PROCEEDINGS OF THE BOARD OF REGENTS 77 



gentle and prepossessing manners, his refined taste, high moral perceptions, and 

 unswerving advocacy of the right. 



Resolved, That a copy of these resolutions be transmitted to the widow of 

 the deceased, and that the Secretary prepare a suitable eulogy for insertion in 

 the next Annual Report. 



General Delafield presented the annual report of the Executive Committee, 

 which was read and adopted. 



The Secretary presented the following copy of the act of Congress relative 

 to the increase of the trust fund, referred to at the last meeting of the Board, 

 and a statement of what had been done in accordance with it. 



[Public — No 20.] 



AN ACT authorizing the Secretary of the Treasury to receive into the treasury the residuary 

 legacy of James Sraithson, to authorize the Regents of the Smithsonian Institution to apply 

 the income of the said legacy, and tor other purposes. 



Be it enacted bij the Senate and House of Representatives of the United 

 States of America in Congress assembled, That the Secretary of the Treasury 

 be, and he is hereby, authorized and directed 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 Secretary, namely, twenty- 

 six thousand two hundred and ten dollars and sixty-three cents, together with 

 such other sums as the Regents may from time to time see fit to deposit, not 

 exceeding with the original bequest the sum of one million dollars. 



Sec. 2 And he it further enacted, That the increase which has accrued, or 

 which may hereafter accrue, from said residuary legacy, shall be applied by the 

 Board of Regents of the Smithsonian Institution in the same manner as the in- 

 terest on the original bequest, in accordance with the provisions of the act of 

 August tenth, eighteen hundred and forty-six, establishing said Institution. 



Approved, February 8, 1867. 



The Secretary stated that in accordance with the directions of the Board of 

 Regents, and the authority conferred by the above act, he had increased the 

 amount of the Smithsonian fund in the treasury of the United States on the 19th 

 of February, I8G7, to $550,000, in the following manner : 



The interest, at 7 3-10 per cent., due for two years, to Feb- 

 ruary 15, 1867, on the $54,150 U. S. bonds, was collected, viz : 87, 905 90 



S25,400 of the bonds were taken by the Treasury Depart- 

 ment at 6 per cent, premium, yielding Bonds $25, 400 



Premium 1, 524 



26,924 00 



Interest from 15th February to 19th, four days 20 32 



Amount realized 34, 850 22 



Amount placed in the United States treasury, to be added to 

 the original trust fund, $515,169, (making it $550,000) 34, 831 00 



Leavinjr a balance in cash of $19 22 



This balance v,a3 deposited with Riggs & Co. to the credit of the Smithsonian 

 account. 



