754 AN ACT TO ESTABLISH 



money, and paid into the Treasury of the United States, be- 

 ing the sum of five hundred and fifteen thousand one hun- 

 dred and sixty-nine dollars, be lent to the United States 

 Treasury-, at six per cent, per annum interest from the first 

 day of September, in the year one thousand eight hundred 

 and thirty-eight, when the same was received into the said 

 Treasury ; and that so much of the interest as may have 

 accrued on said sum on the first day of July next, which 

 will amount to the sum of two hundred and forty-two thou- 

 sand one hundred and twenty-nine dollars, or so much 

 thereof as shall by the Board of Regents of the Institution 

 established by this act be deemed necessary, be, and the 

 same is hereby, appropriated for the erection of suitable 

 buildings, and for other current incidental expenses of said 

 Institution ; and that six per cent, interest on the said trust 

 fund — it being the said amount of five hundred and fifteen 

 thousand one hundred and sixty-nine dollars received into the 

 United States Treasury on the first of September, one thou- 

 sand eight hundred and thirty-eight, payable, in half-yearly 

 payments, on the first of January and July in each year be, 

 and the same is hereby, appropriated for the perpetual 

 maintenance and support of said Institution; and all ex- 

 penditures and appropriations to be made from time to time, 

 to the purposes of the Institution aforesaid, shall be exclu- 

 sively from the accruing interest, and not from the princi- 

 pal of the said fund. And be it further enacted, That all the 

 moneys and stocks which have been, or may hereafter be, 

 received into the Treasury of the United States on account 

 of the fund bequeathed by James Smithson, be, and the 

 same hereby are, pledged to refund to the Treasury df the 

 United States the sums hereby appropriated. 



Sec. 3. And be it further enacted, That the business of the 

 said Institution shall be conducted at the city of "Washing- 

 ton by a Board of Regents by the name of the Regents of 

 the " Smithsonian Institution," to be composed of the 

 Vice President of the United States, the Chief Justice 



