, 1869-02-20
:. .eoLD CONTRACTS.
~
- ~
Decision of lhe Supreme Court.
Full Report. .1of the Opinion Dsliv-
cred by the Chief Justice.

I'LL As1FVAb VI hAo NFAAAVNA. 0S@As |
cred by the Chief Justice. III
The Supreme Court. on the 18th ipas.. decided
he hss, Of tho tloposssns petdIag c.ses before
IhsM arising u1der the Legal Terder act. THIS
opinion wss rerde1ed In the NeR York case Of
Frederick Bronson, executor Of Arthur H-nnsoD,
deeetsod. VI. Peter Rodes, ard MAS delivered as
followr By the Chief Jasstce:
Tn,s cate comes nefore Us On writ nf error
from tho Cont OF Appeals Of New York. Tne
Il III ISL % sHs cs2s,sa ~ %ssa' a.StSs
Artbu. Bronson. s, l,sN e1-t used bis bond for the
70 BE"neon Of she p:.nclpA eum. bJr-
rowed en- ,he arss day ot Januers, lss7. ~ eo!d
In rest also In ctin until eueh repayment a. the
Je. e.rly rate Ct J per cent 70 sec3re ,hess pay
~ Btonscn snieei appoint, Of. IL default ofsaea @
appointment, 1t the Me;cbaLts' B4ak iu Sex
Yo5k, Metz sx.eaed :s Dotgsss acon certain
md did. 10 tac1. pay. The int.te.t an..s Ind IN.
clnalue the Iii aay Of January, 1865. there nar ps
Of p!aes Ct -; mcnt hy R1ansen. k"des ten.
OF htteer hundred and eevcn Col21Te, fuu1 Eoptl-
nail, cQuas 10 the principal md in:ere.t due uoou
the boEd and MORT aye. At tn.t time one dollar
dollars and ! quarter Of United rta;es aotes
This tvEtef vas refused. IFheEeupon Ito :es de-
eFa 3, ass y ~ ~ s S
n,sas r. ses1ea from SissU Is ,s }sn
conpeits d 10 exceu.e ata deliver 10 him an ac-
kLtwcteul'Lt OF the Tut satisfaction ntd d. |
sss1ss T. r. ssS rRe ~ @
on appeal 10 the supreme Court iu rencr4i ierm,
TIT d cree Of uitmts.si war ve1sed. hna n IL.
b.en taif,fsd ~ .be ts1ors. AMI unrcstnc Boa.
ton 10 *st,tiy ~ ssmc )! rccord. ard thl. e,ec
% ;, 1as es1,st, xs q se
| y nat Diun Oh bonrd bv law TO acc.p' from kaodes
e. II. Sta es notes Equal In nominal amount 10
fae'Ion OF contract wn.ca s:t etioula cd for the
n.9ment Of that sum IN Knid &1d silver colt, Law
iui money Of the United s:a'es. 1t l. no: e.end.
| Obligation to pay <1.sGt. eniLcd money dollars.
can be made cY The, tcfdcr OF paper money
quest, OIL s,docs the lAW compel the acce ancc Of
sucE tcuost Tor .u h debt. II Is tue npp.op1,-
ste lurct,on Of conr:s 81 tu.t,ce 10 enfoTc: con.
OF the parties, We musf, therefore inquire wast
was the inteLt and understanding Of Fsedcr.ck
inro tbe col cot tract unaer cont.tera,oa II nc
her. 1851, and thts iIquty Will be a'etsed by rcf-
.Esnc.l . the e,reum.iaaees ucder which tns eon;
as trustee with the administration Of an estae,
ste'z was b>rrowcr from the e.tate. 1t vas the
MI ret a5mcut Of the moneg loaned to ,hc latter.
The currency Of The country q: that lime consisted
nj 1n'y n thc Circulating notes OF STATE Banks,
ao CON on asn.pd Tbs
tsonsh Lar nom pe,fea, tegsshsr wl,h the &C )
ior an receipts II. dir aaraement. OF the Sat1on.l
Gost11m: ~, tEeursd the presence OF som CON IN
q "a 6 Of
N.ea.um # iank 1otes. The stat. caukt oal re.
