LIBRARY OF CONGRESS TO BE GIFTED $100,000 BY UNNAMED DONOR
Washington, D.C. (JFK+50) On June 3, 1925, The Evening Star reports that "The Library of Congress has been offered $100,000*, the first gift under an act...which authorized a trust fund board to review such contributions to the institution."
This information was revealed after conclusion of a meeting between Secretary of Treasury Andrew Mellon, librarian Herbert Putnum** and another member of the trust board, John B. Payne.
The name of the donor will not be made public until final approval of the monetary gift by the board.
*$100,000 (1925) converted to (2025), based on an inflation rate of 2.95%, would be $1,824,306.36.
**George Herbert Putnum (1861-1955) was born in New York City. His father founded G.P. Putnum's Son's publishing house. GHP was educated at Harvard & Columbia universities & served as Librarian of Congress 1899-1939 under 8 presidents.
SOURCES
"$100,000 Offered Congress Library," The Evening Star, Washington, D.C., June 3, 1925, Chronicling America, Library of Congress, www.loc.gov/
"What is $100,000 in 1925 Worth in 2025?," www.Amortization.org/
