INDIAN AFFAIRS: LAWS AND TREATIES

Vol. I, Laws     (Compiled to December 1, 1902)

Compiled and edited by Charles J. Kappler. Washington : Government Printing Office, 1904.


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ACTS OF FORTY-SIXTH CONGRESS—SECOND SESSION, 1880.
CHAP. 41 | CHAP. 85

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Chapter 41

Margin Notes
Chap. 41 Secretary of Interior may deposit Indian trust funds in Treasury.
    R. S., 3659.
    1876, June 10, ch. 122, ante, p. 26.
    R. S., 2096.
    28 Ct. Cls., 447.
Chap. 41 Interest; how payable; permanent appropriation for same.

{Page 28}

Chapter 41
    Apr. 1, 1880. | 21 Stat., 70.
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An act to authorize the Secretary of the Interior to deposit certain funds in the United States Treasury in lieu of investment.

Be it enacted, &c., That the Secretary of the Interior be, and he is hereby, authorized to deposit,in the Treasury of the United States, any and all sums now held by him, or which may hereafter be received by him, as Secretary of the Interior and trustee of various Indian tribes, on account of the redemption of United States bonds or other stocks and securities belonging to the Indian trust-fund, and all sums received on account of sales of Indian trust lands, and the sales of stocks lately purchased for temporary investment, whenever he is of the opinion that the best interests of the Indians will be promoted by such deposits, in lieu of investments;

And the United States shall pay interest semi-annually, from the date of deposit of any and all such sums in the United States Treasury, at the rate per annum stipulated by treaties or prescribed by law, and such payments shall be made in the usual manner, as each may become due, without further appropriation by Congress. [April 1, 1880.]


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