. Gently emerged fton . condition of rsvat pre-
etil widely felt ard the recurrence o. ike Gun.
dniou Vas rot urreasonanly apprehcnded b5
: many. his apprsh r.lon was. IN FACT. realized
l ~ The II Leza susreHstou Of coin pa9ment which
, taok t.ce 1871. shortly af:tr tne boId Of Nett
4 tcenme cue: II Is to he do1bed, then. tbs. i
et.ats i'm an attempt 70 iorce 1hs acceptance % .
due uat;na .Pa ,s pettaps ,r..ds msb en.E e
S htnd. there vas 70 1eccss'tj in Law for znch
i stlpu alton a: lnas '1me. for then onsy ex ep
ona VI asu auy ga 70 sa
$ s,s: ~ terms, q H. CONTACT M,
!, NJ the eonsac b.ine.n tn- psrtt 3 au
u 10 enasa acain.t any puse1b|e claim of th: NOR
: tcscnt 70 d,.eharce tue cb5,7a1, n Tho intent ,
=, Inc par''ss ts :h:Ecforc car: whs'ever might
"a ,te forms ~ tluc:na,oEs Of tae note eurrenc.
IL lh. coitrsc, wAs not to he atscted bt thcmi it
ID to tie paid at ali events IN coined !awfu! moae
ne We hav. jus, adv rted 10 the fact that thu leg
" out express siipclaucn It will be ucsul to co
~ si.er rnewhat tulthtr The pr. c;s lmpur In Ia
H. ne ncpsy y pe p'CE1s Csd + s2 s s"r M
in tare look irto tue tta'utes regulating cotnage.
~ tory ot eel, SCR tne rnted ,ta'ct and the IN
IL ecsftrn u ttatu Ct bJ which the weight. pnrlt
9ps ,sE s'c@ c@t M 95a 81 r. Ssf eoSs
NJ & ill., sf ! 5;9s,5s
ny ~, l>h' u,srt Tor The purpo.e Of the natlot
~ ~ c,n1ate. It was tie result Of rees c+rc.u1 ii
ca tcotuu; invttt.eaton OF the whole subject,
ed which Jefferson md Hamilton TOOK tic r. >a!s
~ psrr. mad its tttsl ptt cIples have contfl.d
d. rno.eoucnt tert. as.cn 1tVrn"1d that tae &
M M eieseo taie I'M and one pit alloy. Which ali
ou wac to b. slly>r and COZ p 10 convenient prop
~ t,oIe bat not e1eecalne ore hslt sls + aad i
up, eirh,y.hv one hundreutn ps.s 1nc, aud one h1
.hs cred ard teset ts.nr,e parts Of alloy. wholiy
ort G. ppcr. The same act established The dollar
nv The monev mini. and zeqoissd that I: ebon:a C.
,oH ~ ta'n four nuudsed AMI sixteen, grains
lel- standard etlyts. It p:ovtced further fnr
10. SInes h.l din,f. a.:5 of stand ara .
Eey wt1sh'lG tesp,c,s: y o,e.hais, en-9uaFt
deitss prasi.,on VI. also in ,de for gold CO
,n. age, to1 aittnc cfeagls. haI1-esrle. and quat
~ eautes. and contasnlt g ~efect vcIy two hnrd
/, tx y.st,cu ali 1f,i Of t1srdsfd eoli .rd oe
ion offs - ns resEseti'sy q ten dollars. ase do
u n,.d r.epecn,e wei;h't ct gold ana silver Il oi
wv iaht It tho DECLARED yane, ard II ut lsss
Get, T.. M Der der matted IL iii iorce ua.t ISL The
dry prtterbrs 'h' .eompnsi'1on of n alloy his re
(. Of becn chn' aed. hu, the prom rum at alloy TO
tile Golc ard ellsss aca tao nsoln'c weeo5 o. C
'eeP ticrhthc 6eltrr j1s'meh. Of the 7olt an1 81
/ to ierc Of commerce The o:ls c. aye ii snflc
Importance e. t.. require notice u thst q q
alt 20 d, snd sIandRf': filre: al O. ehoult thcl
,rrt ! fottn cortit Ct nine payta rufe and one plrt
ron loy ,hs, the " ieht Of st.n,ara arit IN the c
LUX IN ,ha taf esxle and Gnsrtrf e.eJe resocciiy
o1e-tsH and one flur'h Il tbat weight precfs
tec- snd that ne weigh, Of standard F.scr rh1uld
IT. the oIlsr, luur hnrrled twelve and
,,e crntns ann the bslf dn,1sr. quartsr1ollar- d
's ard hsli-dtms, ,e1s III ore dali, oee-foufth,
'nat cf1ss9 authorized the eoIuare Of gold do'
: oe ,asl. and golo doliars eoE'o,nahly ~ ~
pro. fpectA 70 tho Established htathartp. md thes'
pers y be weights reeptctively Of nve hun6'cd
sixteen crstns ard 'htrsy-hve GR1t-telta or:
- TIE method. and mac ehiteIy o. coinage had
Lis ,hs' nn.sot1ab!. devia Ions tr,rn The prescs
Me,f 1t oe:a a'mest iuippr-cta,le,
Tor we most et,iuzent re- u1. loas were ctforc.!
