Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1867-01-30
VOLUME XXXH.--Ko. 8.
"Greenbacks,".-or the Pound OF
Flesh..WhiCh =?

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We cordially endorse the following excel
lent and sensible article from our esteemed
contemporary the Lancaster Ledger"
! We regret to see some disposition manifested
not to receive United States currency at par
for existing liabilities. at time like this,
when money is SO scarce, and the country de-
pressed By failure of crops and other causes,
Greenbacks ought to be received readily by
creditors as basis of compromise with their
deb ors. To talk of relief by stay laws,
or scaling of debts by legal measure, iss
mere wa tie oftime- fact ofwhich the peope
are now pretty thoroughly convinced, but a
great relief may, and ought to be extended,
through 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 o fair and equitable satisfaction of any
existing liability. Not to receise it is evidence
of graspins and uncompromising spirit;
and ifgenerally followed, would, in effect, add
almost fifty per cent. to the Indebtedness of
the country. Creditors ought to receive it
without hesitation aud if any will not, they
should be delayed, and Others, more liberal
and indulgent, preferred.
Where there are judgments and ezecu-
tions; preferences are not practicable, but
where the Sheriff. in obedience to orders
from a graspiug Shylock, collects his juag-
ment debt in gold and silver, he does so ct
his peril; fer it is by no meansa settled qucs-
ton that Z. S. currency is not what it prr.
ports to be-a legal tender for the payment
of debts.
The only decision which 1c have in this
State is adverse to the legal tender law, and
it issgencrally believed that the Court of APP.
peals will sustain the Circuit decision. But
even in the latter event, the point is not then
settled; a.s some suppose. The decision Of
the highest Tribunal in the State, affecting :.
law of Congress, # made against tie lac, is
not conclusive of tho question, even within
the limits of South Carolina.
The Supreme Coart OF the United States
has appellate jurisdiction in certain cases,
over tinal decisions in State Courts. If TIE
decision is against :he constitltional;ty of o
law of Congress, there is an appeal, by writ
of Error, to the Supreme Court of the United
States, as the appellate Court Of the last re-
sort. Judiciary Acts 1889, Sec. NV, Kent
Com. vol. l, 3l3-G2l. Williams rs. Norris
II Wheaton, III.
In view of what is clearly the public policy
of the country, with a fair show Of constitu-
tionil argument on the same side, it is mere
than probable that this question will ultimate.
ly be decided in favor of the law If Congress-
We rereat, therefore, that the executive officer
who undertakes to decide in advance tLata
law of Congress is null aad void, and ac!s
accordingly, does SO at his peril; A safer
course would be to assume that fhe law IS
constitutional until it is declared otherwise
BY the constituted authorities.
If the currency is generally received in
payment of debts, it will no. only be public
CO ,venience, but will be one means of relicv.
ing the country Of its present. embarrassed
condition; contrary course will lead4o great
annoyance, distress and ceaseless litigation.