The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-04-01
THE EGAL-TENDER DECISION


The motion for a reconsideration of the ques-
tion of the constitutionslity of the Legal
tender act was argued before the Supreme
Court yesterday by Attorney-G General Hoar
on the part of the United States, and by Mr..
Carlisle on behalf of the clients whose inte-
rests were favored by the late decision. Very
cogent reasons were advanced for this recon-
sideration, and more especially for an explicit
expression of the opinion of the Court on a
point of vital importance which was decided
rather by implication than in direct man
ner There is great force in the assertion of
Mr.. Hoar that the constitutionality of the
Legal-tender act had been previously affirmed
by every State Court except one, and
that one was-Kentucky! If that treason
tainted State is to interpret modern legisla-
ion, every important national law will
speedily be set aside, and it is extremely
doubtful whether the validity of the consti-
tutional amendments can be maintained. The
Attorney General also directs attention to the
fact that the late decision was made by vote
of four to three, or majority of one, at time
when there were two vacancies on the bench,
and he intimates that at least one of the
judges acting with the maj jority had pre-
viously entertained different opinions, so that,
in the language of Mr.. Hoar, son the differ
ing opinions, at different times of his life, of
a single man, the whole constitutional power
of Congress and the execution in time of
the direst national necessity, after this long
popular acquiescence and the decisions of
State tribunals, was forever to be
subverted and set aside and
expunged from the practical powers
of this nation" The scope of the late deci-
sion is thus stated by the Attorney -General:-
The Court has ''nOt decided that this Legal
tender act did not, as a matter of construc-
lion, apply to contracts made before the pas
sage of the act, but the Court has decided
that it was not within the constitutional
power of Congress to insert that provision,
making treasury notes legal tender for pri-
vate debts, previously contracted, in the
statute" This distinction may belong to the
class of hair-splitting differences which law
yers delight to discuss, but it nevertheless
affords good ground for an application to a
full bench of nine judges for its consideration
of the question whether it is disposed to carry
out, to all it's logical consequences, the deci-
sion rendered by a bench of seven Judges
From time immemorial the law has been full
of glorious uncertainties, and on doubtful
points no man can tell what the final con-
struction of a statute may be until those who
possess the privilege of making the last guess
have rendered irrevocable judgment.
The most important practical question
raised by the decision is, whether the interest
on unpaid loans contracted before 1862
should be paid in gold or greenbacks. We
understand that several of the leading oorpo-
rations of this city whose instalments oi
Interest fall due to-day intend to pay interest
as heretofore in legal tenders, but that they
will accompany this payment with an agree
ment to advance hereafter the difference be-
ween the current value of coin and cur
relcy If the Supreme Court insists that such
paments must be made. The fact that this
ceuSe is adopted affords in itself good rea
son fr the request of tha Attorney General
that tie late decision shall be reviewed, SC
that If he principle it affirhs is sustained
the existing doubts about its phctical appli
cation MY be cleared up, and if, Ca the Other
hand, tina principle is overruleo, all the
business ofthe country may, in the Essence
of special Contracts, be conducted hereafter
as heretofore, ON greenback basis.
THE coNRADHs of the late General Georo