Initially a Federalist like his father, he won election to the presidency as a member of the Democratic-Republican Party, and in the mid-1830s became affiliated with the Whig Party. The money was invested in shaky state bonds, which quickly defaulted. After heated debate in Congress, Adams successfully argued to restore the lost funds with interest. After heated debate in Congress, Adams successfully argued to restore the lost funds with interest. Though Congress wanted to use the money for other purposes, Adams successfully persuaded Congress to preserve the money for an institution of science and learning. Congress also debated whether the federal government had the authority to accept the gift, though with Adams leading the initiative, Congress decided to accept the legacy bequeathed to the nation and pledged the faith of the United States to the charitable trust on July 1, 1836. Partly due to Adams's efforts, Congress voted to establish the Smithsonian Institution in 1846.