69 [ 1 ] 



" making in all a principal fund of ^715,000," at the close of the fourth 

 paragraph which was agreed to. 



Amended, the petition reads as follows : 



To the Honorable, the Senate and House of Representatives, in Congress 



assembled : 



Gentlemen : The Board of Regents of the Smithsonian Institution have 

 directed me to transmit to your honorable body, the resolutions appended 

 to this letter, and to solicit the passing of a law, in accordance therewith. 



It is known to your honorable body, that the original sum received into 

 the United States Treasury from the Smithsonian bequest, was a little more 

 than ^515,000, and that at the time of the passage of the act incorporating 

 the Institution, ii?24'2,000 had accrued in interest, which sum or so raucli 

 of it as might be deemed necessary, the Regents were authorized to appro- 

 priate to a building. It is also knowni to your honorable body, that the act 

 of incorporation directed that provision should be made for the establish- 

 ment of a Library and Museum, together w^ith the erection of a building on 

 a liberal scale to contain them. 



While the Regents in their plan of organization obeyed these instructions, 

 they also by virtue of the power invested in them, and in conformity with 

 the terms of the bequest, adopted additional plans for the more immediate 

 promotion of the increase and diffusion of knowledge among men, by means 

 of Researches, Publications, Lectures, &c. 



In order however, to carry out the several parts of this more extended plan, 

 it was found absolutely necessary that the annual income of the Institution 

 should be increased. To accomplish this, it w^as resolved, instead of ex- 

 pending at once the J9>242,000 on a building, carefully to husband the same 

 and to erect the building in the course of several years, in part out of the 

 proceeds of the sum before mentioned, and in part out of such portions of 

 the income of the original fund as could be spared from the ordinary opera- 

 tions of the Institution. This scheme has been effectually carried out, and 

 the Regents now ask to be allowed to place in the Treasury of the United 

 States along side of the original bequest, and upon the same terms, never to 

 be expended, the sum of ^150,000 of accrued interest, and to be allowed to 

 add to this from time to time, such other sums as may come into their 

 possession by donation or otherwise, until it, w4th the sums thus added shall 

 amount to $200,000, making in all a principal fund of a little more than 

 $715,000. 



After this deposit of $150,000, the Regents will still have sufficient money 

 on hand to finish the whole exterior of the building, and such portions of 

 the interior in addition to those now completed, as may be wanted for 

 several years to come, they then propose gradually to finish the remainder 

 in such portions as may be wanted out of the anrmal accruing interest. 



The sole object of the request is the permanent investment and [)eipetual 

 security of the accumulated fund, and when your honorable body is assured 

 that the organization and operation of the Institution have received the ap- 

 probation of the wise and good, not only in this country, but in every part 

 of the world w'here literature and science are cultivated, the undersigned 

 trusts that the request will be granted. 



And your petitioner will ever pray, &c. 



Signed JOSEPH HENRY, Secretary 



Of the Synithsnnian Institidion. 



