New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-10-10

fascinating considerations Of the pcolHilry means
pod and the tire Of payment Of the 'r prneOai~
The last Of which circumstances must vary every
doy by Che elux Of time. The vaIre Of foreign cois
this could refer to securities executed in foreign
countries Then In the clnuse referring 20 the nun.
iah3ent Q: couniertins sharp distinction is appar
the United States and in tie clause pro.bitory Of tie
power of the States it ia forbidden 70 them
70 coin money and TO emit bills OF credit plainly shows
TINT these are separate and distinct Gets; and in the
same sentence where the prohibition is inserted against
making anything hu. tie precious metal atender,
called gold ard silver COIN the se,ermnation % the
case depended upon the meaning Of the express power
70 coin money should not. as hcye mentic2ed. be
able to enern the srnac. doubt bnt that It does NOT
embrace The obligation CT tie Geneiai UoVeInmeutm
whatever form they nay be issued.
Let MS then consider whether TIC power TO make
these notes lcgsl tender results from any q the e1'
press powers coo lred Congress. Among the atrl'
bues expressly conferred is tic very extensive powe,
10 reguiac con erce; end the enactment OF the ega!
tender provision has sometimes betn referred 70 tnes
clause But it has 10 be ring upon te transactions 0.
citizens which arc limited to single State the power
relating only 10 commerce with foreign nations. nnd
among the several States and with the Indian trbes
interstate COMMERCE. o. to be in any sense regulation
OF thai. subject 1t compcls the citizens in all places
md at FL times and under I'll ciTeumetances to receive
tie Treasury notes IN payment Of debts whether these
debts lad any connection with commercial transaeton
or we're wholly foreign tn ond independent Of 1t.
Whether tie measure introducing tho Treasury notes
,
tbor reception as money wien offered in connection
with transactions OF Il at nature coad % sustained VIII
probably depend upon gone considerations TO which
n nav be said that any measure which tends to pro-
note internal InIc and facilitate domestic exchanges
would incidentally increase foreign commerce.. tle
same NAV b. said respecting the wLOle Ject OF pli
yate exchanges and contracts But oenDrace al tnese
subjects within tie power TO regulate commerce WouiI
be T. break down ell distinctions between .e NIt9na,
and State Goyernneats ond commit tie Nlolc suuecs
O. internal govei 70 tee discretion o congress-
IooDcede that it is not ilelmbent upon those VINO
argue for tie validity tue legal tender cause 70
any one express power ard to maintain that the proVis
ion is legitimate execution oil tlat power lney NY
group together cry number 81 these grants ..
that provision is fairly dcduceable from any or al OF
them-their position is established. The power
20 raise money, for prosecuting ana MAINTAIN.
ing public force by land and by sea- TO pay the prbuo
debts. and indeed nearly all Of tie ennneIated powers
require least support the necessity OF the OBTAIN
ms possessing, managing and dsonislns no1eys
ar &c and indefinite amount. No Idea ccn be ,ofned OF
tie Government OF eIea: country though the power
OF legislation Should be restricted 70 external AFFAIR."
which would not rcgare such GcyeTnElcnt TO os an I'M.
roI 90 dealer in money and COMMODITIES 81 almost every
Lnd Tie strong pGb.c necessity ioT obtaining pccu-
naTy means to cary on re uoSef,s ala l,s.5sS
hove not been and ca1los be Orers.a.ed whether we
Advert 20 the imminent isis which Is ms day upon Us
OF consider II IN is nsu~i cDht.Io. VI -. ~ ia
GUILTY. 1t quite appropriate 70 aoyet 70 .ne pr
ept condition Of tic county 10 shoS that Tie necessity
for obtaining funds may be 80 sudden Luctratihg.
and fuqsWOlic that tie Ilulc AceS. VII hDs "e uP'e
tie regular receipts Of reseAue, Vlc n1s.
be met by eItfa0 d!nGig o2et!ois anu In
sacrifices upon tie public anu lhohls.e c-il .Lo
Constitution furnishes The nes sue u We Satiol 90
INV in war es IN poacr aad. judges, our dutes
are limited to the contraction Of thst instrument &C
corling to our best Judgment o. rs ae,aai lletnhs.
re Immediate question is. Therefore. as has gecn
stated whether tie various powers committed 70 Coz
ersss which require IL orceE 10 their due execution,
he acquisition aud use OF large anc e.ich haetuasi
amounts o. money. empower lie SltcAsi oo'eiLl.c..
