TWENTY -FIFTH CONGRESS. 1837-1839. 145 



Treasury, and invested by the Secretary of the Treasury, with the approbation of 

 the President of the United States, in stock of the United States, to be created for 

 that purpose, bearing interest at the rate of six per centum per annum, payable 

 annually; that the certificates for said stock shall be issued by the Secretary of the 

 Treasury to the President, who shall hold the same in trust for the uses specified in 

 the last will and testament of said Smithson, until provision is made by law for 

 carrying the purpose of said bequest into effect; and that the annual interest 

 accruing on the stock aforesaid shall be in like manner invested for the benefit of 

 said Institution. 

 July 7, 1838. 



The following section providing for the investment of the Smith- 

 sonian fund became a law: 



An act to provide for the support of the Military Academy of the United [States for the year 1838, 

 and tor other purposes. 



SEC. 6. And be it further enacted, That all the money arising from the bequest of 

 the late James Smithson, of London, for the purpose of founding at Washington, in 

 this District, an institution to be denominated the Smithsonian Institution, which 

 may be paid into the Treasury, is hereby appropriated, and shall be invested by 

 the Secretary of the Treasury, with the approbation of the President of United 

 States, in stocks of States, bearing interest at the rate of not less than five per centum 

 per annum, which said stocks shall be held by the said Secretary in trust for the 

 uses specified in the last will and testament of said Smithson, until provision is 

 made by law for carrying the purpose of said bequest into effect; and that the 

 annual interest accruing on the stock aforesaid shall be in like manner invested for 

 the benefit of said Institution. 



(Stat, V, 267.) 



July 9, 1838 House. 



Mr. W. B. CALHOUN, of Massachusetts, submitted resolution: 



Resolved, That the President of the United States be requested to cause to be laid 

 before the House during the first week of the next session of Congress all such 

 communications, papers, documents, etc., now La the possession of the Executive, 

 or which can be obtained, as shall elucidate the origin and object of the Smithsonian 

 bequest, and the origin, progress, and consummation of the process by which that 

 bequest has been recovered, and whatever may be connected with the subject. 



Agreed to. 

 December 10, 1838 Senate. 



Message from the President of the United States. 



WASHINGTON, December 6, 1838. 

 To the Senate and House of Representatives of the United States: 



The act of the 1st July, 1836, to enable the Executive to assert and 

 prosecute with effect the claim of the United States to the legacy 

 bequeathed to them by James Smithson, late of London, having 

 received its entire execution, and the amount recovered and paid into 

 the Treasury having, agreeably to an act of the last session, been 

 invested in State stocks, I deem it proper to invite the attention of 

 Congress to the obligation now devolving upon the United States to 

 fulfill the object of the bequest. In order to obtain such information 

 H. Doc. 732 10 



