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SMITHSONIAN INSTITUTION 537 
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MADE BY BAKER-VAWTER CO.
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The Secretary said that he had communicated with Senators McCormick and Lodge, and with members of the Rules Committee, on the subject. He was not asking any formal action of the Board, but thought that the matter should be brought to its attention.

ACCEPTANCE OF GIFTS WITH CONDITIONS.

The Secretary stated that a letter received by the Chairman of the Executive Committee has the following statement and questions:

"I have drawn up a paragraph which I am thinking of putting in my will which would make the Smithsonian Institution the custodian of a sum the income of which during my daughter's lifetime would be paid to her, and after her death the income to be used for the publication of scientific papers, etc., provided that one-half the income shall be added annually to the principal for a period of fifty years."

"There are two questions involved:

"First; Would the Smithsonian receive such a bequest under the condition of paying the income to my daughter as provided?

"Second; Would the Smithsonian be willing to add one-half of the income to the principal for a period of fifty years?

"The second item has already been passed upon several times by the acceptance of gifts containing provision that the income should be added to the principal for a certain period or until it reached a certain amount.

"The first item involves the care of the administration of the securities or money during my daughter's lifetime."

At the meeting of the Board of Regents held January 24, 1894, the following resolutions governing the acceptance of gifts by the Permanent Committee, were passed:

RESOLVED: That the Executive Committee and the Secretary are hereby constituted a Permanent Committee, with authority to accept for the Institution any property, real, personal, or mixed, that may be given to it for its purposes, "the increase and diffusion of knowledge among men", with power to sell or to convert such property, and to invest the proceeds in such manner as may appear to them for the interests of the Institution: [[underline]] Provided [[/underline]], That no deposit be made of such proceeds with the permanent fund in the United States Treasury other than by special resolution of the Regents. 
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