There’s been a lot of talk about how much money is being held in trust for First Nations peoples. Some say non-Native people are footing the bill 100% for First Nations peoples. Others say that Native people are paying their own way 100%. But most people don’t know what to believe about who pays for what, or how much money is being held by the federal government that belongs to First Nations peoples.

I’ve done serious research on the matter for weeks now, and I thought I’d give readers and followers alike a taste of what I’ve learned courtesy of federal government documents.

Let’s start with this quote from Collections Canada:

“[quote] *The amount at the credit of the various Indian bands and of individual Indians, for whom the Government hold moneys in trust, aggregated in principal and interest on the 30th June, 1890, $3,479,200.99* [end quote].”

So there was almost $**3.5 MILLION** dollars already being held in trust for First Nations peoples back in 1890. No, the date isn’t a typo. I didn’t mean 1980. I meant 1890. And no, the amount isn’t a typo. It’s right there in the federal government archives and supported by proper documentation from 1890.

Now pay attention to the first part of that sentence:

*The amount at the credit of the various Indian bands and of individual Indians, for whom the Government hold moneys in trust, …*

Take a look at these two important parts of the first part of the sentence:

*The amount at the credit of the various Indians bands and of individual Indians …*

and

for whom the Government hold **moneys in trust** …

That’s very clear as to how much money was being held in trust and for whom.

Now let’s take that $3,479,200.99 (and just that amount) at a compounded interest rate of 2% per year, to calculate how much that amount from 1890 would become by June 2013.

(*SPECIAL* * NOTE: I’ve included the math for those who doubt that the figures are correct.*)

