TWENTY-SIXTH CONGRESS, 1839-41. 245 



principle, that in all cases of trust funds an account should 

 be opened with the Government of the United States, and 

 that the fund should be held in the Treasury and it pay an 

 annual interest on it, until its object was accomplished. 

 He regarded this Smithsonian fund as a sacred trust which 

 the Government would be bound to restore if it should 

 ever be lost ; and that being the case — the Government 

 being responsible for them, it would be better that they 

 should remain in the Treasury, under our charge, 



Mr. Tappan was understood to concur in this opinion ; 

 and after some further remarks by Messrs. Woodbury, 

 Calhoun, and Sevier, the amendment was engrossed, the 

 bill read a third time, and passed. 



On motion of Mr. Evans, its title was amended so as to 

 be in effect, " an act to repeal a part of the sixth section of 

 the act for the support of the Military Academy of the 

 United States for 1838, and for other purposes." 



PROCEEDINGS IN THE HOUSE OP REPRESENTATIVES. 



House of Representatives, Septeynber 2, 1841. 



Mr. Fillmore, from the Committee of Ways and Means, 

 to whom resolutions of instruction had heretofore been 

 referred, reported a bill to repeal the sixth section of the 

 act entitled an act to provide for the support of the Military 

 Academy of the United States for the year 1838, and for 

 other purposes, passed July, 1838, and to prohibit any in- 

 vestment of the funds of the United States in stocks of the 

 several States ; which was read twice. 



The section proposed to be repealed is as follows ; 



" Ssc. 6. And be it further enacted, That all the money arising from the 

 bequest of the late James Smithson, of London, for the purpose of found- 

 ing at Washington, in this District, an institution to be denominated the 

 Smithsonian Institution, which may be paid into the Treasury, is hereby 

 appropriated, and shall be invested by the Secretary of the Treasury, with 

 the approbation of the President of the United States, in stocks of States, 

 bearing interest at tbe rate of not less than five per centum per annum, 

 which said stocks shall be held by the said Secretarj' in trust for the uses 

 specified in the last will and testament of said Smithson, until provision is 

 made by law for carr3'ing the purpose of said bequest into effect; and that 

 the annual inte^e^t accruing on the stock aforesaid shall be in like manner 

 invested for the benefit of said institution." 



Mr. Fillmore asked, that as the bill contained no appro- 

 priation, and need not therefore be committed, it bo put on 

 its third reading now. 



The bill was read a third time and passed. 



