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[[preprinted]] SMITHSONIAN INSTITUTION 652 [[preprinted]] The Executive Committee therefore submits the following draft of a resolution for the action of the Board: RESOLVED; That the matter of securing an endowment of One Million Dollars for the Smithsonian Institution through the plan proposed by Messrs. Tamblyn & Brown be approved, and referred to the Permanent Committee of the Board of Regents with power to act. After discussion, on motion the resolution was adopted. STATUS OF SMITHSON FUND. The Secretary brought up the matter of the demand of the Budget Bureau that the annual interest of the Smithson Fund, $60,000.00, be included in the regular departmental estimates, stating that he had written to the Director explaining that this interest was in no sense an appropriation as such, but was an annual payment on the Fund which had been lent to the Government, and which for many years had been provided for under a permanent appropriation. He had had no reply to this letter, but the Budget Office had insisted that the amount should be included in the general estimates, and this had been done since the 1924 estimates. In order to bring the matter before the Board the Secretary submitted a series of resolutions for their consideration, which after discussion were adopted as follows: WHEREAS, the estimate for the appropriation of the interest on the Smithsonian Fund deposited in and lent to the United States Treasury in accordance with Revised Statutes Sections 5590 and 5591 had prior to the Budget for 1924 been submitted by the Treasury Department with other estimates for Permanent Annual Appropriations, and WHEREAS, beginning with 1924 the Institution has been required by the Bureau of the Budget to include an estimate of $60,000 for this interest on these trust funds lent to the Treasury, with the estimates for the regular appropriations made by Congress for the operation of the Government branches administered by the Institution, said $60,000 being included in the total of the appropriations made to the Institution in the Annual Budget, thus giving an erroneous impression of the support granted by Congress for said Government branches, Therefore, be it RESOLVED by the Board of Regents of the Smithsonian Institution that the estimate for the appropriation of the interest on the Smithsonian Fund, as described above, should not, in the opinion of this Board, be included in [[initialed] CDW [[/initialed]]
