106 SMITHSONIAN BEQUEST. 



informed in these matters and trustworthy. To the consul of the 

 United States in London I applied as to such a person, and received 

 from him, as my No. 27 informed j^ou, this aid and cooperation in the 

 fullest and most efficient manner, daily, throughout the months of 

 June and July, until all the sales were effected; and effected, I may be 

 allowed to add, with favorable results not to have been surpassed, as 

 I have already reported to you, and as the public records of the London 

 stock market on each of the days that I sold will attest. Into his hands 

 I also put the other mercantile business necessary to the shipment of 

 the gold. These included the obtaining, verifying, arranging, packing, 

 and securing it for shipment, contracting for freight, entering and 

 clearing at the custom-house, effecting insurance (which was done at 

 five principal oflices and with thirty-two private underwriters), and, 

 finally, shipping the gold. For these services, of whatever kind (and 

 I had many incidental ones from him not here enumerated), I allowed 

 and paid him a commission of three-fourths of one per cent, which 

 amounted to £797 15s. 6d. 



I speak from good information when expressing a belief that an 

 equal amount of assistance and services to me, under all the heads 

 rendered, could not have been commanded through the usual agency 

 of banking and commercial houses on so heavy and responsible a 

 moneyed operation at a less charge to the fund than a commission of 

 from two to two and a half per cent on the whole amount of it; and 

 that this falls below rather than goes beyond what it might be expected 

 to have been. 



I inclose the consul's account, signed T. Aspinwall, together with 

 his voucher for a charge of £6 19s. Id. for expenses paid by him on 

 shipping the fourteen Smithsonian boxes. 



The premium for insurance was one-half of one per cent, and 

 amounted, with the expense of stamps and policies, to <£599 3s. Id. 

 The statement of this, as paid for me by the consul, will be seen in the 

 inclosure (marked Invoice), on which are also certain items, as dock 

 charges, charges for bills of lading, and some other things, amounting 

 in all to £Q 6d., accompanied by vouchers. I also inclose the policies 

 of insurance.^ The insurance covered all commissions and charges 

 paid in London, so as to have made the United States entirely whole 

 in case of loss. This I directed, thinking it most prudent. 



The expenses on selling the stock, viz, brokerage, charges on the 

 transfers, and charges for stamps, were £120 Is. 6d. These will be 

 seen in my account, marked among the inclosures R. R. 



The several expenses above enumerated, viz : 



(1) The consul's commission of £797 15s. 6d., and charges £6 19s. Id. ; 



' It has been deemed unnecessary, at the Department of State, to communicate 

 copies of the several policies of insurance above referred to. 