10 annex to the l0es, which corccde Il mas reHs 20
issae quality which shall oo1pei inlF.4gs 10 8eee"e
them in payment Of debts against tier VIZ
IL Is Circumstance cDnnlctad S.th the pfoposrloh
torrh moi rnateria. 20 Le Wow which take that oy
the gemes Of the act the Eotes are rot payable IN
coin Tor the quality which makes them receivable "a
ali n,ic ard private debts authorizes the Government
~ edou Them in other OF the same kind. 50 that
;hey 10 constitute nea,um o. Ia nJ IL,
change which is 20 be quite distinct iioh eoa apa Ell
yor money aud not cOryorl.e mo ~ anu wn'Sn
thc wefnown laws oi oui;enc. wi tispaee ,le 1Ate'
fom circulation end vii cause II ~ ccpreca,e ~ eoi.
rarison with that standard IN proportion 10 The aonnts
which NAV be issued To io.ue thel upon tEe creoi.oI
as novuet contrary 20 tie general laws 81 te c.s'es
1 which do not authorize ue.,ois tnes ~ 80, 90
obligations 1. e. enter into tie domain o. INC state Leg
4 srre aad g. supeIsce 10 that ext. the opcsIon VI
the Satelaws This lot uecesSary atai ooieetion
s- Il the provision 1Ing the QIhAty OF e5r tencet
10 the notes Is uecessay aud proper law for carrying
into execution the power expressly conferred upon
gress and not forbidden BY an! pf, % ,e
fibuted 10 Federal legislation wnen CONSTITUTIONAL
all state laws and constitutions so ar as the exeenc!
b of the may require we ere 20 eons.ueI '.eS
. whether the provision in question y necessary ane
nroner 10 the execution Of the various enumerated
powers which require tie obtaining ana disoursenent
Of moneys for national purposes Ana we opSei,e IN sns
d,, rae that certain Moons are specifically provided
by tie Constitution for obtaining iul1S for puoue Oh
ccl Congress is empowered to levy ana eoeet taaes
duties mp0sis ard excuses TO an cxolt nn'tea ony
by tie public purposes 10 yhca moneys may DC applied
aud TO borrow money to the Ike cx. Ut on TIE crea' OF
) the UG.ied States
II addition these means II may dispose OF tne yer
,.f. v.ffh
course may receive the equiv aen Tor snen uisp'stoi
In money! DO not 20 this moment Inquire whether Tie
contraycned provision Is within any o. tssss s ~.
toned express powers namely those % taxatioh ano
borrowing but whether under the other deeShtlons Vi
authority which require for their execution Tue POS
session q pecrriarv means. II was couie'.n ". w
G1yernnen: 10 Obce tie citizen 90 accept tese notes
"a cash for the purpose % s4luig ny means u VIC
circulation which such quality wond sve t1en; az.
dtionl pecaniary resources Ter INC purposes =, VI.
4 Government, am Of O. nlon, that ths Would &c u,.,
too flr removed from tie cces,tcA 81 power 10 oe
con, iccfcd enactment framed Tor rs e1sNation.
o think moreover. tLat the CONSTITUTION Sld moi
concentrates and does not admit Of the raising Of moneys
e.cen 6v taxatsr OF BY borrowing Cr by the sale o. tho
public lands and properly. fecHriary mems Sap.u ..
the cicnlstion OF paper not hearing Interest," ao ",
profits Which bankers acquire by their business
i Il a well known pursuit N wLlcn ind,l"uas m! eh
gage hy Government license when that ls required py
. Law Grd without II len Il is not ctei by some ieg
recntrcmeGt. / think that. far as the immediate
On, s,ion is concerned the Government has an eius
rlht O. asho,zc the National l.caslry 10 emOarA ~
any other of tho parcGts OF bunesSby which money
ACQUIRED In tins OF m0Airs Vrohss by the local c.rcn
laon OF its notes under ths legal tender clause hencs
conclude that the disputed measure cannot DC asuhed
rs IN execution OF any OF tie pow acquiring The POS
session ~ sid authorizing tho expenditure OF moley
Then % the express power 10 borrow money on ths
credit of the United states which is pheipay ieatu
on TIE ordinary operation Of ehectDg p1oic loans is
sufficiently simple and obvious. ANA have already sad
that perceive valid objection TO ati"Hs,ns lac seeu'
4 NAV ,ake tho securities by Transfer shell be willing TO
- hold or circulate tholn instead Of Immediately present
Inc then, Tor redemption. The power TO borrow money
irnlics tie giving Of Obligations for Is repayment
The rm OF these IS matter Of convention between tho