SMITHSONIAN BEQUEST. 109 



panying it. The balance which may be found due to Mr. Rush he 

 wishes to have remitted to him. The compensation and allowance for 

 expenses are to be up to the period charged in the account (the 20tii 

 instant). 



It is presumed that the amount repaid to Mr. Rush by the solicitors 

 in London, mentioned in his letter (£116 2s. 2d.), which was paid into 

 the Treasury, together with the avails of the Smithsonian legacy, will 

 be brought to the credit of the appropriation from which it was origi- 

 nally taken, and thus form a fund from which the balance due to 

 Mr. Rush can be paid. The papers explanatory of this circumstance 

 have been transmitted, together with the account of the legacy, to the 

 Treasury Department. 



I am, sir, j^our obedient servant, 



Edward Stubbs, Agent. 



Stephen Pleasanton, Esq., Fifth Auditoi'. 



Levi Woodbury to the President. 



Treasury Department, 



December 3, 1838. 



Sir: I have the honor to report to you that, under the act of Congress 

 approved July 1, 1836, in relation to the legacy bequeathed to the 

 United States by James Smithson, the sum of $508,318.16 has been 

 received and paid into the Treasury of the United States. 



In compliance with the provisions of the sixth section of the act of 

 Congress for the support of the Military Academy of the United States 

 and for other purposes, approved July 7, 1838, the sum of $199,500 

 has been expended in the purchase of 500 bonds of the State of Arkan- 

 sas for $1,000 each, bearing 6 per cent interest, payable semiannually 

 on the first days of January and July in each year from the 4th day 

 of September last (the period of their purchase). The further sum of 

 $8,270.67 has been applied to the purchase of 8 bonds of the State of 

 Michigan, bearing 6 per cent interest, payable semiannually hereafter 

 on the first Mondays in January and July from the 1st of May last. 

 The interest on all these bonds is payable at the city of New York. 



There is still left in the Treasury the sum of $547. 79 which has not 

 yet been invested, but will be as soon as a favorable opportunity offers. 



The amount received in London by the agent of the United States 

 under the decree of the court of chancery of England was the gross 

 sum of £106,490 lis. 9d., including the sum of £116 2s. 2d. for costs 

 refunded. This was reduced by the payment of commissions, insur- 

 ances, etc., to the sum of £104,960 8s. 9d., which was brought into the 

 United States in gold and produced at the Mint the sum of $508,318.46 

 before mentioned. 



