EXTRACTS 



FROM THE JOURNAL OF THE BOARD OP REGENTS, RELATIVE TO 

 THE APPOINTMENT OP AN EXECUTIVE COMMITTEE. 



On the 8th of September, 1846, the Board proceeded to the elec- 

 tion of an Executive Committee by ballot ; and, upon counting the 

 ballots, it appeared that Mr. Owen, Mr. Seaton, and Mr. Totten 

 were elected. 



It was then — 



Resolved, That William W. Seaton be, and he is hereby, appointed chairman of said 

 Executive Committee. 



On the 5th of February, 1847, on motion of Mr. Hilliard — 



Ordered, That Mr. A. D. Bache be appointed temporarily on the Executive Com- 

 mittee, in the place of Mr. J. G. Totten, who is now in Mexico. 



JOURNAL. 



FIRST MEETING. 



September 12, 1846. 



Present, Messrs. Seaton, (Chairman,) Totten and Owen. 



Mr. Owen submitted to the committee a copy of a letter which 

 lie had prepared with the intention, if approved by the committee, 

 of having it addressed, by the chairman, to the respective mem- 

 bers of the Board, as follows : 



Washington, September 12, 1846. 



Sir: The Executive Committee of the Smithsonian Institution have, since the ad- 

 journment of the Board of Regents, had under their consideration a subject of so 

 much importance, and so deserving of immediate action, that they have unanimously 

 instructed me to address you and the other Regents on the subject, and to ask that 

 you will, at your earliest convenience, afford them the benefit of your opinion on the 

 matter. 



The amount of accumulated interest declared by the bill to be due 1st July, 1846, 

 is $242,129. The whole of this we have now a right to draw out of the Treasury. 

 If we did so, we could purchase with it United States stocks, at or near par, thus ob- 

 taining six per cent, thereon until we require the money. Actually to draw it out 

 might embarrass the Treasury at the present juncture ; but, as our rights in the case 

 are undoubted, and as we shall not require for current expenses, until 1st of January 

 next, more than the odd $2,129, the Executive Committee are unanimously of opin- 

 ion that a request should be forthwith made, in behalf of the Institution, to the 

 Secretary of the Treasury, that he will issue United States stocks in the name of the 

 Smithsonian Institution, to the amount of $240,000. 



The Executive Committee believe, from the liberality of feeling which the Presi- 

 dent and the Secretary have evinced towards the Institution, that its claim will at 

 once be recognized, and the stocks issued at our request. 

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