secure The utmost ett4it able exaen'es boz
Weight and p1r u OF meal II nre cons
erea.es. aevlst'en tolerated In fhe E,Id co
Wa haIf . gram IN th+ uous1e and hal! eagle
a9usl.er Of ! gan 10 TIE g :ates eae'e 40
CoIi-r: and in tie ttiver cotta2e, Rrain Al
hal III tke do'la., It sio ID The 9ner:sf dt
i,ics isi9 fte m, Of fe1is7iso il weighing large
oera Of to.ns on delivery hy the ch ef collier
~ ll*asnres, sn, by The Treasurer t. tue depos
Thew nre.sn,ions atnst he emission X noT ole:
phia, ierior I'M weight or purity to tue prcsc
3 Of sd ti,'f ao.ars o. lie unite1 states legal
to tn- osts ~ ~ pst ssI's ~ aonc he me a
Sios. "a! snma ,sen1.tiIn. A. 10 III. tender
AKty ensll sums cf coins OF less weight au1 p
on Of iian tnal nade ~ masing G
bsiu. money isssi sEue5 n ~ IaI Eetts
nau- -. tnntx,.-x ann ar,r1res. n ,,. room,
was ct corr age Is easily eeeu. !, wss d. nht es!
Alter LIE rtion u Tie LeRltlat1re t. give sure
orint- antec 10 the peop.e tha. t1e colts mae c.
Paris, ic payu e1n e"natEed tEe pteclse *eixht o.
no ~ 1he ETA ate. 1t zecoenze4 the tset, acc
EuL- iher"n. in toe nnr1ous metals. lis: 20
He si,vtr sre in themselves Value, ard 9elrs
kdei. ard b tLg in n:her re.perts netr Ad,2ted +
Gur- puEs ose- ere The only proper n 'ssufrs a
lite a11 tnat ,hese salnts ars cesasn:n'o ~ "
larilF sta nul"g a.a Ia. sne 1ot na ,nu 1,r 81,
a.. ~ aes- iutt reratcr OILY be .ause o. i1e snoe
11e1 C.ve. itc,n TIE propositions thu. sta'ed q
lphia ityed 10 lc 1Ec 1iestlhle. 1f;sey are so II
se 'qaat,' aosI. tp psy,s
,na and t!iytr coip. lawful Eo7ey o. the z
j. lie EsT.ush So1l,1 II i. pses Of cold or ssvc,
n aud '1ned TO oe OF ctrta,n .ei. a ana pu11ty.
II cu- form ard tn2rcss 8. en- TO II at The mint
Jour United ssater, ara, th ve!or-, decla.ed to
:. He legal tendff II p'tmsn. a. ana !n ~! Tnm y.
ia the aid era .1irsv N nnt eo,la, mntIp@tei
80 w Clver runh:r. Payment Of mn1e; Is Inc at
Henry ny ore to aEolber or th. ancukt due. 4 CD
slnO tc psy Ger ain number OF dollars IN Rold a
enera- yer COINS lie, lher-io'e n ,eca1 inaontt M
srld" &c han % M :. a. ~ ,r~d -
.use ~ nrh - ,rh,.h ia rrr: led IN co.f,,n
ltl1Q3s | 5rlf 1rn, inn Of weight II lE No