Smithsonian Increases Endowment through Receipt of Residual Smithson Legacy
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PrintThe United States Congress passes an act requiring that James Smithson's residual legacy of $26,210.63 be added to the Smithson bequest in the United States Treasury. This includes both a residual bequest and the amount remaining of interest earned on the Smithson bequest prior to 1846. The act also allows the Board of Regents to increase the Smithson bequest through savings, donations, and other sources, to a sum not exceeding one million dollars. Within less than two years of the end of the Civil War, first Smithsonian Secretary Joseph Henry has increased the Institution's endowment from $515,000 to $650,000.
Chronology of Smithsonian History
Institutional History Division, Smithsonian Institution Archives, 600 Maryland Avenue, S.W., Washington, D.C. 20024-2520, SIHistory@si.edu
February 8, 1867