JOURNAL OF PROCEEDINGS. 71 



the words " making in all a principal fund of $715,000," at the 

 ■close of the fourth paragraph ; which was agreed to. 

 Amended, the petition reads as follows : 



To the Honorable, ihe Senate and House of Representatives, in Congress assembled : 



Gentlemen : The Board of Regents of tho Smithsonian Institution have directed 

 me to transmit to your honorable bod}', the resolutions appended to this letter, and to 

 solicit the passing of a law, in accordance therewith. 



It is known to your honorable body, that the original sum received into the United 

 States Treasury from the Smithsonian bequest, was a little more than $515,000, and 

 that at the time of the passage of the act incorporating the institution, $242,000 had 

 accrued in interest, which sum or so much of it as might be deemed necessary, the 

 Regents were authorized to appropriate to a building. It is also known to your hon- 

 orable body, that the act of incorporation directed that provision should be' made for 

 the establishment of a library and museum, together with the erection of a building 

 on a liberal scale to contain them. 



While the Regents in their plan of organization obeyed these instructions, they also 

 by virtue of the power invested in them, and in conformity with tho terms of tho 

 bequest, adopted additional plans for the more immediate promotion of the increase 

 and diffusion of knowledge among men, by means of researches, publications, lec- 

 tures, &c. 



In order, however, to carry out the several parts of this more extended plan, it 

 was found absolutely necessary that tho annual income of the institution should be 

 increased. To accomplish this, it was resolved, instead of expending at once the 

 $242,000 on a building, carefully to husband the same and to erect the building in the 

 course of several years, in part out of the proceeds of the sum before mentioned, and 

 in part out of such portions of the income of the original fund as could be spared 

 from the ordinary operations of the institution. This scheme has been effectually 

 carried out, and the Regents now ask to be allowed to place in the Treasury of the 

 United States along side of the original bequest, and upon the same terms, never to 

 be expended, the sum of $150,000 of accrued interest, and to be allowed to add to this 

 from time to time, such other sums as may come into their possession by donation or 

 otherwise, until it, with the sums thus added shall amount to $200,000, making in all 

 a principal fund of a little more than $715,000. 



After this deposit of $150,000, the Regents will still have sufficient money on hand 

 to finish the whole of the exterior of the building, and such portions of the interior 

 in addition to those now completed, as may be wanted for several years to come, they 

 then propose gradually to finish the remainder in such portions as may be wanted out 

 of the annual accruing interest. 



The sole object of the request is the permanent investment and perpetual security 

 of the accumulated fund, and when your honorable body is assured that the organi- 

 zation and operations of the institution have received tho approbation of the wise and 

 good, not only in this country, but in every part of tho world where literature and 

 science are cultivated, the undersigned trusts that the request will be granted. 



And your petitioner will ever pray, &c. 



(Signed) JOSEPH HENRY, 



Secretary of the Smitlisonian Institution. 



Resolutions of the Board of Regents of the Smithsonian Institution, adopted at their 

 meeting of June 1, 1850, and appended to the foregoing petition. 



Resolved, That it is expedient to enlarge the permanent fund of the institution, by 

 the investment of such sums not exceeding $200,000 as may have been, or shall be 

 received for accrued interest or otherwise, in addition to the principal sum of tho 

 Smithsonian bequest, augmenting the principal sum to that amount, and that applica- 

 tion be made to Congress to receive such sums not exceeding $200,000 as may have 

 been or shall be received for accrued interest or otherwise into the United States 

 Treasury upon the same terms on which tho original bequest has been received. 



Resolved, That the Secretary be requested to communicate a copy of this resolution 

 to Congress, and to request that provision be made by law in accordance therewith. 



The Secretary also brought before the Board, the subject of the 

 remainder of the Smithsonian bequest, left as the principal of an 



