20 REPORT OF THE SECRETARY. 



fore, been a matter of solicitude to obtain for them a permanent 

 investment. 



In view of this, a petition was presented to Congress by the board 

 of regents, asking permission to make additions to the principal of the 

 Smithson fund. This petition was granted by the act of February 8, 

 1867, allowing the regents to increase the principal in the treasury 

 of the United States, by savings, donations, and otherwise, to any 

 sum not exceeding a million dollars, the additions to be subject to 

 the same conditions as the original bequest. In accordance with this 

 law the regents authorized the sale of all the stocks owned by the 

 Institution, excepting those of Virginia, and the application of the 

 proceeds to the increase of the principal to $650,000, Avhich amount 

 is now the permanent fund of the Institution. In addition to this the 

 Institution has $72,500 in Virginia State bonds, the marketable value 

 of which is about $30,000. 



The fund first paid into the treasury from the Smithson bequest 

 was $515,169; the remainder of the legacy, which had been left in 

 England as the principal of an annuity to the mother of the nephew of 

 Smithson, was $26,210 63, making in all, from the bequest of Smith- 

 son, $541,379 63. The capital has, therefore, been increased 

 more than a hundred thousand dollars, notwithstanding the expendi- 

 ture of $450,000 on the building. 



It will be seen by the reports of the building committee and archi- 

 tect, that the main building of the Institution, which consists of a 

 large central edifice, 200 feet long, 50 feet wide, with two projecting 

 towers and a middle space in front, and a single large tower in the 

 rear, to which portions the damage by fire was principally confined, will 

 be entirely restored in the course of a few months, with the excep- 

 tion of the large hall in the second story. These parts of the building, 

 in which it is proposed to deposit the more valuable collections, are 

 entirely of fire-proof materials. The cost of this reconstruction will 

 amount to $125,000, exclusive of that of the fitting up of the large 

 room just mentioned. The accommodations which will be afforded are 

 ampl}' sufficient for the active operations of the Institution for all 

 coming time, and also for the museum, provided but few additions be 

 made to tlie number of specimens exhibited; but if the increase be 

 continued — and it is almost impossible to prevent, even if desired, 

 the growth of an establishment of this kind — the completion of the 

 main hall and the fitting it up with cases will become necessary, at 

 an expense of at least $50,000. The other parts of the building, 

 namely, the two wings and connecting ranges, with six towers, will 



