700 CONGRESSIONAL PROCEEDINGS. 



building, provided they receive what they are entitled to 

 receive; and hence this proposition to pay the interest in 

 -coin. I shall move an amendment to the proposition to 

 make up the difference between the currency which the 

 institution has received and the coin to which they were 

 entitled, in order that they may have the means to repair 

 the building. I think the Government is bound to pay it 

 by every obligation, and particularly by the obligation which 

 it took upon itself when it accepted this fund. 



But the Senator from Iowa brings in here the fact that 

 this fund was invested in Arkansas bonds: Was that the 

 fault of Smithson who made the bequest ? Whose fault was 

 it if an improvident use was made of the funds of the insti- 

 tution ? But that question is not now to be settled. The 

 Government of the United States has assumed the control 

 of this money, has incorporated this institution, has agreed 

 to pay the interest forever at six per cent, upon the money 

 that was placed in its Treasury; and, unless it means to re- 

 pudiate this obligation, it is bound to pay it, and it is bound 

 to pay it in the same currency that it pays to other creditors 

 similarly situated. That is all that the institution asks. 

 They probably would not have pressed at this time for the 

 payment in coin but for the misfortune of the fire which 

 has recently occurred. I move to amend the section which 

 is pending by adding to it the following: 



And in case the interest heretofore paid to said institution has been j>:tid 

 in a different currency, or of less value, than that paid by the Government 

 on other permanent debts or trust funds, that the Secretary be directed to 

 make up the difference to said Smithsonian Institution. 



Mr. COLLAMER. Mr. President, I do not wish to confine 

 my remarks to the amendment now under consideration. 

 I can see no good reason for the amendment of the Senator 

 from Illinois. So far as this institution have received their 

 interest in any money that was satisfactory to them when 

 they received it, I consider it paid. In relation to what has 

 not been paid them, it undoubtedly should be paid them, as 

 I think, in coin, as is the case with all the trust funds in the 

 hands of the Government. 



But, sir, I rose more particularly to make one remark. 1 

 feel a good deal gratified at the speeches that have been 

 made on this subject this evening, and from this considera- 

 tion : Congress, by the votes of many of the gentlemen who 

 have spoken on this subject to-night, passed a law nearly 

 four years ago to enable individuals to pay off their old notes in 

 depreciated paper at half price, and we called it a legal tender. 

 These gentlemen voted for that measure, by which people 



