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Liabilities of the United States to Indians, 1890
Posted By Dennis Partridge On In America,Native American | No Comments
The United States holds in trust funds which are invested, in state and other bonds for certain tribes of Indians. These funds have arisen from the sale of Indian lands or from the sale of the lands of removed Indian tribes, the United States investing the money in bonds or stocks. The amount of stock so held is $1,648,016,83?. The annual interest charge on this amount is $98,26l.01. This is paid to the trust tribes each year by the government. The amount of bonds of Indians abstracted from the United States Treasury is $83,000. The annual interest charge on these is $4,980. The United States thus holds for these Indian tribes a total of $1,731,016.84? of stocks, with an animal interest charge of $103,241.01, which is paid by the United States to the Indians, or for which the United States is liable.
Another character of investments by the nation for Indians is “funds held in trust” in lieu of investment. This class of liabilities also arises from land sales or removals. The amount of funds held in trust by the government for Indians and for which it pays interest from the Treasury of 4 or 5 per cent per annum is $23,760,413.34. The annual interest charge paid out by the nation to the Indians on this account is $1,175,312.96. To the amount of funds held in trust for tribes must be added $7,441,666.64, the amount of aggregate future appropriations to pay liabilities to Indian tribes under treaty stipulations; in all $31,202,079.98. (a) Congress each year appropriates money to pay the Indians. interest due on bonds which do not pay interest. The interest on the bonds of 6 states was appropriated for in 1890, amounting to $96,490.
From these thuds, however, Indian depredation claims are paid. The amount claimed to date on this account .more than equals the total amount of the above debt. In any event the United States is liable for the total amount, whether it reaches the Indians, the lawful owners of the same, or the white men who may be awarded Indian money for Indian depredations.
For full particulars as to these trusts seethe annual reports of the Commissioner of Indian Affairs.
The liabilities of the United States to Indians under treaties are published annually by the Commissioner of Indian Affairs. The amount of money necessary to meet stipulations indefinite as to time, now allowed, but to be discontinued, is $1,134,690; aggregate bf future appropriations that will be required during a limited number of years to pay limited annuities incidentally necessary to effect payment, $7,441,666.64; amount of annual liabilities of a permanent character, $322,007.35; amount held in trust on which 5 per cent is annually paid, and amounts which, invested at 5 per cent, is annually paid and amounts which, invested at 5 per cent, produce permanent annuities, $5,479,737.36.
a See Report: Commissioner of Indian Affairs, 1890, pages 423-433.
The following statements show the transactions in the Indian trust funds and trust lands during the year ending October 31, 1890: Statements A, 13, C, D, E, and F, show in detail the various stocks, funds in the Treasury to the credit of various tribes, and collections of interest. A statement is also given showing the condition of nominal state stocks enumerated in table C.
A consolidated statement is given of all interest collected, and a statement of interest appropriated by Congress on nonpaying state stocks for this fiscal year ending June 30, 1890.
A statement also will be found showing the transactions arising on account of moneys derived from the sales of Indian lands, all being sufficiently in detail to enable a proper understanding of the subject.
A.-list of names. Of Indian tribes for whom stock is held in trust by the Secretary of the Interior (Treasurer of the United States Custodian), showing the amount standing to the credit of each tribe, the annual interest, the date of the treaty or law under which the investment was made, and the amount of abstracted bonds for which congress has made no appropriation, and the annual interest on the same.
a Report, of the Commissioner of Indian Affairs, 1890, page 423.
NOTE.-The reduction of the amount of stock held in trust as shown by the last annual report was caused by the redemption of $110,000 bonds of the state of North Carolina. The $1,000 bond of the state of Indiana belonging to the Pottawatomie education fund, heretofore carried in the column under “Amount of abstracted bonds”, has been dropped from this statement for the reason that Congress, by act approved August 19, 1890, appropriated the face value of the same with interest for 22 years.
B. Statement Of Stock Account, Exhibiting In Detail The Securities In Which The Funds Of Each Tribe Are Invested And Now On Hand, The Annual Interest On The Same, And The Amount Of Abstracted Bonds Not Provided For By Congress. (A)
a Op. cit.., pages 424, 425.
C.—Statement Of Stocks Held By The’ Treasurer Of The United States As Custodian For The Various, Indian Tribes, Showing The Amount Now On Hand; Also Abstracted Bonds, For Which Congress. Has Made No Appropriation. (a)
D.-Statement Of Funds Held In Trust By The Government In Lieu Of Investment. (a)
a Op, cit,” room 425, 426.
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