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A-58219 1 (1935-02-26)

handle is hein.gao/gaobadbmr0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON IRS 28 1505 A-58219 FEE 26 1935 The Fonorable The Secretary of the Treasury. sir: In addition to large sums of Individual Indian moneys which are deposited in terest-bearing accounts in various banks, nder aection 8 of the set of M 2y 25 1918, 40 Stat* 531, which provides* That the Seeretary of the Interior be# and he Is hereby, authorized, under sueh rules and regulations a he may pre- earibe, to withdraw from the United States Treasury and aegre gate the soaumes r coammunity fune of any Indian tribe which are# or may hereafter be, held in trust by the United States, and hi b are suseeptible of segregation, so as to credit an equal share to each and every recognized amber of the tribe exoept those wh1o pro rata shares have already been withdramu under existing law. and to deposit the funds so segregated La banks tobe seted bfhim, in the taite or States in which the tribe is locateds subject to withdrawal for payment to the individual owners or expenditure for their benefit under the regulations goveraing the use of other Individual Indian acnes. The said secretary is also authorized, under uab rules and regulations as he may prescribe, to withdraw fro the Treasury and depovit in banks in the State or States in which the tribe is located to the credit of the respective tribes% such eam= or cowity, triat funds as are not nweceptible of segregatioa as aforesaid, and on which the United States is not obligated by law to pay interest at higher rates then can be procured from the beakes Provided, That no tribal or individual Indian moneys shall be deposited in any bank until the bank shall have agreed to pay iaterest thereon -t a reasonable rate aid shall have furnished an acceptable bond or collateral security there. for, and United Statea bonds rney be furnished as collateral security for either tribal or individual funds so deposited, in liea of surety bonds: Provided further, Shat the secretary of the Interior, if he deems it advisable and for the best inter- eats of the Indiana, may invest the trust funds of any tribe or individual Indian in United States Government bondss and Lrovided further, That any part of tribal funds required for support of schools or pay of tribal officers shall be excepted

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