SMITHSONIAN BEQUEST. 119 



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

 of the entire Smithsonian bequest and such other sums as may be accumulated from 

 savine;s of accrued interest, legacies, etc. 

 And your memorialists will ever pray, etc. 



S. P. Chase, 



Chancellor. 

 Joseph Henry, 

 Secretury Smithsonian Instilulion. 



Resolved, by the Board of Regents of the Smithsonian Institution, That an application 

 be made to Congress for an act authorizing the Treasurer of the United States to 

 receive into the Treasury, on the same terms as the original bequest, the residuary 

 legacy of James Smithson, now in United States bonds in the hands of said Treas- 

 urer, namely, $26,210.63, together with such other sums as the Regents may from 

 time to time see fit to deposit, not exceeding, with the original bequest, the sum of 

 $1,000,000, and that the income which has accrued or may accrue from said residuary 

 legacy be applied in the same manner as the interest on the original bequest. 



Mr. Patterson stated that in behalf of the committee he had pre- 

 sented the memorial to the House of Representatives, with a bill in 

 accordance therewith, which had passed unanimously that day and 

 been transmitted to the Senate. 



Mr. Trumbull stated that this bill had also unanimously passed the 

 Senate, and only awaited the signature of the President to become 

 a law. 



Frmn Proceedings of the Board of Regents^ February '22., 1867. 



The Secretary presented the following copy of the act of Congress 

 relative to the increase of the trust fund, referred to at the last meet- 

 ing of the board, and a statement of what had been done in accordance 

 with it: 



An act authorizing the Secretary of the Treasury to receive into the Treasury the residuary legacy 

 of James Smithson, to authorize the Regents of the Smithsonian Institution to apply the income of 

 the said legacy, and for other purposes. 



Be it enacted by the Senate and House of Representatives of tlie United States of America in 

 Congress assembled, That the Secretary of the Treasury be, and he is hereby, authorized 

 and directed to receive into the Treasury, on the same terms as the original bequest, 

 the residuary legacy of James Smithson, now in United States bonds in the hands of 

 said Secretary, namely, twenty-six thousand two hundred and ten dollars and sixty- 

 three cents, together with such other sums as the Regents may from time to time see 

 fit to deposit, not exceeding with the original bequest the sum of one million dollars. 



Sec. 2. And be it further enacted, That the increase which has accrued or which 

 may hereafter accrue, from said residuary legacy, shall be applied by the Board of 

 Regents of the Smithsonian Institution in the same manner as the interest on the 

 original bequest, in accordance with the provisions of the act of August tenth, eighteen 

 hundred and forty-six, establishing said Institution. 



Approved February 8, 1867. 



The Secretary stated that in accordance with the directions of the 

 Board of Regents, and the authority conferred by the above act, he 

 had increased the amount of the Smithsonian fund in the Treasury of 



