The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1863-10-14
Legal Tenders-HOpe in the Future.

5o"S 'ian VINO nau obtained q party ap-
pom ment as a Colonial Judge, in the re-
spect TO the duties 10 be discharged, told
hIm to make decisions TO the best oi his
understanding, and he would probably be
near right 'Bn'," said he, "beware OF
giving reasons for yonr Judgements y
False reasoning from misunderstood pre-
misses will rain you.n The soundness OF
this advice has been powerfully illustrated
in the decisions reported of the six Judges
ofthe Conrs OF Appes, who have pronounc
ed in favor of ''legal tender paper" The
results are law as far as the State of New
York goes; but the reasoning of those
whom The Tribune with emphatic sneer
calls " elected" Judges, although that paper
was one of The most ardent supporters OF
that clause of the new Constitution is such
as 10 convince every clear headed man that
the legal tender cannot stand in the United
States Courts The best powers of six
judges, of the Court OF Appeals in trying TO
sustain Congress in the assumption have
only demonstrated that the measure is IN
defensible. Hopes are thus awakened that
Mr.. Chase and his whole scheme OF pa per
will yet pc cast off from the shoulders of
long suffering people. The Judges have
amid wilderness of words, claimed :he.
right OF Congress 10 issue paper money and
make it legal tender, becanse, although no
powers were grsnts do so by the
Constitution, that instfdshehi prohibited the
States from doing so. This is singular
mode of reasoning, bni it was the only one
left to those who were first determined to
have the power, and then look up snahaEiiy
for it. That no better aulhofity con- Be,
procured by all that array OF legal tai ),
proves conclusivey that no authority exists.
The Constitution contains the following
clause:
"The powers not delegated TO the United
States by The Constitution, nor prohibited.
by ii TO the States, are reserued to the States
respectively, or TO the people"
This provision is very clear and exclu-
des The right Of Congress to issue paper
money or TO make anything a legal tender.
This latter fact is one generally overlooked
and has been so entirely by The Court of
Appeals; but we shall demonstrate it. The
following are clauses from the Constitu-
ton:
''Congress shall have power TO borrow
money on the credit of the United States"
"To coin oney, 10 regulate the value
thereof, and of foreign coin."
"fo provide for the punishment Of coun-
terfei;ing the securities and current com of
the United States"
No State shall coin money, emit bills of
credit or make anything but gold and silver
a tender in payment o! debts"
"Nor shall any person be deprived Of
life, liberty OF property without due process
ofawn
Now the first power conferred upon Con-
gress was the exclusive one of 'tcoinns
money! ano,LeI clanse forbade the States
TO Go so. The coin in the country at that
time was mostly Spanish coin, bnl more or
less coins of all nations, of different values
II was requisite for Congress to fix nation.
al coin and adjust The value of all those
foreign coins in relation to it. To coin
it was requisite 10 have the martial.
This was supplied by merchants who i'm
ported The metals, took them TO the mini.
and Congress had them coined for the mer-
chants, Congress was required 10 regulate
The value of the coined money, and it did
forty eight grains OF pure silver coined
should be called ga dollar" or two hundred
and thiriy-;wo grains of pure gold should
be Gan eagle" or len dollars. There the
functions of Congress ended, but il reguIa-
ted the value OF the foreign coins in accor-
dance with these new coins. The mer-
chants bronght The metals into the country
and Congress coined them and regulated
their value But Congress never made any.
hing legal tender. The Sales were 10
make these United States coins, or any for
eign coins, legal tender, providing they
were all gold and silver. They could not
make copper or brass or leather or paper
Or anything else legal tender, only gold
and silver. Up TO The passage of the paper
money bill by the Republicans the Federal
Government never made legal tender.
The money OF the country, the coins,
being thus provided, Congress was empow-
cred ITO borrow money" on the credit of
The Government. The States were forbid
ien TO issue paper money, "eml bills OF
credit" ard q degree was introduced into
convention 10 authorize Congress 10 t'ernil
rr-I.
says Mr.. Madison, Ito cut off all pre;ext for
issuing paper money" Thus the power to
issue paper was forbidden to the States and,
as deliberately, refused TO the Federal Gov
snment.
The right to do it is, however. claimed as
The right to borrow money. Under this
right Congress authori zed in 1861 fifty mill
lion of paper money payable on their face
nm demand in uold and silver Mr. Cb,so