The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1870-12-31

DECEMBER TERM-GoDDARD, j., PRESIDING.
FRIDAY.-No. 392-Nep entry-Geo. F. Emery vs..
The City of Bangor.
Goddard, J.-This suit, although not large in
amount, involves question OF grave importance,
and entirely new, far as am aware, to the Courts
Of the State. The city otlBaugor in 1854 obtained
authority from the Legislature to issue limited
number of bonds in aid of the P. & x. r. R., then
in process Of construction toward that city. They
were made payable in twenty years with seman-
nual coupons, payable each April and October.
At the December term, 1869, the Supreme Court
Of the United States after most careful and patient
deberation, announced the decision that the princ-
pal and interest of all bonds and other lawful con-
tracts made prior to the legal tender act of Congress-
passed July II, 1862, payable in gold and silver
corn Of the United States. Yet the authorities of
Bangor have reused to pay either the April Octo
Der coupons of this year ia god but offer only
rency and this suit is brought to enforce payment
gold of the April and October coupons of this year
on $1,000 city railroad aid bond OF 1854, plaintiff
claiming $50 and interest in gold less United States
revenue tax Of $150 on the April coupon, with in
terest from their maturity, while defendants tender
the amounts in currency only.
The second clause of the sixth article of the Con-
stituton OF the United States declares that "thls
Constitution and the laws of the nited States which
shall be made in pursuance thereof, and all treaties
made, or which shall be made, under the authority
Of the United States shall be the supreme law OF the
land and the Judges In every State shall be bound
thereby, anything IN the Constitution or laws OF any
State 10 the contrary Notwithstanding Article
section is as folio Rt:-"The judci Al power lot the
Supreme Court) shall extend 10 all cases in law and
equity Arising under the Constitution, the laws of
be made, under their authority" Tie Constitution
of Maine, Article TX, Sect j, provides that "every
person elected or appointed TO either OF the places
Offices provi led in this Constituton,o commissioned
to any judicial. executive or military office under
this State, SHALL before he enteron the discbaree
the Of bis sI place or and
swear that will support the Constitution OF the
United States and OF this State so long as shall
tinus citizen thereof. So help me Cod" The
plain language Of the Constitution of the United
States and the letter and spirit OF the judicial cath
required by the Constitution OF Maine point out
mistakeably the inelot duty for the state judges in
such these. The final Interpreter of the ma
tional Constitution and OF the Of Congress hav-
nation, the State Judge is required. as understand
1t, in rood faith promptly to apply and enforce it,
whether 1T meets his approval or otherwise.
In this particular case, however, this Court lot
only recognizes the superior authority of the Gener
al Government and its Courts, but regards the i'm
mediate enforcement OF the law laid down by the
United States Supreme Court as necessary to the
credit of our State already in my judgment, seli-
ously compromised by the remarkable attitude OF
several OF its counties and Municipalities, to say
nothing of some OF the leading corporations created
exciting by its charter
While the State itself, by the Resolve of March %,
1870. promptly recognized its plain duty in this
spect and while this county and city and some others
have FASTENED to preserve their financial honor by
paying all their obligations prior to 1852 in gold,
where parties, for whose benefit the obligations
incurred have refused or neglected to make good the
payments thus made in their behalf, other counties,
cities, towns and railroad corporations have refused
to comply with the legal liability imposed by the in
depreciation given to the law by the United States
Court The loss to Portland during the present year
from this alone is not far from $4,000 being
the me isure OF the difference between its standard
OF commercial integrity toward its bondholders and
that OF some OF its benefci lries toward it.
Thus confusion has been ocoasioned, and the fnan-
cal credit and honor Of our State imp ired, and it
is high time that the obligations Of debtors should be
boo nv ut and
all excuse for such financial Irregularities taken
away by erecting standard near that it cannot
be overlooked ignored. as has been attempted in
regard to thu up at Washington. 1t is almost
important that the law should be distinctly made
known by the Court as that 1t should be correctly
should be uniformity and harmony between the de-
cisious OF State Courts and those OF the nation
subjects which the latter have final jurisdc.
ton at any rate unless we are willing to be cassed
among regulators, it Is absolutely necessary that
all lndvr,uals or corporations, monied or munlc-
ipal, wnich seek to evaue the tuflment OF any
part OF their legal promises should at once be lett
without the excuse OF uncertainty or doubt as to
what Is their legal duty.
Many of these bonds and securities are in the hands
OF widows, orphans, minors aud aged nersons who
are able to sue, or ii able shrink from tes ing The
question by suit and In case of coupons the
amounts in DISPUTE though very large in the asr,e
gate, and therefore worth resisting by the debtors
too small individually to warrant the delay anr
uncertainty OF sulls by the separate no ders To;
strong temptation is thus presented to tue cupid
ty OF the debtor refuse to pay his lawful indebted
ness, in the double hope that many OF his creditor
will be harrassed into an acceptance of ten per cent
less than their due; and that by availins himsel
to the utmost of "the laws delay" final decision il
the case OF the few who are bold enough to sue 70
their rights may be stponed until gold shall hav
fallen to ar by an act resumng specie payments, Of
atleast have appropriated so closely to that STANDARD
a. practically 10 euable theneb tor to es ape the nay
ment OF nearly all the pr MUM which the pu' chas
and payment OF gold to his creditors when it was du
would Invoive Therefore, in my opinion, credit i
due the plaintiff in this case in thus bringing hi
legal rights against the city of Bangor to legal test
and therefore, have lost time In giving decis
ion at this the first term that defendants, ii The
think proper, may have early oppor unity to obtai
the opinion OF the Law Court oil this State npon tn
point Involved.
In obedience to what understand to be the set
tied and final decision Of the Supreme Court of Tn
United States, ana in accordance with the actus
practice OF the States, counties, cities and corpora
tons Of the highest financial credit and In accord
apce with what regard as the demands OF justice,
am Of the opinion that defendants not at libert
Isgudiate any part OF their original contract wit
their bondhoders as Interpreted blythe United STATE
tmount claimed by him in gold.