Wyoming democrat. [volume] (Tunkhannock, Wyoming Co., Pa.) 1867-1940, 1867-08-28
Judge sharswood and Legal Tenders.


Some of "the little creatures" whom
Greeley says "an inscrutable Providenc,
permits to edit some of the minor RepLb
lican journals" have undertaken to max,
little capital for their bankrupt organi
cation out of decision once rendered b.
Judge Sherwood, which they attempt t
torture into declaration that greenback
are unconstitutional and not a legal ten
der for debts.
The facts Of the case are simply ant
briefly these: A man held a ground rem
mortgage, given in 1892, in which it wa
stipulated that the annual rent should b,
paid in Spanish mitLed dollars by peight
After the passage of the law making green
backs legal tender for debt, the holder
of the ground.rent mortgage agreed to ex
tinguish the mortgage for consideration
and the purchaser, (the owner of the
ground) rendered both the principal ant
interest in greenbacks. The holder agreed
to accept greeubacks for the principal, but
insisted that the contract demanded the
payment of Spanish milled dollars for the
interest. The other party maintained
that the greenback law made greenback:
legal tender for all debts, whether con-
tracted since the act was passed or before
The case was taken into court and judge
Shsrswood decided that the interest upon
the ground rent mortgage of 1892 would
have to be paid according to the demands
of the contract.
With their usual unfairness, the Radical
journals decline to publish this opinion in
full, but confne their attacks to inuen-
does. Ifthev did publish it, we venture
the opinion that the soundness of that de-
cision would be endorsed by every intelli.
gent man of their party. In fact promi-
nent Republicans declare that that decision
would be the very best eleetioneering doc.
ument the friends of Judge Sharswood
could use. 1t is not true that opinion pre-.
tended to vitiate greenbacks as legal
tender for debts contracted since the en-
actment Of the national currency law, nor
in any case of indebtedness contracted
prior to the passage of that law, except in
cases where a snecial contract stipulated
that payment should be made in certain
prescribed manner,
1.-THE Radicals Of Pennsylvania desire
to make this an issue in the coming Judi.
cial contest in this State, the friends OF
Judge Sharswood will have no objection.
Let US see how 1t will work. The United
States Government has agreed to pay Ger.
tain of its bonds in coin. Judge Shars
wood says it must abide by its obligations.
This is the essence Of the contract, and il
must be performed to the letter. The
Radicals say the doctrine is reasonable
They assert that an individual can dis
charge his indebtedness by Offering to pay
in currency, when he has promised to pay
in coin; and why cannot the Government
do this as well as an individual. They
tried this game, two years ago, in regard
to the State debt. The faith of our State
stood solemnly pledged that the interes,
on certain bonds should be paid in coin.
The pledge was deliberately violated and
the interest paid in paper money. Sc
may the pledge of the national Govern
ment be violated, if the Radicals find i,
convenient to do so; and under Radical
law the bondholder will have no redress
in the courts, What do the holders Of
national securities say to thisl Are they
willing to endorse the doctrine that ar
agreement to pay certain sum in cola
or "Spanish nailed dollars" may be can
celed by the tender of paper currency q
If they do, let them vote for Henry W
Williams, and submit to discount of ST.
80 on the interest of their bonds, at the
hands of the Radical Party.
The Radicals denounce this decision a:
stab at the credit of the nation. fifth.
be SO, the Radical leaders are responsible
for the frs. stab themselves, for they have
set the first example of reputation o.
their own currency, by declaring that i
would not be acknowledged as a legal
tender in payment of interest upon Ger
tain OF its bonds The principles ofJudg,
Sharswood's decision will keep the nation
al faith invlolate with the nations bond
holders, and will maintain the nationa
credit. 1t simply endorses that plair
principle of common honesty, upon which
rests the credit Of the whole business
world-ihat man shall do what he agree
to do, and shall not he released by the
law upon doing less than he has promised
70 do. 1t simply declares that man who
has agreed to paw one hundred dollars il
gold, shall not have fulfilled bis contrac
by payment of one hundred dollars in pa
per, which is only worth sinty-one dollar
in gold. This is what Judge Sharswood'
decision means and We are willing to &C
cept the issue in all its length and breadth
-Greensburg Republican l. Democrat.