282 CONGRESSIONAL PROCEEDINGS. 



reply, should the offer be accepted, addressed to No. 15 Wall street, N. Y., 

 will be promptly attended to. 



Should references be required, I am personally known to the President. 

 Your obedient servant, Simeon B. Jewitt. 



Hon. Levi Woodbitrt, Secretary of the Treasury. 



D 18. 



Louisville, August 13, 1838. 



Sir : 1 have this moment seen, over your official signature, a notice to 

 the puhlic, stating that you are ready to receivo propositions relative to the 

 investment, in State stocks, of the fund (say half a million) bequeathed by 

 James Smithson, Esq., for the purpose of founding an institute in the city 

 of Washington ; which fund you are authorized to dispose of in this way, 

 by act of July 7, 1838. 



Application is hereby made, in behalf of the Mississippi Union Bank, for 

 a loan or purchase of the whole amount of this fund when in your hands 

 for disposal. The bank offers, as security or equivalent, the bonds of the 

 State of Mississippi, bearing interest at the rate of 5 per cent, per annum ; 

 interest and principal made payable at such places as may suit the conve- 

 nience of the purchaser ; which bonds she holds to the amount of $15,000,- 

 000, with ample power to negotiate and sell the same, as prescribed in the 

 first section of the original act incorporating said institution, by the direc- 

 tors of the bank themselves, or, as expressed in the 9th section of the sup- 

 plemental act thereto appended, by the agency of commissioners appointed 

 for that purpose. 



For the nature of the security, the general terms of the negotiation, the 

 form and condition of the bonds, &c.,'&c., you are respectfully referred to 

 the 4th, 5th, 6th, 7th, 8th, and 9th sections of the original act above re- 

 ferred to, a copy of which, with the supplement, is herewith transmitted 

 for your inspection. 



This letter is not official from the bank, as the board of directors have 

 not been in session since the publication of your notice, and consequently 

 could have no action upon the subject. It will be recognized, however, as 

 such, by the board, at their tirst regular meeting, (the 10th of September 

 next,) when a copy of it will be laid before them. 



For any information which may be required, should there bo a prospect 

 of effecting this negotiation, please address president and directors, or Hon. 

 H. Q-. Runnels, president of the Mississippi Union Bank, at Jackson, Mis- 

 sissippi ; and, if necessary, an agent will bo immediately appointed by the 

 bank, who will see you, in person, on the subject of the negotiation, at 

 Washington. The acknowledgment of the receipt of this communication, 

 directed as above, so as to meet the board of directors of the bank by the 

 10th of September next, will confer a favor on them, and oblige, 

 Very respectfully and truly, your obedient servant, 



John J. McRae, 

 Member of Board of Directors of Mississippi Union Bank. 



To Hon. Levi Woodbury, Secretary of the Treasury. 



D 19. 

 Eastern Bank, Bangok, Maine, August 13, 1838. 



Dear Sir : I have noticed a paragraph in the public papers of the day, 

 upon the subject of the Smithsonian bequest, where, after alluding to the 

 act of Congi-ess directing the Secretary of the Treasury to invest the same 

 '' in stocks of States, bearing interest at the rate of not less than 5 per 

 cent, per annum," it is stated that you arc now prepared to receive proposals 

 from persons whio have stocks of this description to dispose of. 



I am directed to say to you that this bank has a Maine State scrip, issued 

 agreeably to law. dated March 23, 1838, for the sum of $4,500, payable in 



