Chapter 41. to authorize the Secretary of the Interior to deposit certain funds in the United States Treasury in lieu of investment
229 words·~1 min read·
/statutes-at-large/vol-21/chapter-41-282031A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. 41.— An Act to authorize the Secretary of the Interior to deposit certain funds in the United States Treasury in lieu of investment.April 1, 1880. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*,Indian trust fluid to be deposited in Treasury. 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 ho is of the opinion that the best interests of the Indians will be promoted by Interest payable semiannually.
Rate. Manner.such deposits, in lieu of investments; and the United States shall pay interest semiannually, 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 Permanent appropriation.the usual manner, as each may become due, without further appropriation by Congress. Approved, April 1, 1880.