TWENTY-SIXTH CONGRESS, 1839-1841. 



211 



letters to such persons in the principal cities as were supposed to have stocks for sale, 

 notifying them of the fact and allowing time to receive their offers, after which a 

 contract was made for such as were offered on terms found to be most advantageous 

 for the trust, having regard, in determining that fact, to the interest the stock yielded 

 and the length of time before its maturity. The price given, the par value, the rate 

 of interest, and the authority for each purchase will appear in the tables annexed. 



In respect to the security for the payment of the interest and principal of the 

 stocks, none other was asked beyond the guaranty of the respective States in the acta 

 authorizing the issue of the stocks. 



I am, respectfully, your obedient servant, 



Levi Woodbury, 

 Secretary of the Treasury. 

 Hon. R. M. T. Hunter, 



Speaker of the House of Representatives. 



Statement of the moneys invested in State stocks nekl in trust by the Treasury Department, 

 shovnng the time of the respective investments, amount invested in the stocks of eacli State, 

 rate of interest on bonds in each contract, rate at xvhich stock ivas purchased, and authority 

 by which each investment was made, etc. 



Time of the respective 

 investments. 



Amount invested in the stocks of each State. 



Rate of 

 interest 



on bonds 

 in each 



contract. 



Rate 

 per cent at 



which 

 bonds were 

 purchased. 



1.S38, September 

 November 

 December 



1839, July 



1840, February . 



5500,000.00 Arkansas bonds 



8, 000. 00 Michigan bonds 



10, 000. 00 Arkansas bonds 



13, 000. 00 Arkansas bonds 



2G, 000. 00 Illinois bonds. . . 



99^iT 

 100 

 100 



98J 



73 



Authority by which the investments xvere made. — Act of July 7, 1838, authorizing the investment of the 

 Smithsonian bequest. 

 Security received for the payment of interest and principal of each dc6<.— Guaranty of the State. 

 Market price at the time of purchase. — No means of ascertaining accurately. 

 Market price at the present time. — No means of ascertaining accurately. 



Treasury Department, March 16, 1840. 



March 23, f 840— House. 



Mr. James Monroe, of New York, moved resolution, which was 

 read and laid on the table one day: 



Resolved, That 5,000 additional copies of the report on the Smithsonian bequest 

 he published for the use of the inembers of this House. 



Mr. George W, Toland moved that 4,000 extra copies of the report 

 of the select committee on the Smithsonian bequest be printed for the 

 use of the members. 

 February 10, 1841— Senate. 



Mr. Linn presented bill (S. 245) to appoint trustees for the invest- 

 ment of the Smithsonian fund: 



Be it enacted, etc., That the Secretaries of the State, the Treasury, the War, and the 

 Navy Departments, the Attorney-General, and the Postmaster-General, be, and they 



