The weekly union record., 1864-01-23

the individual is rot. The act now in question
Is & fagFAnt violation Of the laws Q. he United
States. Either the law Of Congress is uullity,
or the State law IS na.lity-if the act Of
Congress Is valid. tie State law IS invalid, and
unless the enemies oi the proposition 10 repeal
ii desire the uOeaviable reputation of South
Carolina, they viii 10. atiemp, 10 decide Or
discuss a question over which they have 70
control, aud which has sgain and again been
determined by the Judiciary adversely 10 them
The Legislature eannot 10 ;nGtreetiy teaaf II
eanna do directly.
WIN it be coutended that this State law is
not in coudc; with the law Of Congress? /
reply L is in direct couaict with it. 70, the
law Of Congress declares in clear ani emphatic
language that Treasury notes shall be legal
tender in all business transactions. and the
State law declares that they shall not, when
there is an express contract to pay in coin. II
the State Legislature ean make such gror's,oas
IA case Of an cypress contract. Il mag 60 one step
further ca.l declare that the creditor may collect
com also upon all implied controls, as BY the
custom Of the country II might be urged, Gnd
not lc.tdout reason, that IN all business traasac
tions there is an ,mplis,! promise TO pay in com
and it will be seen by reference to he statute
thatit does provide for the collection Of coin in
a certain class Of cases where there is no eX-
press contract. 1t has now to be extended
only very little to make il more complete
aud perfect notification law than South Caro-
lima dared to pass prior 10 the act Of secession.
My second objection Is so apparent to the mind
OF every one that lis discussion is wholly un-
necessary. Just SO far as it is placed in the
power OF any man by legislative enactment to
refuse to receive this kind of currency, precisely
to such extent will il limit aud prevent its
circulation.
Again, this Specific Contract law of 1868
runs through all the forms of law necessary to
its enforcement, carrying with ii under its pro
visions all the costs attendant upon It's enforce
meut, and in this it substantially admits persons
who are not parties to the contract to the en-
joyment Of It's fruits to the injury of the debtor.
1t also binds the purchaser aad all holding
equity of redemption. The latter are evils yet
10 be experienced but certain to follow in train
of this unwise legislation. The tendency of the
act proposed 10 be repealed is 10 prevent the
free circulation Of the National currency.
California in this act against the interest OF
the general government, stands alone-no other
State joins hands with her in legislative enact
ment decrying and depreciating that which,
through the necessities Of war, Government has
been obliged to stamp as money. Other States
aud people, by common consent, have declared
that it shall be received in payment OF all debts.
California. by solemn enactment, declares that
it shall only be received at the will Of her
citizens.
All citizens of California, and Of the nation,
whose patriotism have led them to the field Of
battle in their countrys cause, receive this
currency at par. In tie contract to fight our
co,mtry's foes Treasury notes are legal tender,
but here in California. where none of the real
miseries Of the war are felt the home, freside
patriots, in legislative council, have declared
that it shall not be the duty of those who are
not called upon to face death in the struggle
for national life, to sustain the government in
tins one of the agencies necessary 10 the crush
ing out Of the present monstrous rebellion.
California preteads to be loyal, yet she, through
ncr representatives in legislative council, lifts
her voice aud by solemn enactment has author
lied her citizens TO refuse to receive in payment
Of debts q currency inaugurated as necessary to
save and protect the life of great nation.
Such loyalty adopted by all of the States would
sink this nation beyond the possibility Of res
direction.
Again, by the provisions of The contract law,
a contract made payable in English soyereigns
or China coppers can be enforced-there is no
standard of value by which damages for non
performance can be measured or determined,
and in this it repudiates the very standard upon
which the currency OF the country is based.
These are among the reasons moving ME to
vote for the repeal Of that act-reasons sufiic-
lent, ia my Judgment to secure the passage Of
the bill now before the Senate.
I shall hope to be heard again during The
discussion of this question that may have the
opportunity of presenting my views upon the
other branch of this subiect-,hat Of ezpedi-
ency and financial policy.
SPEAKING Of Senator Conness, the San Jose
Mercury says;