The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-12-17

There is considerable feverishness in the
public mind just now in regard to the decision
likely to be made by the United States Supreme
Court upon the momentous question Of the
onstitutionality of the Legal Tender act. The
opinions Of the lower courts have been gene.
rally favorable to the legality of the act, anc
this fact is considered to be to q certain extent
hopeful for nm affirmative decision by the Su-
preme Court yet in case OF such magni'
tude and affecting such wide interests, there is
naturally much anxiety in view OF q possible
decision against the power OF Congress, and
much speculation as to what the results o.
such decision will be.
The New York Tribune editori lily says:
We are confidently advised from Washing
ton that The Supreme Court IS pretty cerlam
10 ad,udge The LegU Tender act u1constt-
|LultoHaL. We are told that there vii
probably be but one dissenter from the
courts Judgment. We give this precisely
as it reaches us-as report merely. The
subject is one Of such pervadlng interest that
We have not deemed it best to await the ap-
pearance OF the judgment, which will soon be
rend red
Tho Washington correspondent Of the Tri,
bune says:
The decision Of the Supreme Court in
! the case now beforo that body involving
tho constitutienality of the LIE 5al Tender act,
ia looked forward to with great anxiety.
Many of the most prominent men here cxeress
orcat doubt as to what the decision will be.
! The court has not nat in consultation yot, but
it is expected to do SO during the present
week. After a division is had, several weeks
will be consumed IN the preparation OF the
opinions. 1t is limited that Justices Chase,
Srayne, Miller, Davis, and Field will vote to
sustain the consti .utionallty of tho act, and
that Chief Justice Chase will write the major
ity opinion. This is one rumor. The one
| that GAINS most ground. h.wever, is that The
court will decide the law TO be uncolstitu-
| tional, and that Judge Chase will be alone III
his dissent. The effect Of such q dsclslon
would be universal. Gold woull be the me-
dunn of contracts and business, and green
backs would be qaotod at their value, Just a.,
| they are quoted Ill Calliorhla 'ihu LoH''oi "'
| the present time.
The New York Post says
There is no reason for such alarm as
some express. Ii tho court finds that Con-
cross has no constitutional power to pass
lho act, thon the act is void from the
BEGINNING. Grecnbacks arc not now anu
have not at any time been il law legal
tender for tho payment OF debts public or prl-
| yate. Any man agreeing 10 pay doillrS IL
bound in law to pay coined gold. But contracts
made since the legal tender rotes became the the
money of account by the cnstom OF trade, will
be held by the courts to be bound by that Gus
TOM. CONTRACTS made since the publication OF
tbe Legal L udar ac5 as law and in Wow OF that
a,t. viii be held to refer to that act and to in
clule it so that the legal tender clause vii
control them, not as law, but as part OF the
contract. Sch 4 decision, therefore, II made
| Grx lnc0nntS
and ruin all debtors, as some people imagine
II will not even uusettle again contracts which
made in specie times, have been settled undel
The Legal Tender act. But old debts, contract
ed before 1861, will no longer be payable II
anything but gold coin. New contracts mad!
after The decision will be payable in suct
J money as may be agreed upon By the parties