_December, 1840_.
Hon. J.R. POINSETT,
_Secretary of War_.
SIR: A compact was made on the 17th January, 1837, "subject to the
approval of the President and Senate of the United States," which it
received from the former on the 24th March, 1837, in conformity with
the resolution of the Senate of 25th February, between the Choctaw and
Chickasaw tribes of Indians, of which I have the honor to inclose a copy.
By this instrument the right to occupy a portion of the Choctaw country
west of the Mississippi was, with certain privileges, secured to the
Chickasaws, who agreed to pay therefor $530,000, of which $30,000
were paid in 1837, and the remaining $500,000 it was agreed should be
invested under the direction of the Government of the United States
and that the interest should be paid annually to the Choctaws.
There being no money to place in the hands of the United States,
but a very large amount of Chickasaw stock under the direction of the
Treasury, the reasonable desire of the Choctaws that this large fund
belonging to them should be put in their own names on the books of the
Government can be gratified by a transfer of so much of the stock to the
Secretary of War for their use, upon which the interest will be received
and paid over to them. This will be an execution of the agreement of the
parties. A sale of stocks to raise the money and then a reinvestment of
it according to the letter of the compact ought not to be resorted to on
account of their present low price in the market.
In considering this subject in the course of the autumn the thirteenth
article of the treaty of 24th May, 1834, with the Chickasaws was
adverted to, by which it is provided: "If the Chickasaws shall be so
fortunate as to procure a home within the limits of the United States,
it is agreed that, with the consent of the President and Senate, so much
of their invested stock as may be necessary to the purchase of a country
for them to settle in shall be permitted to them to be sold, or the
United States will advance the necessary amount upon a guaranty and
pledge of an equal amount of their stocks." The compact before referred
to having been ratified by the President and Senate, it was doubted
whether that was not a virtual consent to the application of so much
of the stock as would be required to pay for the land and privileges
contracted for by the said compact, and an authority for the transfer
of it. The question was referred to the Attorney-General, who was of
opinion that the transfer could not be legally made without the assent
of the President and Senate to the particular act.
I have therefore respectfully to request that you will lay the matter
before the President, that if he concurs in the propriety of so doing he
may give his own and ask the consent of the Senate to the proposed
proceeding.
Very respectfully, your most obedient,