"The Smithsonian Institution was founded for the "increase and diffusion" of knowledge by a bequest to the United States by the British scientist James Smithson (1765–1829), who had never visited the United States himself. In Smithson's will, he stated that should his nephew, Henry James Hungerford, die without heirs, the Smithson estate would go to the government of the United States for creating an "Establishment for the increase & diffusion of Knowledge among men". After the nephew died without heirs in 1835, President Andrew Jackson informed Congress of the bequest, which amounted to 104,960 gold sovereigns, or US$500,000 ($9,235,277 in 2005 U.S. dollars after inflation).
Eight years later, Congress passed an act establishing the Smithsonian Institution, a hybrid public/private partnership, and the act was signed into law on August 10, 1846 by James Polk. (See 20 U.S.C. § 41 (Ch. 178, Sec. 1, 9 Stat. 102).) The bill was drafted by Indiana Democratic Congressman Robert Dale Owen, a Socialist and son of Robert Owen, the father of the cooperative movement."

http://en.wikipedia.org/wiki/Smithsonian