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contract for the building at an amount not exceeding $^210,000, 



with 10 per cent, added — say - . '. . |231,000 



For warming and lighting the same .... 5,000 



For fitting up and furnishing the same - - - 20,000 



For fencing the lot - . . - . . 10,000 



and some other appropriations. 



After which, the board passed the following resolution : 



" liesolved, That the Executive Committee certify to the Chancellor 

 and Secretary of the board the total amount of debts incurred, contracts 

 entered into, and contracts authorized by the board ; and that the Chan- 

 cellor and Secretary, after examination and approval of the same, certify 

 the same to the proper officer of the treasury fir payment." 



This, you will recollect, was done, and $250,000 of treasury notes ob- 

 tained. 



And they also passed, the same day, the following additional resolution: 



" Resolved, That the Executive Committee be anthorized to receive 

 said payment in treasury notes, payable to the order of the Chancellor of 

 the Smithsonian Institution in one year from date, bearing an interest of 

 six per cent, per annum ; and that they be further authorized to exchange 

 ^150,0(10 of said notes as soon as practicable for an equal amount of six 

 per cent, stock of the United States, payable in twenty years, which 

 stock shall be payable to the Chancellor of the institution; which said 

 notes and stock shall be deposited for safekeeping only with the Treasurer 

 of the United States, or such other person as they may deem proper, to 

 be drawn out only upon checks or warrants signed by the Chancellor, the 

 Secretary, and the chairman of the Executive Committee." 



Now the amount of ^7,-500, which we now want, and for which you 

 have already signed a requisition, (not the proper form; it should have been 

 *^a check or warrant signed by the Chancellor, the Secretary, and the chair- 

 man of the Executive Committee,") we desire to draw in the shape of in- 

 terest, namely: the half-yearly interest due in August last on the above 

 treasury notes, which treasury notes are the result of a requisition already 

 duly made in accordance with the first of the above resolutions for 

 $250,000, and now, as it were, in the hands of a disbursing agent. 



It is clearly expedient and proper to draw the interest first, and not to 

 touch the notes themselves till we are compelled to do so; and to obtain 

 this interest a power of attorney from you, it seems, is necessary. 



The Chancellor, Secretary, and chairman of the Executive Committee, 

 have the full authority to draw not only the interest, but, in proportion as 

 they may be required, the treasury notes themselves also, without any 

 ulterior appropriation, or other action whatever, of the board. 



To make our payments to the contractors, we shall have to draw a por- 

 tion of the notes themselves, and sell them before New Year's day, the 

 date when our semi-annual interest on the principal sum of $515,169 be- 

 comes due. 



You may remember that the understanding was, that of the entire sum 

 at which the building might be contracted, not more than one fifth was 

 to be spent by the building committee in each of the five years during 

 which the building will be in progress of construction. Now you will 

 see by the items of expenditure since the 1st of March last, which Mr. 

 Seaton informs me he has sent you, that we have in the present year, so 

 lar, paid to the contractor but $14,088. I learn that the probable amount 



