PROCEED J NGS OF THE BOARD OF REGENTS 75 



$515,109, which was considered a trust fund, tlic interest alone to be applied to 

 carrying out the parpc.se of the testalor, viz : " The increase and diffusion of 

 knowledge among men." 



This, however, was not the ■whole of the Smithsonian bequest, the sum of 

 005,015 sterling having been left by Hon. R. Hush, -the agent of the United 

 States, as the principal of an annuity to the mother of the nephew of Smilhson. 



Thi! annuitant having died, the sum of $26,210 63 has been received from 

 this source, and is now in charge of the Secretary of the Treasury of the United 

 States ; and no provision having been made in the act of August 10, 1846, es- 

 tablishing the Institution, for the disposition of this remainder of the legacy, 

 your mernorialisrs, in behalf of the Board of Regents, now ask that it be added to 

 the original bequest on the same terms ; and that the increase which has arisen 

 from inerest or otherv/ise on the sum before mentioned, also in the hands of 

 the Treasury Department of the United States, be transferred to the Board of 

 Regents for assistnig to defray the expense of the reconstruction of the building, 

 and for other objects of the Institution. 



And your memorialists would further ask that the Board of Regents be allowed 

 to place in the treasury of the United States, on the same terms as the original 

 bequest, such sums of money as may accrue from savings of income and from 

 other sounes, provided the whole amount thus received into the treat^ury shall 

 not exceed one million dollars 



The sole object of this request is the ])erman('nt investment and perpetual se- 

 curity of the entire Smithsonian bequest and such other sums as may be accu- 

 mulated from savings of accrued interest, legacies, &c. 



And your memorialists will ever prav, &c. 



S. P. CHASE, 



C7/affccIlnr. 

 JOSEPH HENRY, 

 Sccrcfar^ i>milhsonian Institvtion. 



Resolved, hy the Board of Kc gents of tlie Smillisovian Institution, That an ap- 

 plication be made to Congress for an act authorizing the Treasurer of the United 

 States to receive into the treasury, on the same terms as the original bequest, 

 the residuary legacy of James Smithson, now in United States bonds in the 

 hands of said Treasurer, namely, .f 26, 210 63, together with such other sums as 

 the Regents may from time to time see fit to deposit, not exceeding, with the ori- 

 ginal bequest, the sum of $1,000,000 ; and that the income which has accrued 

 or may accrue from said residuary legacy be applied in the same manner as the 

 interest on the original bequest. 



Mr. Patterson stated that in behalf of the committee he had presented the 

 memorial to the House of Representatives, with a bill in accordance therewith, 

 Avhich had passed unanimously that day, and been transmitted to the Senate. 



Mr. Trumbull stated that this bill had also unanimously passed the Senate, 

 and only awaited the signature of the President to become a law^ 



The subject of the future policy of the Institution in regard to the museum 

 and the appropriation of the large hall in the second story of the building, 

 was brought before the board by the Secretary, and remarks were made by 

 Professor Agassiz, Mr. Patterson, General Garfield, General Dehrfield, the Chan- 

 cellor, and the Secretary. 



On motion of Mr. Patterson, it was 



Resolved, That a committee be appointed to consider what will be the best 

 use for the large room in the second story of the main building of the Institu- 

 tion. 



