Menominee Tribe of Indians v. United States

We are of opinion that plaintiff is not entitled under the provisions of the Act of February 12, 1929, to recover interest on interest. This act (45 Stat. 1164), entitled “An Act To authorize the payment of interest on certain funds held in trust by the United States for Indian tribes,” provides as follows:

That all money in excess of $500 held by the United States in a trust fund account, and carried on the *162books of the Treasury Department to the credit of an Indian tribe, if the payment of interest thereon is not otherwise authorized by law, shall bear simple interest at the rate of 4 per…