TWENTY-EIGHTH CONGRESS, 1843-45. 295 



payments of interest on said Arkansas bonds have ceased ; 

 and that the amount due is accumulating at the rate of 

 more than $32,000 a year — amounting at this day, to more 

 than $90,000. 



On the 23d of November, 1838, $8,000 were invested in bonds of 

 the State of Michigan, payable on the first Monday of July, 

 1858, bearing interest at G per cent., payable half-yearly at 



the Manhattan Bank, in the city ot New York $8,000 



On these bonds, there was due on the 31st of December, 1843, 



one year's interest 480 



There were invested in bonds of the State of Illinois — 

 1840, Feb. 8.— 13 bonds of $1,000 each, payable after the year 



1860 13,000 



3 bonds of $1,000 each, payable after the 1st 



January, 1873 3,000 



10 bonds of $1,000 each, reimbursable at the 

 pleasure of the State after the year I860 10,000 



1840, Dec. 3.-6 bonds of the State of Illinois of $1,000 each, 



payable after the 1st of January, 1870 $6,000 



1841, Feb. 1. — 24 bonds, payable after the 1st of Janu- 



ary, 1870 24,000 



$30,000 



On these bonds of the State of Illinois, there was due on the 31st 



of December, 1843, one year's interest 3,360 



There were invested in the 6 per cent, canal stocks of the 

 State of Ohio — 

 1841, Aug. 7.— 13 bonds of $1,000 each, payable after the 31st 



December, 1860 13,000 



1841, Aug. 10.— 5 bonds of $1,000 each, payable after the 31st 



December, 1860 5,000 



Upon these bonds, on the 31st December, 1843, no inter- 

 est was due. 



The first section of an act of Congress of 11th Septem- 

 ber, 1841, repealed so much of the sixth section of the act 

 •of 7th July, 1838, as required the Secretaiy of the Treasury 

 to invest the annual interest accruing on the investment of 

 the money arising from the bequest of James Smithson in 

 the stocks of the States. And the Secretary of the Treas- 

 ury was thenceforth required, until Congress shall appro- 

 priate said accruing interest to the purposes prescribed by 

 the testator, for the increase and diffusion of knowledge 

 among men, to invest said accruing interest in any stock of 

 the United States bearing not less than five per centum per 

 annum. 



Since that time, the investments in the stocks of the 

 United States have been as follows : 



1841, September 27, 5^ per cent, stocks $1,291 86 



1842, August 27, 6 " " 1,135 80 



1842, December 29, 6 " " 8,322 79 



1843, March 31,6 " " 653 05 



1844, January 12,5 " " 4,23135 



Total _.' $15,634 85 



