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obligations to the Nation Collectively.

of directly by the Indian Bureau with five hundred thousand dollars of it, the United States paid themselves for eight hundred thousand acres of land, given up to the Cherokees.

    Another five hundred thousand of it was invested as follows: Three hundred thousand as a national fund; one hundred and fifty thousand as a school fund; and fifty thousand as a fund for the support & education of orphans.
    The next forty thousand dollars, that is, fifteen thousand for Osage Reservations and Twenty Five Thousand for Missionary Reservations, appears to have been applied as required.
    The two hundred & fourteen thousand dollars of commuted annuities, coming next in order, were, with the sum of five hundred thousand dollars, which was set apart for investment out of the five millions, required to be invested in stocks "safe, and the most productive of the country."
    These sums were invested as follows:

Kentucky five per cents $ 94,000.00 Tennessee " " " 250,000.00 Alabama " " " 300,000.00 Maryland six " " 761.39 Michigan " " " 64.000.00 So the $714,000 bought $708,761.39

    Concerning this investment, a passing remark or two, touching the injunction that they be "safe and the most productive in the country, "may not be irrelevant.
    Perhaps it would be wrong to say that they are not safe; nevertheless, an immense depreciation at the present time, -- and the non-payment 
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