A
result in substantial accord with the advisory suggestions contained in
the joint resolution of March 3, 1883, has been agreed upon and will
shortly be submitted to the Senate for ratification.
Under section 3659 of the Revised Statutes all funds held in trust by
the United States and the annual interest accruing thereon, when not
otherwise required by treaty, are to be invested in stocks of the United
States bearing a rate of interest not less than 5 per cent per annum.
There being now no procurable stocks paying so high a rate of interest,
the letter of the statute is at present inapplicable, but its spirit is
subserved by continuing to make investments of this nature in current
stocks bearing the highest interest now paid. The statute, however,
makes no provision for the disposal of such accretions. It being
contrary to the general rule of this Government to allow interest on
claims, I recommend the repeal of the provision in question and the
disposition, under a uniform rule, of the present accumulations from
investment of trust funds.
The inadequacy of existing legislation touching citizenship and
naturalization demands your consideration.
While recognizing the right of expatriation, no statutory provision
exists providing means for renouncing citizenship by an American
citizen, native born or naturalized, nor for terminating and vacating
an improper acquisition of citizenship.
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