86 JOURNAL OF PROCEEDINGS. 



By this bill tlie Secretary of the Treasury is to invest aDuually one- 

 fourth of the net amount of sales of the public lands for each year, in 

 United States bonds, bearing five per cent, interest, and is to give to each 

 State and to the District of Columbia an equal share of this interest, pro- 

 vided that the appropriation for any one share shall not exceed in a 

 single year the sum of $50,000. 



The opinion was expressed by the Eegents that the bill might pass, 

 although it was believed that the income to be derived from the sales of 

 the public lands would be inconsiderable for many years.* 



The Secretary stated that the plan of the Smithsonian Institution for 

 increasing knowledge had met with such favor, that other persons, in 

 imitation of James Smithson, had established foundations to advance 

 science, and gave an account of the bequest of the late Professor Alex- 

 ander Dallas Bache ; the foundation for lectures by Dr. J. M. Toner, 

 of Washington, and the gift of Professor Tyndall of the proceeds of his 

 recent lectures in this country. 



In each of these cases, Professor Henry had been made the chairman 

 of the boards of trustees appointed to carry out the wishes of the donors. 



On motion of General Garfield, it was 



JxesoJi-ed, That a full account of the Bache, Toner, and Tyndall sci- 

 entific foundations, or trusts, be published in the annual report of this 

 Institution, together with a letter from Professor Tyndall to Professor 

 Henry.t 



The Secretary stated that he had transmitted to Congress the annual 

 report of Professor J. W. Powell, relative to his geological and trigono- 

 metrical survey of the Colorado of the West and its tributaries. 



The Secretary presented his annual report for the year 1872, which 

 was read in part, when, on motion of Dr. Parker, it was 



Resolved, That the further reading of the report of Professor Henry be 

 dispensed with, and that it be submitted by the Secretary to Congress. 



On motion, the Board then adjourned sine die. 



* This bill did uot pass the House of Representatives. 



t See Appendix " B," " D," " E " to the rroceediufis of the Board. 



