Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-01-11
THE SMITHSONIAN FUND.
Prof. Langley Says 1t is Growing Too
Small.

N URGES THE CLAIMS OF THE INSTITUTION UPON
THE eovERNxEST-THE DECREASING PURcHAs-
so POWER OF MoNEY-HE THINKS THE FUND
SHOULD BE ENLARGED.
The annual report of the secretary of the
Smithsonian institution, recently submitted, as
stated to TIE STAR, to the board Of regents
the first annual report made by Prof. s. P.
Langley, as secretary-calls attention to the
fact that the change in the purchasing power
Of money in the half century that has elapsed
since Congress accepted Smithson's bequest,
has essentially diminished the actual value Of
the Smithsonian fund, while its nominal value
remains unchanged.
II do not now refer" he says, merely to
the fact that we measure all things by another
scale in 1888 from what we did in 1885, or that,
owing to the immense increase of public
wealth, the capital of the original bequest,
which then was greater than any but few
private fortunes, has become relatively so in
considerable to-day. More than this is meant
It is meant that the actual purchasing power
of each dollar is for our purposes notably less;
that il is being forced upon us that we cannot
print as many books, or pay as many employees,
or make many researches, when the
scheme of expenditure was first fixed, and that,
consequently, a scheme which was wise then,
because not only desirable but feasible. is not
necessarily so now" He refers to the fact that
committee of regents in 1877 called attention
to the decreasing value of the income of the
institution, and he adds, that in time, short
with reference to the probable life OF the in
stitution, the income will become entirely in
adequate to carry on the object of Henry's care
on the scale which he inaugurated. This will
be sufficient to maintain the institution in its
position of independence and disinterested-
ness.
THE NEED OF ESLARGING THE FUND.
at is nevertheless" he says, 'most evident
" desirable that the fund should be enlarged
both by governmental recontribntion and by
private bequest, so as to constantly represent
at least the original position of its finances rel
atively to those of the country and contempo-
rary institutions of learning, position which
we can estimate from the observation that
there are several such institutions. which were
at first scarcely on par with IL financially but
whose funds having been invested so as to
share in the growth of the country, and aided
by private benefaction, now surpass ours from
ten to twenty fold.
I'VE can never regret the generous spirit
which has dictated the direction of the expen-
diture OF the Smithsonian income in the past,
but il Is true that if less absolutely unselfish
policy had been followed-if, for instance.
though keeping up all proper expenditures for
the increase and diffusion of knowledge. those
funds whose expenditure has practically Injured
chiefly to the benefit of the general govern
ment had been allowed to accumulate-the in
stitution would have been comparatively
wealthy to-day.
CLAIMS on THE GOVERNMENT.
Il will instance. in explanation of my mean
ing, the remark of Professor Henry in 1872. to
the effect that the government. in equity.
should then have paid the institution $500. 900
for the use of the present building. This
building. erected wholly out of Smithsonian
funds at the cost of over half a million dollars.
has, with the exception of small portion, been
ever since that time used rent-free by the gov
eminent; and If the observation had force
then. 1t has double force to-day. Again, the
institution has left in perpetual charge of the
nation. IN the museum alone, property ac-
CURED out of its private fund (and to which it
has apparently the same title), which is prob
ably now more than equal in value to the
whole amount of the Smithsonian bequest
While II Is gratefully recognized that Congress
has never dealt in any ungenerous spirit with
the institution. | cannot think it superfiuous to
keep such facts as those Just cited in mind at
time when ii becomes necessary TO review the
whole scheme OF expenditure. III view of an
income practically diminishing, and which
would, If not for these facts, be more than
double its actual amount
TIE sMITHsoN BEQUEsT
The will of James Smithson, of England sto
found at Washington. under the name of the
Smithsonian Institution, an establishment for
the increase and diffusion of knowledge among
men, was made October %. 1926. The exist
ence Of the bequest was communicated to Con-
gress by a message from the President of the
United States December II, 1885. and by an act
of Congress approved July /. 1885, the beauest
was accepted. and the President wa authorized
and enabled TO assert and prosecute with effect
the claim of the United States to the property
thereby bequeathed and then held in trust by
the English court of chancery Under this au-
thority the sum of S50S .3l3. IS was received in
gold by the United States and placed in the
Treasury. The Smithsonian Institution pro-
ylded for in the will of Smithson was not es-
tablished. however. by Congress until August
10, 1916, when definite plan of organization
was adopted and operations commenced
By act of Congress February 8. 1861 the Sec
Rotary OF the Treasury was authorized to re-
eelye reslduary legacy of Smithson which
had been received by the institution in 1863
amounting TO S26,2l0.63. on the same terms as
the original bequest. By the same act the re-
gents were authorized TO add 10 the Smith
sonian fund such other sum as they might see
mt to deposit, not exceeding. with the original
bequest. the sum of S1.O000OO The original
bequest and the sums since added are there
fore as follows:
Request of Smithson. 1916 S515. 100 90
Residuary legacy of Smithson. 1867. 26.21O.63
deposits from savings ofincome. &C.,
1901 Observation-Disclosures. los $40 81
request OF james Hamilton. 1874. 10000
Request OF Simeon Habel 1880 $1,000
Deposit from proceeds of sale of
bonds, 1881. -..--............... 51.5O0.OO
Total permanent Smithsonian fund
IN the Treasury of the United
States, bearing interest at per
M N