Year 1, compounding time #1

Current principal is $3479200.00

Interest earned on $3479200.00 is $3479200.00 × 0.02 = 69584.00

This makes your new principal $3479200.00 + $69584.00 = **$3,548,784.00**

Year 2, compounding time #1

Current principal is $3548784.00

Interest earned on $3548784.00 is $3548784.00 × 0.02 = 70975.68

This makes your new principal $3548784.00 + $70975.68 = **$3,619,759.75**

Year 3, compounding time #1

Current principal is $3619759.75

Interest earned on $3619759.75 is $3619759.75 × 0.02 = 72395.20

This makes your new principal $3619759.75 + $72395.20 = **$3,692,155.00**

Year 4, compounding time #1

Current principal is $3692155.00

Interest earned on $3692155.00 is $3692155.00 × 0.02 = 73843.10

This makes your new principal $3692155.00 + $73843.10 = **$3,765,998.00**

Year 5, compounding time #1

Current principal is $3765998.00

Interest earned on $3765998.00 is $3765998.00 × 0.02 = 75319.96

This makes your new principal $3765998.00 + $75319.96 = **$3,841,318.00**

Year 6, compounding time #1

Current principal is $3841318.00

Interest earned on $3841318.00 is $3841318.00 × 0.02 = 76826.36

This makes your new principal $3841318.00 + $76826.36 = **$3,918,144.25**

Year 7, compounding time #1

Current principal is $3918144.25

Interest earned on $3918144.25 is $3918144.25 × 0.02 = 78362.88

This makes your new principal $3918144.25 + $78362.88 = **$3,996,507.25**

Year 8, compounding time #1

Current principal is $3996507.25

Interest earned on $3996507.25 is $3996507.25 × 0.02 = 79930.14

This makes your new principal $3996507.25 + $79930.14 = **$4,076,437.50**

Year 9, compounding time #1

Current principal is $4076437.50

Interest earned on $4076437.50 is $4076437.50 × 0.02 = 81528.75

This makes your new principal $4076437.50 + $81528.75 = **$4,157,966.25**

Year 10, compounding time #1

Current principal is $4157966.25

Interest earned on $4157966.25 is $4157966.25 × 0.02 = 83159.32

This makes your new principal $4157966.25 + $83159.32 = **$4,241,125.50**

Year 11, compounding time #1

Current principal is $4241125.50

Interest earned on $4241125.50 is $4241125.50 × 0.02 = 84822.51

This makes your new principal $4241125.50 + $84822.51 = **$4,325,948.00**

Year 12, compounding time #1

Current principal is $4325948.00

Interest earned on $4325948.00 is $4325948.00 × 0.02 = 86518.96

This makes your new principal $4325948.00 + $86518.96 = **$4,412,467.00**

Year 13, compounding time #1

Current principal is $4412467.00

Interest earned on $4412467.00 is $4412467.00 × 0.02 = 88249.34

This makes your new principal $4412467.00 + $88249.34 = **$4,500,716.50**

Year 14, compounding time #1

Current principal is $4500716.50

Interest earned on $4500716.50 is $4500716.50 × 0.02 = 90014.33

This makes your new principal $4500716.50 + $90014.33 = **$4,590,731.00**

Year 15, compounding time #1

Current principal is $4590731.00

Interest earned on $4590731.00 is $4590731.00 × 0.02 = 91814.62

This makes your new principal $4590731.00 + $91814.62 =** $4,682,545.50**

Year 16, compounding time #1

Current principal is $4682545.50

Interest earned on $4682545.50 is $4682545.50 × 0.02 = 93650.91

This makes your new principal $4682545.50 + $93650.91 = **$4,776,196.50**

Year 17, compounding time #1

Current principal is $4776196.50

Interest earned on $4776196.50 is $4776196.50 × 0.02 = 95523.93

This makes your new principal $4776196.50 + $95523.93 = **$4,871,720.50**

Year 18, compounding time #1

Current principal is $4871720.50

Interest earned on $4871720.50 is $4871720.50 × 0.02 = 97434.41

This makes your new principal $4871720.50 + $97434.41 = **$4,969,155.00**

Year 19, compounding time #1

Current principal is $4969155.00

Interest earned on $4969155.00 is $4969155.00 × 0.02 = 99383.10

This makes your new principal $4969155.00 + $99383.10 = **$5,068,538.00**

Year 20, compounding time #1

