THIRTY-SEVENTH CONGRESS, 1861-63. 681 



Mr. Cox. For the information of the gentleman, I would 

 ike to correct him in his statement about the Government 

 not being liable to pay this $30,000 interest money. The 

 Government received $500,000 from the Smithson estate, 

 and was unfortunate in the investment of the money. It 

 nvested it, I believe, in Arkansas bonds, which proved 

 worthless. It received the money, and was accountable for 

 it in all honor. And to carry out the purposes for which 

 the fund was intended, they are bound to pay the interest 

 upon the sum at six per cent., which is yearly due from the 

 United States Treasury. 



Mr HOLMAN. I asserted that the payment of this $30,OC 

 was munificence, and not justice, on the part of the Gov- 

 ernment I ask the gentleman whether the Government 

 acted in the acceptance of this trust, in any other capacity 

 than as trustee ; and whether, as such, the money was not 

 invested in good faith ? 



Mr. Cox. I say they did accept the trust, and got the 



. And did not they act in good faith in the 

 investment of it, although it was lost ? 



Mr. Cox. I think they acted with very bad judgment. 

 The amendment was agreed to. 

 Mnrrh 1? 1862 Mr. McPflERSON introduced a resolution 

 foS^Sment of Theo. D. Woolsey, of Connecticut, 

 as regent, in place of C. C. Felton, deceased ; referred to 

 Committee on the Library. 



Mnrch 27 1862 Mr. MC?HERSON asked unanimous con- 







subtly withdrew his objection, 



olution ; 'and it was adopted. 



March 14, 1862. The following appropriation was mad 



For 



to bcexpe roriation shall 



mtsonan , . appropraon sa 



on the Library of Congres, and L it * P^ b/^fied, if neces- 



remain unexpended lor t he* > pu ipo,e^ ti works of said explor- 



'"'" ...... "'" 



' April 17, 1862.-Mr. McPiiERSON, from the Committee 



