About Smithsonian Institution | Smithsonian Magazine

On July 1, 1836, President Andrew Jackson announced to Congress the bequest by James Smithson of 100,000 gold sovereigns to found the institution in Washington. An excerpt from the article:

"Smithson died in 1829, and six years later, President Andrew Jackson announced the bequest to Congress. On July 1, 1836, Congress accepted the legacy bequeathed to the nation and pledged the faith of the United States to the charitable trust. In September 1838, Smithson’s legacy, which amounted to more than 100,000 gold sovereigns, was delivered to the mint at Philadelphia. Recoined in U.S. currency, the gift amounted to more than $500,000.

After eight years of sometimes heated debate, an Act of Congress signed by President James K. Polk on Aug. 10, 1846, established the Smithsonian Institution as a trust to be administered by a Board of Regents and a Secretary of the Smithsonian."