THIRTIETH CONGEESS, 18-17-1849. 449 



pVIr. Johnson's] conceptions about dignity and position in this coun- 

 try were perhaps different from those of the gentleman from Ala- 

 bama. According to his notions of government this body occupied 

 the highest and most elevated position. In this democratic govern- 

 ment it was held that the people are sovereign — the source of all 

 power; this body stands next to the people, next to the sovereignty, 

 and instead of detracting from their dignity he thought it was assign- 

 ing them their true position. He knew there were some who were 

 really fascinated by that word '"Regent," and the fondness of such 

 things was increasing in our country. 



He thought the gentleman from Alabama had demonstrated clearly 

 to this House, in his opposition to the creation of this conmiittee, the 

 necessity of its creation. If all was done well, everything regularly 

 transacted, if the money was judiciously expended, in the name of 

 common reason would it injure or affect their proceedings to be super- 

 vised by a committee appointed by this body? Why, the very dispo- 

 sition to shrink from the supervision of a committee appointed b}" the 

 popular branch of the Government ought to carr}^ conviction to the 

 mind of this House of the necessity of its creation. 



He was no prophet, but when the bill was before the House for the 

 establishment of the Smithsonian Institution he had predicted what 

 had already become a matter of fact — that this Institution would be an 

 incubus upon the Treasury, that it would be a perpetual source of 

 expenditure. The clause in Mr. Smithson's will "for the increase and 

 diffusion of knowledge among men " read well, it was true. And the 

 gentleman from Alabama undertook also to prove how great financiers 

 the Board of Regents were, and said after all the improvements are 

 done they would have over $100,000 left. And how was this done? 

 Why, the}^ had taken $242,000, supposed to be the interest which had 

 accumulated on this fund, and put that upon interest, having ))ought 

 Treasury notes, he supposed, on which they were drawing interest; 

 and by this means they had saved an immense sum. Did not every 

 member know who had paid attention to the discussion of this subject 

 when the bill passed placing $500,000 at the discretion of the Board of 

 Regents that not a dollar of it was there? They first placed a certain 

 amount in the Treasury that did not exist there, and then calculated 

 interest on this fictitious amount and then interest on the interest; 

 which is the way in which they j\re to carry on their extensive works. 



Mr. HiLLiARD. Is the gentleman charging that upon the board or 

 this House? 



Mr. Johnson. Charging what? 



Mr. HiLLiARD. Why, that a fictitious amount was placed in the 

 Treasury. 



Mr. Johnson. I was going on to prove the position that this Institu- 

 tion would be an incubus upon the Treasury. 

 H. Doc. 732 29 