Current principal is $5068538.00

Interest earned on $5068538.00 is $5068538.00 × 0.02 = 101370.76

This makes your new principal $5068538.00 + $101370.76 = **$5,169,909.00**

Year 21, compounding time #1

Current principal is $5169909.00

Interest earned on $5169909.00 is $5169909.00 × 0.02 = 103398.18

This makes your new principal $5169909.00 + $103398.18 = **$5,273,307.00**

Year 22, compounding time #1

Current principal is $5273307.00

Interest earned on $5273307.00 is $5273307.00 × 0.02 = 105466.14

This makes your new principal $5273307.00 + $105466.14 = **$5,378,773.00**

Year 23, compounding time #1

Current principal is $5378773.00

Interest earned on $5378773.00 is $5378773.00 × 0.02 = 107575.46

This makes your new principal $5378773.00 + $107575.46 = **$5,486,348.50**

Year 24, compounding time #1

Current principal is $5486348.50

Interest earned on $5486348.50 is $5486348.50 × 0.02 = 109726.97

This makes your new principal $5486348.50 + $109726.97 = **$5,596,075.50**

Year 25, compounding time #1

Current principal is $5596075.50

Interest earned on $5596075.50 is $5596075.50 × 0.02 = 111921.51

This makes your new principal $5596075.50 + $111921.51 = **$5,707,997.00**

Year 26, compounding time #1

Current principal is $5707997.00

Interest earned on $5707997.00 is $5707997.00 × 0.02 = 114159.94

This makes your new principal $5707997.00 + $114159.94 = **$5,822,157.00**

Year 27, compounding time #1

Current principal is $5822157.00

Interest earned on $5822157.00 is $5822157.00 × 0.02 = 116443.14

This makes your new principal $5822157.00 + $116443.14 = **$5,938,600.00**

Year 28, compounding time #1

Current principal is $5938600.00

Interest earned on $5938600.00 is $5938600.00 × 0.02 = 118772.00

This makes your new principal $5938600.00 + $118772.00 = **$6,057,372.00**

Year 29, compounding time #1

Current principal is $6057372.00

Interest earned on $6057372.00 is $6057372.00 × 0.02 = 121147.44

This makes your new principal $6057372.00 + $121147.44 = **$6,178,519.50**

Year 30, compounding time #1

Current principal is $6178519.50

Interest earned on $6178519.50 is $6178519.50 × 0.02 = 123570.39

This makes your new principal $6178519.50 + $123570.39 = **$6,302,090.00**

Year 31, compounding time #1

Current principal is $6302090.00

Interest earned on $6302090.00 is $6302090.00 × 0.02 = 126041.80

This makes your new principal $6302090.00 + $126041.80 = **$6,428,132.00**

Year 32, compounding time #1

Current principal is $6428132.00

Interest earned on $6428132.00 is $6428132.00 × 0.02 = 128562.64

This makes your new principal $6428132.00 + $128562.64 = **$6,556,694.50**

Year 33, compounding time #1

Current principal is $6556694.50

Interest earned on $6556694.50 is $6556694.50 × 0.02 = 131133.89

This makes your new principal $6556694.50 + $131133.89 = **$6,687,828.50**

Year 34, compounding time #1

Current principal is $6687828.50

Interest earned on $6687828.50 is $6687828.50 × 0.02 = 133756.56

This makes your new principal $6687828.50 + $133756.56 = **$6,821,585.00**

Year 35, compounding time #1

Current principal is $6821585.00

Interest earned on $6821585.00 is $6821585.00 × 0.02 = 136431.70

This makes your new principal $6821585.00 + $136431.70 = **$6,958,016.50**

Year 36, compounding time #1

Current principal is $6958016.50

Interest earned on $6958016.50 is $6958016.50 × 0.02 = 139160.33

This makes your new principal $6958016.50 + $139160.33 = **$7,097,177.00**

Year 37, compounding time #1

Current principal is $7097177.00

Interest earned on $7097177.00 is $7097177.00 × 0.02 = 141943.53

This makes your new principal $7097177.00 + $141943.53 = **$7,239,120.50**

Year 38, compounding time #1

Current principal is $7239120.50

Interest earned on $7239120.50 is $7239120.50 × 0.02 = 144782.41

This makes your new principal $7239120.50 + $144782.41 = **$7,383,903.00**

Year 39, compounding time #1

