TWENTY-EIGHTH CONGRESS, 1843-1845. 275 



Of the said fund there shall he applied to furnish an assortment of the best and 

 most perfect instruments for astronomical observation, to be procured under the direc- 

 tion of the astronomical observator, to be appointed conformably to the provisions 

 of this act, $20,000. 



And there shall be reserved $10,000, from the interest of which other instruments 

 may be from time to time procured, as occasions for the use of them may arise, and 

 for the repairs of instruments as needed. 



And there shall be reserved $10,000, applied to the purchase of a library of books 

 of science and literature for the use of the observatory, to be selected by the 

 observator; and the further sum of $20,000 reserved, from the interest of which to 

 pay for a supply of new works, transactions of learned societies, and periodical pub- 

 lications upon science in other parts of the world or in America. 



Of the said fund shall be reserved $30,000, from the interest of which shall be 

 paid the compensation of the secretary and treasurer, and the contingent expenses 

 of the corporation hereby constituted, including the expense of the yearly publica- 

 tion of the observations made at the observatory, and of a nautical almanac, to be 

 called the Smithsonian Almanac. 



SEC. 4. And be it further enacted, That all the moneys and stocks which have been, 

 or may hereafter be, received into the Treasury of the United States on account of 

 the fund bequeathed by James Smithson be, and the same are hereby, pledged to 

 refund to the Treasury of the United States the sums hereby appropriated. And 

 the Secretary of the Treasury shall cause to be opened an account in which the 

 Smithsonian fund shall be charged with the sum of $800,000, hereby appropriated 

 and invested in stocks of the United States, and shall be credited by the six hundred 

 and forty bonds of the States of Arkansas, Michigan, Illinois, and Ohio, and by all 

 the sums received, or hereafter to be received, for interest on the said bonds until 

 the final payment of the principal thereof by the said States. And the Secretary of 

 the Treasury is hereby authorized to sell and transfer, at their nominal par value, 

 principal and interest, ana not under, any of the said bonds, with the interest due 

 and unpaid on the same, and to credit the said fund with the proceeds thereof, till 

 the whole sum hereby appropriated, and all the interest hereafter paid thereon, 

 shall be refunded to the Treasury of the United States. 



SEC. 5. And be it further enacted, That no part of the said Smithsonian fund, prin- 

 cipal or interest, shall be applied to any school, college, university, other institute of 

 education, or ecclesiastical establishment. 



SEC. 6. And be it further enacted, That the observatory provided by the third sec- 

 ti< >n ( >f this act shall be erected under the direction of the board of trustees on a site 

 in the city of Washington, to be selected by them; and should the same be on land 

 belonging to the United States, so much thereof as, in the opinion of the trustees, 

 shall be necessary for the purpose shall be conveyed to them in consideration of the 

 sum of $10,000, taken from that fund by the general appropriation act of third 

 March, eighteen hundred and thirty-nine: Provided, That if no such suitable site 

 can be found on the public lands, that then a selection of a site on private prop- 

 erty may be made at a price not exceeding one-half cent per square foot, to be paid 

 out of the appropriation in the third section of this act. 



SEC. 7. And be it further enacted, That all expenditures made by the said board of 

 trustees shall be subject to the approval of the President of the United States; and 

 all the accounts thereof shall be reported to the Secretary of the Treasury, and 

 audited under his direction by the proper officers of the Treasury Department; and 

 the said board shall report to Congress, at every session thereof, the state of the 

 Smithsonian fund, and a full statement of their receipts and expenditures during 

 the preceding year. 



SEC. S. Anfl !' :t further enacted, That the first meeting of the trustees of the Smith- 

 sonian fund shall l>e held at the city of Washington on the third Tuesday of 



next; and that in the meantime the custody of the said fund and the expenditures 



