The Lancaster ledger. [volume] (Lancaster, S.C.) 1852-1905, 1866-11-14
"9reenbacks,' or the Pound of Flesh
Which

We regrci to see some disposition man
ifes,ed not to receive United States cur
rencv at par for existing liabilities. At
time like this, when money is 50 scarce,
and the country depressed by u failure Of
crops and Other causes, Greeubacks ought
TO be received readily by creditors as n
basis Of compromise with their debtors.
To talk of relief 6y stay laws, or scaling
OF debts by legal measures, is mere
waste Of time--a fact Of which the peo
pie are now pretty thoroughly convinced,
but great deal Of relief may, and ought
to be extended, through a willingness on
the part of creditors to offer liberal terms
OF settlement. There are doubtless some
exceptions, but the cases are rare, where
greenbacks at par would not be fair and
equitable satisfaction Of any existing liza
blity. Not to receive it is evidence Of
grasping and nncompromisng spirit; and
il generally followed, would, in effect, add
almost fifty per cent. to the indebtedness
OF the country. Creditors ought to re
receive it without hesitation and If any
will not, they should be DELAYED, and 9th,
ers, more liberal and indulCent, preferred.
Where there are judgments and execu.
lions, preferences are not practicable; but
where the Sheriff, in obedience 10 orders
from graspjug Shylock, collects his judg :
ment debt in gold and silver, he does so
at his peril; for it is by no means a set
tied question that u. S. currency is not
what it purports to be-a legal tender for
the payment Of debts.
The only decision which we have ir
this State is adverse to the legal teDder
law, and it is generally believed that the
Court Of appeals viii Sustain the Circuit
decision. But even in the latter event,
tie point is not then settled, as some sup.
pose. The decision of the highest Trihn
nal in the State, affecting Il law Of Con
gress, If made against the la,O, is not con,
clrsive Of the question, even within the
limits Of South Carolina.
The Supreme Court Of the United
States has appellate jurisdiction, in Ger
tain cases. over final decisions in State
Courts. II the decision is against the
const.utionaIitv Of law OF Congress,
there is an appeal, hy writ of Error, to
the Supreme Court Of tho United States,
as the appellate Court OF the las, resort.
Judiciary Acts 1889, Sec. XIV, Kert
Com. vol. l, 3l3 -32l. Williams Us.
Norris IL Wheaton III.
In view Of what is clearly the public
policy OF the country, with faiI show of
constitutional argument on the same side
1t is more than probable that this Gues
ton will ultimately be decided in favor Of
the law Of Congress. We repeat, there
fore, that the executive officer who under
takes 10 decide in advance that law Of
Congress is null and 7oid, and acts ac
cordiagly, does so at his peril. Il safer
course would Be to assume that the law
is constitutional uutirit is declared olher-
wise by the constituted authorities.
Ii the currency is generally received in
payment Of debis, i! will not only be
public convenience, but will be one means
of relieving the country OF its present EN-
barrassed and depressed condition; q
contrary course will lead 10 great annoy
snce, distress and ceaseless litigation.