[/underlined]]. The origins of the topic of the Presidency as a Smithsonian book are described in the following memorandum, dated November 9, 1979. Also appended is an outline of the book, including chapter titles, authors, and brief descriptions of the purposes of each essay. It should be noted that this book has been thoroughly reviewed by the Secretary and the Smithsonian Book Publishing Council, as well as by individual senior staff members. The final mail-order test results have been very encouraging. Returns of mail orders at the rate of 2 percent would normally represent "break-even" and the latest returns indicate a favorable return of approximately 3.1 percent. Additionally, copies of the book will be marketed to the retail trade through W.W. Norton. The financial projections follow: