Andrew Johnson, as Congressman, makes enquiries into the government funding of the Smithsonian Institution. "Will you be kind enough to inform me what kind debentures the Smithson Fund consist, the prospect of their being paid and when, the original amount received by the United States, the amount of interest paid out of the Treasury upon the same and whether that interest has been reinvested in stocks of the U. S. I would like to know the precise condition of the fund and whether Arcansaw [sic] and the other states holding the fund have paid back into the treasury either interest or principal, or made any arrangements to do the same. Your early compliance with this request will much oblige."
James Smithson, the British chemist, stated in his will that £120,000 be "left to the United States for the purpose of founding an Institution at Washington to be called the Smithsonian Institution for the increase and diffusion of knowledge among men." After several years of congressional haggling, the building of the institution was begun in 1846. Some of the surplus funds were invested in trust for the continuing use of the institution. A portion of these funds were invested in worthless Arkansas bonds, which Johnson discusses here.
Please call 1-800-555-5555 to order a print catalog for this sale.
Online Registration to Bid is Closed for this Sale. Would you like to watch the live sale?Watch Live Sale