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.
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