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 United States of America 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 USD 500,000 ($9,235,277 in 2005 U.S. dollars after inflation).