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AUGUST 16, 2000

Cayuga Nation members defended a $1.7 billion figured calculated by Peter Temin, an economics professor from the Massachusetts Institute of Technology, saying the amount is due them for being denied rightful ownership of their land for 200 years.

Although the Cayuga have won their land claims case, they can no longer reclaim approximately 64,000 acres of land in New York State. So as part of the final phase of their case, US District Court Judge Neal McCurn has to decide on the final value of the land.

On Monday, Temin presented the $1.7 billion figure, based on the compounded annual interest of the risk-free rate of U.S. Treasury bills from 1795 to 2000. He applied the rate to $36.9 million a jury awarded the nation in February

Get the Story:
Cayugas seek $1.7B award in land case (The Albany Times-Union 8/15)

Relevant Links:
Peter Temin, Massachusetts Institute of Technology - web.mit.edu/ptemin/www

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