Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1869-03-22
THE SUPREME COURT-GOLD CON,
TRACTS.

-
WASHINGTON, February l5.-Frederick
Bronson, ert., &C., ps. Peter Rades. This
is an appeal from a judgment of the
Court Of Appeals of the State Of New
York, holding that a tender of Treasury
notes for the satisfaction of a mortgage
made in 1851, by its terms to be satisfied
in gold and silver coin, was sufficient.
The tender was made in January, 1865,
when a dollar in coin VAS equal to two
dollars and twenty-five cents in legal
tender notes, and the tender being re-
fused, action was commenced to compel
the cancellation of the mortgage.
The Supreme Court Of the State sub
sequeutly adjudged the mortgage paid,
and required it to be satisfied of record,
holding the tender to have been suli-
cient, and the affirmsnce is here for re-
view.
The Chief Justice delivered the opin-
ion of the Court, holding that it is the
duty Of Courts of justice to enforce con-
tracts according to the intent of the
parties to them, and in this case it is
held that it is clear that the intent of
the parties was that payment should be
made in coin.
There were two descriptions of money
in use at the time the tender in this cnse
was made, both authorised by law and
both made legal tender. The general
denomination Of both descriptions was
dollar, but they were essentially unlike
in nature. The coin dollar was o piece
of gold or silver Of q certain degree Of
purity and weight. The note dollar
was q promise to pay a coined dollar,
but not on demand o Mt any fixed
time, nor vas it convertible into q coined
dollar. It was impossible, in the nature
of things, that these two dollars should
DO the equivalent Of each other. Nor
did the Currency Act purport to make
them so. There were then two descrip-
tions of currency issued by the same
Government, and contracts to pay either
were equally sanctioned by law.
No question can be made rs to this
fact. Doubt concerning it can only
spring from that confusion Of ideas
which always attends the Introduction
Of varying and uncertain measure OF
value into circulation rs money. In the
absence of any specific contract for the
payment Of coin, legal tender notes may
be a sufficient tender: but it is cleNr to
the Court that express contracts for the
payment Of coined dollars can only be
satisfied by the payment Of coined dol
lars. They are not debts which may be
satisfied by, the tender of Treasury
notes. As to the judgments to be en-
tered on contracts for the payment OF
coin, it is said the difficulty arises in
the s%upposition that damages a be
assessed in only n description OF
money /; but where there are two kinds
of currency provided by law, tits necos-
sary, in order to avoid ambiguity and
prevent n failure of justice, to render
judgment for coined money where the
contract provides for payment in coined
money. While no specified description
of money is made, judgments may be
entered generally without such specili-
cation. Judgment below reversed.
A DISSENTING mi
Mr.. Justice Miller disseuted, holding
| that although it was the Intention OF the
parties that gold should be paid, it was
only so because gold was then the cur.
rency Of the Government, the lawful
money Of the United States mentioned
in the contract. There was nothing in
the contract to make it differ from any
other ordinary contract payable in dol
lars. When Treasury notes became
lawful money of the United States, their
tender was sufficient to discharge the
contract and within its terms, and with
in the understanding and intention oil
the parties. This decision in no way
| affects the legal tender cases argued by
| Mr.. Potter and the Attorney General at
the present term OF the Court, although
reargued at the time of the argument OF
those cases.