American Indians and black farmers will be paid $4.6 billion to address claims of government mistreatment over many decades under landmark legislation President Barack Obama signed. The legislation “closes a long and unfortunate chapter in our history,” Obama said. “It’s finally time to make things right.”

At least 300,000 Native Americans say they were swindled out of royalties overseen by the Interior Department since 1887 for oil, gas, grazing and timber rights. The plaintiffs will share the settlement.

At a signing ceremony at the White House the president declared that approval of the long-delayed legislation “isn’t simply a matter of making amends, it’s about reaffirming our values on which this nation was founded: the principles of fairness and equality and opportunity.” Obama promised during his campaign to work toward resolving disputes over the government’s past discrimination against minorities.

The measure he signed settles a pair of long-standing class-action lawsuits. The measure also settles four long-standing disputes over Native American water rights in Arizona, New Mexico and Montana.