Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1864-10-10
Greenbacka and Taxes.

During the July term, the Supreme Court
rendered decision which appears to us to
have an important bearing on the matter Of
taxes as well as the legal tender question. 1t
was in the case of Milford vs.. Mayhem. The
latter was Sheriff of Alameda county. At a
sale of property-sold by the Sheriff under
xecution-Mulford purchased real estate to
the amount of $4,000, for which he paid
gold. Within the time required by law the
debtor, whose property had been sold, paid
over to the Sheriff the $l4 900 with interest,
all in greenbacks, for the purpose Of redeem
ing the property. Milford refused to receive
the notes, and brought suitagainSt the Sheriff
to compel him to give deed for the property.
The Court held that the tender of the United
States notes on the part Of the debtor was a
legal tender for the redemption of the prop
erty. The matter, we believe, is still IN Court
on a motion for rehearing.
Should the Court adhere to its original
opinion, it will be readily perceived that the
decision is bound to exercise an important
influence in the matter of taxes. Greenbacks
beinp legal tender for the redemption Of
property sold under execution, large real
estate owners, and small ones, too, for that
matter, will refuse to pay their taxes and will
allow their property to be sold for the pur-
nose of redeeming it with deprecated cur
rency, As at Sheriff's sales or sales OF prop
erty for delinquent taxes, the purchaser is
compelled to pay gold before he can receive
a certificate OF purchase, men will refuse to
purchase property with the knowledge that
the redemptioner can pay them deprecated
naner for their gold. The consequence will
10 that taxes on real estate will not be paid
at all unless they are paid in greenbacks.
We NAV be mistaken, but it strikes us
that the effects OF this decision will be in
most cases to virtually render nugatory the
Sneci6c Contract Law. A loans B a sum OF
money on specific contract to be paid IN gold,
secured by mortgage on real estate. he
sues, RECEIVERS Judgment, and the properly is
sold nerhaps to the creditor. c, another
creditor of B, comes forward under his rights
as a redemptioner and redeems the properly
paid for in gold by paying over green6acks.
Thus, under the operations OF the decision
in the case of milford VS.. Mayhem, the Spe,,
cifc Contract Law will be virtually rendered
nugatory, and taxes ON real estate, If PAID AT
all, will be paid in greenbacks. A great Por-
ton of the revenue being paid in greenbaeks,
it follows that State officers can receive their
salaries only in that kind of currency.
We have the singular spectacle presented
Of the Supreme Court, SO to speak, tying up
its own decisions. In one case it decides that
taxes must be paid in coin; in the other, it
decides that specific contracts for the pay
ment OF coin can be enforced up to the exc
catlon; in third case, il in effect nulihes
these decisions by deciding that q redemp-
uonef can redeem property sold for gold oy
paying over greenbacks. II this is not an
instance OF q Supreme Court tying up its
own decisions we do not know where one can
b fcuuo,-Savame1so Be-, h ,saas '54