Current principal is $7383903.00

Interest earned on $7383903.00 is $7383903.00 × 0.02 = 147678.06

This makes your new principal $7383903.00 + $147678.06 = **$7,531,581.00**

Year 40, compounding time #1

Current principal is $7531581.00

Interest earned on $7531581.00 is $7531581.00 × 0.02 = 150631.61

This makes your new principal $7531581.00 + $150631.61 = **$7,682,212.50**

Year 41, compounding time #1

Current principal is $7682212.50

Interest earned on $7682212.50 is $7682212.50 × 0.02 = 153644.25

This makes your new principal $7682212.50 + $153644.25 = **$7,835,857.00**

Year 42, compounding time #1

Current principal is $7835857.00

Interest earned on $7835857.00 is $7835857.00 × 0.02 = 156717.14

This makes your new principal $7835857.00 + $156717.14 = **$7,992,574.00**

Year 43, compounding time #1

Current principal is $7992574.00

Interest earned on $7992574.00 is $7992574.00 × 0.02 = 159851.47

This makes your new principal $7992574.00 + $159851.47 = **$8,152,425.50**

Year 44, compounding time #1

Current principal is $8152425.50

Interest earned on $8152425.50 is $8152425.50 × 0.02 = 163048.50

This makes your new principal $8152425.50 + $163048.50 = **$8,315,474.00**

Year 45, compounding time #1

Current principal is $8315474.00

Interest earned on $8315474.00 is $8315474.00 × 0.02 = 166309.47

This makes your new principal $8315474.00 + $166309.47 = **$8,481,783.00**

Year 46, compounding time #1

Current principal is $8481783.00

Interest earned on $8481783.00 is $8481783.00 × 0.02 = 169635.66

This makes your new principal $8481783.00 + $169635.66 = **$8,651,419.00**

Year 47, compounding time #1

Current principal is $8651419.00

Interest earned on $8651419.00 is $8651419.00 × 0.02 = 173028.38

This makes your new principal $8651419.00 + $173028.38 = **$8,824,447.00**

Year 48, compounding time #1

Current principal is $8824447.00

Interest earned on $8824447.00 is $8824447.00 × 0.02 = 176488.94

This makes your new principal $8824447.00 + $176488.94 = **$9,000,936.00**

Year 49, compounding time #1

Current principal is $9000936.00

Interest earned on $9000936.00 is $9000936.00 × 0.02 = 180018.72

This makes your new principal $9000936.00 + $180018.72 = **$9,180,955.00**

Year 50, compounding time #1

Current principal is $9180955.00

Interest earned on $9180955.00 is $9180955.00 × 0.02 = 183619.09

This makes your new principal $9180955.00 + $183619.09 = **$9,364,574.00**

Year 51, compounding time #1

Current principal is $9364574.00

Interest earned on $9364574.00 is $9364574.00 × 0.02 = 187291.47

This makes your new principal $9364574.00 + $187291.47 = **$9,551,865.00**

Year 52, compounding time #1

Current principal is $9551865.00

Interest earned on $9551865.00 is $9551865.00 × 0.02 = 191037.30

This makes your new principal $9551865.00 + $191037.30 = **$9,742,902.00**

Year 53, compounding time #1

Current principal is $9742902.00

Interest earned on $9742902.00 is $9742902.00 × 0.02 = 194858.03

This makes your new principal $9742902.00 + $194858.03 = **$9,937,760.00**

Year 54, compounding time #1

Current principal is $9937760.00

Interest earned on $9937760.00 is $9937760.00 × 0.02 = 198755.20

This makes your new principal $9937760.00 + $198755.20 = **$10,136,515.00**

Year 55, compounding time #1

Current principal is $10136515.00

Interest earned on $10136515.00 is $10136515.00 × 0.02 = 202730.30

This makes your new principal $10136515.00 + $202730.30 = **$10,339,245.00**

Year 56, compounding time #1

Current principal is $10339245.00

Interest earned on $10339245.00 is $10339245.00 × 0.02 = 206784.89

This makes your new principal $10339245.00 + $206784.89 = **$10,546,030.00**

Year 57, compounding time #1

Current principal is $10546030.00

Interest earned on $10546030.00 is $10546030.00 × 0.02 = 210920.59

This makes your new principal $10546030.00 + $210920.59 = **$10,756,951.00**

Year 58, compounding time #1

Current principal is $10756951.00

Interest earned on $10756951.00 is $10756951.00 × 0.02 = 215139.02

This makes your new principal $10756951.00 + $215139.02 = **$10,972,090.00**

Year 59, compounding time #1

Current principal is $10972090.00

Interest earned on $10972090.00 is $10972090.00 × 0.02 = 219441.80

This makes your new principal $10972090.00 + $219441.80 = **$11,191,532.00**

Year 60, compounding time #1

Current principal is $11191532.00

Interest earned on $11191532.00 is $11191532.00 × 0.02 = 223830.64

This makes your new principal $11191532.00 + $223830.64 = **$11,415,363.00**

Year 61, compounding time #1

Current principal is $11415363.00

Interest earned on $11415363.00 is $11415363.00 × 0.02 = 228307.25

This makes your new principal $11415363.00 + $228307.25 = **$11,643,670.00**

Year 62, compounding time #1

Current principal is $11643670.00

Interest earned on $11643670.00 is $11643670.00 × 0.02 = 232873.39

This makes your new principal $11643670.00 + $232873.39 = **$11,876,543.00**

Year 63, compounding time #1

Current principal is $11876543.00

Interest earned on $11876543.00 is $11876543.00 × 0.02 = 237530.86

This makes your new principal $11876543.00 + $237530.86 = **$12,114,074.00**

Year 64, compounding time #1

Current principal is $12114074.00

Interest earned on $12114074.00 is $12114074.00 × 0.02 = 242281.47

This makes your new principal $12114074.00 + $242281.47 = **$12,356,355.00**

Year 65, compounding time #1

Current principal is $12356355.00

Interest earned on $12356355.00 is $12356355.00 × 0.02 = 247127.09

This makes your new principal $12356355.00 + $247127.09 = **$12,603,482.00**

Year 66, compounding time #1

Current principal is $12603482.00

Interest earned on $12603482.00 is $12603482.00 × 0.02 = 252069.64

This makes your new principal $12603482.00 + $252069.64 = **$12,855,552.00**

Year 67, compounding time #1

Current principal is $12855552.00

Interest earned on $12855552.00 is $12855552.00 × 0.02 = 257111.03

This makes your new principal $12855552.00 + $257111.03 = **$13,112,663.00**

Year 68, compounding time #1

Current principal is $13112663.00

Interest earned on $13112663.00 is $13112663.00 × 0.02 = 262253.25

This makes your new principal $13112663.00 + $262253.25 = **$13,374,916.00**

Year 69, compounding time #1

Current principal is $13374916.00

Interest earned on $13374916.00 is $13374916.00 × 0.02 = 267498.31

This makes your new principal $13374916.00 + $267498.31 = **$13,642,414.00**

Year 70, compounding time #1

Current principal is $13642414.00

Interest earned on $13642414.00 is $13642414.00 × 0.02 = 272848.28

This makes your new principal $13642414.00 + $272848.28 = **$13,915,262.00**

Year 71, compounding time #1

Current principal is $13915262.00

Interest earned on $13915262.00 is $13915262.00 × 0.02 = 278305.22

This makes your new principal $13915262.00 + $278305.22 = **$14,193,567.00**

Year 72, compounding time #1

Current principal is $14193567.00

Interest earned on $14193567.00 is $14193567.00 × 0.02 = 283871.34

This makes your new principal $14193567.00 + $283871.34 = **$14,477,438.00**

Year 73, compounding time #1

Current principal is $14477438.00

Interest earned on $14477438.00 is $14477438.00 × 0.02 = 289548.75

This makes your new principal $14477438.00 + $289548.75 = **$14,766,987.00**

Year 74, compounding time #1

Current principal is $14766987.00

Interest earned on $14766987.00 is $14766987.00 × 0.02 = 295339.72

This makes your new principal $14766987.00 + $295339.72 = **$15,062,327.00**

Year 75, compounding time #1

Current principal is $15062327.00

Interest earned on $15062327.00 is $15062327.00 × 0.02 = 301246.53

This makes your new principal $15062327.00 + $301246.53 = **$15,363,574.00**

Year 76, compounding time #1

Current principal is $15363574.00

Interest earned on $15363574.00 is $15363574.00 × 0.02 = 307271.47

This makes your new principal $15363574.00 + $307271.47 = **$15,670,845.00**

Year 77, compounding time #1

Current principal is $15670845.00

Interest earned on $15670845.00 is $15670845.00 × 0.02 = 313416.91

This makes your new principal $15670845.00 + $313416.91 = **$15,984,262.00**

Year 78, compounding time #1

Current principal is $15984262.00

Interest earned on $15984262.00 is $15984262.00 × 0.02 = 319685.22

This makes your new principal $15984262.00 + $319685.22 = **$16,303,947.00**

Year 79, compounding time #1

Current principal is $16303947.00

Interest earned on $16303947.00 is $16303947.00 × 0.02 = 326078.94

This makes your new principal $16303947.00 + $326078.94 = **$16,630,026.00**

Year 80, compounding time #1

Current principal is $16630026.00

Interest earned on $16630026.00 is $16630026.00 × 0.02 = 332600.50

This makes your new principal $16630026.00 + $332600.50 = **$16,962,626.00**

Year 81, compounding time #1

Current principal is $16962626.00

Interest earned on $16962626.00 is $16962626.00 × 0.02 = 339252.50

This makes your new principal $16962626.00 + $339252.50 = **$17,301,878.00**

Year 82, compounding time #1

Current principal is $17301878.00

Interest earned on $17301878.00 is $17301878.00 × 0.02 = 346037.56

This makes your new principal $17301878.00 + $346037.56 = **$17,647,916.00**

Year 83, compounding time #1

Current principal is $17647916.00

Interest earned on $17647916.00 is $17647916.00 × 0.02 = 352958.31

This makes your new principal $17647916.00 + $352958.31 = **$18,000,874.00**

Year 84, compounding time #1

Current principal is $18000874.00

Interest earned on $18000874.00 is $18000874.00 × 0.02 = 360017.47

This makes your new principal $18000874.00 + $360017.47 = **$18,360,892.00**

Year 85, compounding time #1

Current principal is $18360892.00

Interest earned on $18360892.00 is $18360892.00 × 0.02 = 367217.84

This makes your new principal $18360892.00 + $367217.84 = **$18,728,110.00**

Year 86, compounding time #1

Current principal is $18728110.00

Interest earned on $18728110.00 is $18728110.00 × 0.02 = 374562.19

This makes your new principal $18728110.00 + $374562.19 = **$19,102,672.00**

Year 87, compounding time #1

Current principal is $19102672.00

Interest earned on $19102672.00 is $19102672.00 × 0.02 = 382053.44

This makes your new principal $19102672.00 + $382053.44 = **$19,484,726.00**

Year 88, compounding time #1

Current principal is $19484726.00

Interest earned on $19484726.00 is $19484726.00 × 0.02 = 389694.50

This makes your new principal $19484726.00 + $389694.50 = **$19,874,420.00**

Year 89, compounding time #1

Current principal is $19874420.00

Interest earned on $19874420.00 is $19874420.00 × 0.02 = 397488.41

This makes your new principal $19874420.00 + $397488.41 = **$20,271,908.00**

Year 90, compounding time #1

Current principal is $20271908.00

Interest earned on $20271908.00 is $20271908.00 × 0.02 = 405438.16

This makes your new principal $20271908.00 + $405438.16 = **$20,677,346.00**

Year 91, compounding time #1

Current principal is $20677346.00

Interest earned on $20677346.00 is $20677346.00 × 0.02 = 413546.91

This makes your new principal $20677346.00 + $413546.91 = **$21,090,892.00**

Year 92, compounding time #1

Current principal is $21090892.00

Interest earned on $21090892.00 is $21090892.00 × 0.02 = 421817.84

This makes your new principal $21090892.00 + $421817.84 = **$21,512,710.00**

Year 93, compounding time #1

Current principal is $21512710.00

Interest earned on $21512710.00 is $21512710.00 × 0.02 = 430254.19

This makes your new principal $21512710.00 + $430254.19 = **$21,942,964.00**

Year 94, compounding time #1

Current principal is $21942964.00

Interest earned on $21942964.00 is $21942964.00 × 0.02 = 438859.28

This makes your new principal $21942964.00 + $438859.28 = **$22,381,824.00**

Year 95, compounding time #1

Current principal is $22381824.00

Interest earned on $22381824.00 is $22381824.00 × 0.02 = 447636.47

This makes your new principal $22381824.00 + $447636.47 = **$22,829,460.00**

Year 96, compounding time #1

Current principal is $22829460.00

Interest earned on $22829460.00 is $22829460.00 × 0.02 = 456589.19

This makes your new principal $22829460.00 + $456589.19 = **$23,286,050.00**

Year 97, compounding time #1

Current principal is $23286050.00

Interest earned on $23286050.00 is $23286050.00 × 0.02 = 465721.00

This makes your new principal $23286050.00 + $465721.00 = **$23,751,772.00**

Year 98, compounding time #1

Current principal is $23751772.00

Interest earned on $23751772.00 is $23751772.00 × 0.02 = 475035.44

This makes your new principal $23751772.00 + $475035.44 = **$24,226,808.00**

Year 99, compounding time #1

Current principal is $24226808.00

Interest earned on $24226808.00 is $24226808.00 × 0.02 = 484536.16

This makes your new principal $24226808.00 + $484536.16 = **$24,711,344.00**

Year 100, compounding time #1

Current principal is $24711344.00

Interest earned on $24711344.00 is $24711344.00 × 0.02 = 494226.88

This makes your new principal $24711344.00 + $494226.88 = **$25,205,570.00**

Year 101, compounding time #1

Current principal is $25205570.00

Interest earned on $25205570.00 is $25205570.00 × 0.02 = 504111.38

This makes your new principal $25205570.00 + $504111.38 = **$25,709,682.00**

Year 102, compounding time #1

Current principal is $25709682.00

Interest earned on $25709682.00 is $25709682.00 × 0.02 = 514193.62

This makes your new principal $25709682.00 + $514193.62 = **$26,223,876.00**

Year 103, compounding time #1

Current principal is $26223876.00

Interest earned on $26223876.00 is $26223876.00 × 0.02 = 524477.50

This makes your new principal $26223876.00 + $524477.50 = **$26,748,354.00**

Year 104, compounding time #1

Current principal is $26748354.00

Interest earned on $26748354.00 is $26748354.00 × 0.02 = 534967.06

This makes your new principal $26748354.00 + $534967.06 = **$27,283,322.00**

Year 105, compounding time #1

Current principal is $27283322.00

Interest earned on $27283322.00 is $27283322.00 × 0.02 = 545666.44

This makes your new principal $27283322.00 + $545666.44 = **$27,828,988.00**

Year 106, compounding time #1

Current principal is $27828988.00

Interest earned on $27828988.00 is $27828988.00 × 0.02 = 556579.75

This makes your new principal $27828988.00 + $556579.75 = **$28,385,568.00**

Year 107, compounding time #1

Current principal is $28385568.00

Interest earned on $28385568.00 is $28385568.00 × 0.02 = 567711.38

This makes your new principal $28385568.00 + $567711.38 = **$28,953,280.00**

Year 108, compounding time #1

Current principal is $28953280.00

Interest earned on $28953280.00 is $28953280.00 × 0.02 = 579065.56

This makes your new principal $28953280.00 + $579065.56 = **$29,532,346.00**

Year 109, compounding time #1

Current principal is $29532346.00

Interest earned on $29532346.00 is $29532346.00 × 0.02 = 590646.94

This makes your new principal $29532346.00 + $590646.94 = **$30,122,992.00**

Year 110, compounding time #1

Current principal is $30122992.00

Interest earned on $30122992.00 is $30122992.00 × 0.02 = 602459.81

This makes your new principal $30122992.00 + $602459.81 = **$30,725,452.00**

Year 111, compounding time #1

Current principal is $30725452.00

Interest earned on $30725452.00 is $30725452.00 × 0.02 = 614509.00

This makes your new principal $30725452.00 + $614509.00 = **$31,339,960.00**

Year 112, compounding time #1

Current principal is $31339960.00

Interest earned on $31339960.00 is $31339960.00 × 0.02 = 626799.19

This makes your new principal $31339960.00 + $626799.19 = **$31,966,760.00**

Year 113, compounding time #1

Current principal is $31966760.00

Interest earned on $31966760.00 is $31966760.00 × 0.02 = 639335.19

This makes your new principal $31966760.00 + $639335.19 = **$32,606,096.00**

Year 114, compounding time #1

Current principal is $32606096.00

Interest earned on $32606096.00 is $32606096.00 × 0.02 = 652121.88

This makes your new principal $32606096.00 + $652121.88 = **$33,258,218.00**

Year 115, compounding time #1

Current principal is $33258218.00

Interest earned on $33258218.00 is $33258218.00 × 0.02 = 665164.38

This makes your new principal $33258218.00 + $665164.38 = **$33,923,384.00**

Year 116, compounding time #1

Current principal is $33923384.00

Interest earned on $33923384.00 is $33923384.00 × 0.02 = 678467.69

This makes your new principal $33923384.00 + $678467.69 = **$34,601,852.00**

Year 117, compounding time #1

Current principal is $34601852.00

Interest earned on $34601852.00 is $34601852.00 × 0.02 = 692037.00

This makes your new principal $34601852.00 + $692037.00 = **$35,293,888.00**

Year 118, compounding time #1

Current principal is $35293888.00

Interest earned on $35293888.00 is $35293888.00 × 0.02 = 705877.75

This makes your new principal $35293888.00 + $705877.75 = **$35,999,764.00**

Year 119, compounding time #1

Current principal is $35999764.00

Interest earned on $35999764.00 is $35999764.00 × 0.02 = 719995.25

This makes your new principal $35999764.00 + $719995.25 = **$36,719,760.00**

Year 120, compounding time #1

Current principal is $36719760.00

Interest earned on $36719760.00 is $36719760.00 × 0.02 = 734395.19

This makes your new principal $36719760.00 + $734395.19 = **$37,454,156.00**

Year 121, compounding time #1

Current principal is $37454156.00

Interest earned on $37454156.00 is $37454156.00 × 0.02 = 749083.12

This makes your new principal $37454156.00 + $749083.12 = **$38,203,240.00**

Year 122, compounding time #1

Current principal is $38203240.00

Interest earned on $38203240.00 is $38203240.00 × 0.02 = 764064.81

This makes your new principal $38203240.00 + $764064.81 = **$38,967,304.00**

Year 123, compounding time #1

Current principal is $38967304.00

Interest earned on $38967304.00 is $38967304.00 × 0.02 = 779346.06

This makes your new principal $38967304.00 + $779346.06 = **$39,746,652.00**

For those who doubt that my math is sound but who suffer from a form of dyscalcula (from mild to severe), I located a compound interest calculator on the Royal Bank of Canada website. Just click HERE and you can input any number up to $999,999 CDN at an estimated rate of between 2% and 20% for anywhere between 1 to 99 years.

In other words, choosing 2% interest compounded once a year over the past 123 years was a conservative (pardon the pun) interest rate to choose.

At any rate, the amount of money “*at the credit of the various Indian bands and of individual Indians, for whom the Government hold moneys in trust*” in 1890 should have grown to at least almost **$40 MILLION** as of June 30, 2013.

With the additional monies that have been deposited into various trust accounts “*at the credit of various Indian bands and of individual Indians*” over the years, it becomes easier and easier to understand that the total amount of all those trust funds could easily add up to billions of dollars. After all, inflation rates and years when the interest was much higher than the 2% used to calculate weren’t taken into account, and neither were additional deposits made to those accounts thanks to various business agreements, leases, et al.

Is it so difficult to believe that with money like that in the bank, that First Nations peoples aren’t paying their own bills? Do the math. Talk to your financial adviser. See your bank manager. Present them with this scenario and ask them if it’s more likely than not that almost **$3.5 MILLION** can become almost **$40 MILLION** at 2% interest compounded annually over 123 years.

Elyse Bruce