The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-08-29
INC Probable solution OF tho Green.
back Controversy.



From dc Nation, Au0lLt! 20.
Whileth country is agitated with
the discussion Of the "greenbaok
quesdon5N meaning thereby the ques-
ton of repudiation, no one appears 10
notice theimportant fact that another
ngreenback questions" vitality atectl9g
this controversy, and bearing directly
upon the business interests OF the
whole country, is now under consider
alton in the highest court In the lano,
and that within short time we may
hear of judicial decision which VIII
compel the Pendletops and Buffers 10
take their choice between the full pay
ment and the total reputation of the
public debt.@Yet this fact is well
known and althoughlthe judges have
said little or nothing there Is very little
doubt among 'those who know their
habit of mind as to what their decision
wall be. II is the firm conviction OF
every onewho has any means OF fore
seeing the result that the Supreme
Court will declare the Legal Tender
act unconstitutional. -. =
The reasons for such expectations
are obvious 10 any one, even slightly
familiar with law and politics. NO
judge of a Stare court, adhering TO the
Democratic party, has acknowl lodged
the validity of the act, while several
prominent Republican Judges have de-
MED il. tits manifest from the writ
ten opinions of those judges who affirm
ed the cOnstitutionality OF the statute
that they did SO under the pressure OF
a, supposed necessity, and that they
found great difficulty in reaching that
conclusion. The period of necessity
has passed. The real interest Of the
country plainly demands dlneIent'
decision, and In so FAR as the Judges
may be affected in feeling IL Is more
likely to lead them; to overthrow the
statute than TO Undue them With a de-
sire TO maintain il. There are eight.
judges, four of whom are unquestion-
ably allied 10 the Democratic party,
and two others are understood 70 nave
leaned towardit for some time past
We think there can be no doubt that
Messrs Nelson, GFier, Clifford and
Field believe the legal Tender act TO
be invalid; and 1t was matter CT COM
mon rumor at Washington last spring
that Chief Justice Chase WAS disposed
to take the same view. We think Judge
Davis will, and we should not be sur
prised II the court were unanimous.
1t is easy to see that such decision
would scatter the winds all the In
geniousl schemes that have been de-
Vised for pretending TO pay the pubic
debt without really paying any Off.
AS Congress is restrained from passing
laws impairing the obligation of con-
tracts the legal tender clause OF the act
OF 1862, IL declared unconstftutional at
al. must De QeLu sNOlu- d5 " IuIuE6 GOh-
tracts as we'll as in respect to past ones.
1t cannot fall on account of its retro
sepective operation, and must therefor
fall as a whole. 1t follows that the
holders ofthe five-twentIes, and, in fact,
of every species of claim against the
government, would have an absolute
legal right 10 payment in gold. The
holders OF gTeenbacks and other obli-
cations of the government not bearing
interest would, of course, have no
means of enforcing their claims at once;
but the holders of interest bearing
libonds would have such a plain right to
the payment ofiinterest until the gov
eminent was ready to pay the principal
ingold that their claims conld not be
evaded without unequivocal, undis-
Ruised reputation. Honest men would
then get face to face with political Jere-
my Diddlers, and we should have no
more palIiHtion of fraud by reference
Ito nthe letter of the law" ~
But there Is another result certain TO
follow this Judgment, and not so agree
ableto contemplate. The decision which
We predict will involve forced and
sudden return to specie payments
| among private citizens. The injustice
which was suffered by creditors in 1862
and 1858, when debts contracted in gold
were paid of in Deprecated paper, will
now be inflicted upon debtors, who
must pay in gold debts contracted in
paper. In the majority of cases, such
payment Will not be exacted, because
paper win continue TO constitute the
actual currency, and gold will be paid
only upon legal compulsion; but debts
secured by good mortgages viii be
largely collected in gold, unless the
courts feel at liberty to go behind the
word "monsy," and ipquire what the
parties really meant when the bond
was drawn. In any event, the decision
hi
settle business for time, and produce
some hardship; yet we believe that its
ultimate benefits will far outweigh its
temporary disadvantages. The exist
ing system is demorRlizing the nation;
and scarcely any price is too dear to
pay for the sake'of getting back to solid
bottom. Congress will, we fear, never
dare TO return tot specie basis, and our
only hope is in the severe remedy of
judicial decisions E
The Senate, foreseeing this event,
twice passed bill allowing contracts
to be made for payment in gold; but
the House OF. Representatives, with its
usual shortsightedness, refused to con-
cur, The passage of such n measure
would have enabled the community TO
avoid the evil results of a sudden re-
turn TO specie Payments. As matters
stand, IL is difficult, bnt not quite i'm
possible, TO do so. The courts are more
disposed now than they were during
the war to enforce specie contracts; and
with u little care such contracts may
be drawn SO as to protect all parties.
We should advise all who have large
sums to pay alter next winter; and who
expect To pay in full, to consider we'll
the form of their obligation. and either
TO secure theright of payment in green
backs or to agree TO pay in gold OF
specified weight and fineness the equiv
alent of what they have received.
Nevertheless, IL must be distinctly un-
derstood that all our warning is found
ed upon surmise, aud that no one must
blame us If our predictions are not full
filled. The Legal Tender act may be
fully sustained. Every one must Iore-
cast for himself. But our belief and
expectation are as we have set forth,
and in calling the attention of the pub
lie to the possibilitiesro of the case, we
have done all our duty. lfa -rall 81.
sale OF Unlawful PuBIicatIons...VIo.
I IatIOn of the sabbath.
whore are the Officers OF the LaW3
Editors IttelGgereer: 200
There is State law and also a city
ordinance, prohibiting the selling of
goods or merchandise on the Sabbath
In al loy all