THIRTY-FIRST CONGRESS, 1849-51. 507 



body, the resolutions appended to this letter, and to solicit 

 the passing or a law, in accordance therewith. 



It is known to your honorable body, that the original sum 

 received into the United States Treasury from the Smith- 

 sonian bequest, was a little more than $515,000, and that at 

 the time of the passage of the act incorporating the insti- 

 tution, $242,000 had accrued in interest, which sum or so 

 much of it as might be deemed necessary, the Regents were 

 authorized to appropriate to a building, It is also known 

 to your honorable body, that the act of incorporation di- 

 rected that provision should be made for the establishment 

 of a library and museum, together with the erection of a 

 building on a liberal scale to contain them. 



While the Regents in their plan of organization obeyed 

 these instructions, they also by virtue of the power invested 

 in them, and in conformity with the terms of the bequest, 

 adopted additional plans for the more immediate promotion 

 of the increase and diffusion of knowledge among men, by 

 means of researches, publications, lectures, &c. 



In order, however, to carry out the several parts of this 

 more extended plan, it was found absolutely necessary that 

 the annual income of the institution should be increased. 

 To accomplish this, it was resolved, instead of expending 

 at once the $242,000 on a building, carefully to husband 

 the same and to erect the building in the course of several 

 years, in part out of the proceeds of the sum before meu- 

 tioned, and in part out of such portions of the income of 

 the original fund as could be spared from the ordinary 

 operations of the institution. This scheme has been effect- 

 ually carried out, and the Regents now ask to be allowed to 

 place in the Treasury of the United States along side of 

 the original bequest, and upon the same terms, never to be 

 expended, the sum of $150,000 of accrued interest, and to 

 be allowed to add to this from time to time, such other 

 sums as may come into their possession by donation or 

 otherwise, until it, with the sums thus added shall amount 

 to $200,000, making in all a principal fund of a little more 

 than $715,000. 



After this deposit of $150,000, the Regents will still have 

 sufficient money on hand to finish the whole exterior ot 

 the building, and such portions of the interior in addil 

 to those now completed, as may be wanted for several years 

 to come, they then propose gradually to finish the remain- 

 der in such portions as may be wanted out ot the an 

 accruing interest. 



The sole object of the request is the permanent mvesl 



