New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-02-08

OF the capacity
accommodate It's legislation TO circumstances.
We have cited at unusual length these remarks OF Chief
Justice Marshall because. though made half century
ago their applicability TO the circumstances under which
cnries Of the Government legal tender as means Of
successfully prosecuting war which, without such aid
money which could other manner be borrowed,
aud to pay the debt OF millions due its
to i've almost prophetic II had had clearly before his
mind the future history OF his he could have
better characterized principle which would have rem
dercd the power TO carry on war nugatory. which
would have deprived Congress Of the capacity to avail
sef OF experience 10 exercise ts reason and TO accom-
MEDIATE ia legislation to circumstances by the use Of the
most appropriate means OF supporting the Government
But il is said that the claims under consideration
sdmonitory as to the use Of implied powers and adds
nothing to what would have been authorized without
The idea is not Dow and Is probably intended Tor the
same which was urged In the case OF McCuloch agt
The State OF Maryland that instead OF enarghg
the powers conferred Congress, or providing iOr
liberal use OF thein IL was designed as restriction
upon the auxiliary powers Incidental TO every cypress
grant OF power In general terms have already citeo
fully from that that can only refer TO u 70 say
that this proposition there clearly stated aud refued
Does there exist then. any power In Congress OF IN tns
Government by express grant, to the execution OF which
this Legal Tender act was necessary aud proper te
here defined, and under the circumstances OF us
passagef ,--...,o, 20
The power declare war; to suppress insurreoton.
raise aa h"rrpw money on The credit Of the United
States pay tho deDs OF the Union ana 10 proVse ia
the common defense aud general welfare are each anu
ali distinctly and specifically granted in separate clauses
nj fhe Constitution. We we're In the midst OF war
which called all these powers into exercise ana IKE,
them severely war which, II we we're to take INTO
account tho Increased capacity Tor OBSTRUCTION asa
Snced nv I'm science tho corresponding increase
of ia cost brought into operation powers OF
more potent and more expensive tnan any ths' sno
has ever known All the ordinary means OF r enaerSS
ont the seycro powers of Congress above mentionen
had been employed TO their utmost capacIty a ,ss in
th spirit of he Rebellion unbroken with large armies
the Acid unuad with a current expenditure OF Socv"
mel day the credit Of the Government neariy @ ,,,
md The resources OF taxation inadequate to pay even Tue
lie puDliC debt, Congress Nhc Sohoo W.
devise some means OF borrowing "onoy v o s
dt NJ the nation for the result OF the war was con
adad Lv ali tbouRhtful to depend on the capacy
~ the 0yernment to raise money III amounts
Ynknswn The banks had already loaned tleir means
m sse Treasury: they had been compelled TO suspend
the nent OF specie on their own notes lo vo" 49,,
~ lie secretary Of the Treasury would not have
made circulation sufficient TO answer army purehascs
aud army pay pay c"ntry general collapse OF credit OF
payments and Of business seemed iEevtao,e IN which
a,rarnd. the Rebellion would have triumphed the
States would have been left divided ana Ino he
nar,shrd and with II the Constitution which we are
called upon to construe with such moe ana cr'tcai
THat the Legal Tender prevented these disastrous
results and that Legal Tender clause was necessary
to prevent them, entertain no doubt. ~ Jul sIH ma
filled the Golfers OF Conlssary and Quarternaster
It furnished medium for the payment OF pn,d vas
being rapidly Withdrawn from circniauon, anu
tho back currency was 81, oeco m,na, oS bnyne the
hnd ~, tha Government; t stimulated trade revived
the looping energies OF the country anu S rowed
the adOptOn OF this measure are beyond dispute NJ
other adequte cause has ever been i0t te d
ynI az Government credit the e~ed activity OF taue'
and the facility with which the Government OorroWeu III
two or three years at reasonable rates Oh i,ere h
,rn its nvu double the amount OF money there
was I'm the country. including CON. banK-hotes anu ne
notes issued under the legal tender ae,s q, ,bos.
IL ia now said however. Ms the CAIN rerospcct VI too
events that treasury suitable for circulation US
,,onev hearing ON their face the pledge or Unted
ltiY,uf m ma mel
eonaly efficient have answered the requirement. OF Tue
occasion without being made legal lenuer lot aepa
pnt ,yhnt wns needed something moro than Tue
o the Government That had stretched TO JUS NJ
most tension. aud was clearly no iohSe rro sum,
money Is there any reason TO believe that tine
mere change in the form OF the security sn nn.
trory m experience shows that currency not reueena
lie promptly in coiu but dependent on the credit OF
n,,i,issnr whose resources are rapidly diminishing
yb his liabilities increasing. soon Sinks 10 tue uee
level OF worthless paper. As no man wOud nave oeen
nnnelcd 10 take t daymeut OF debts as II pore DO
ms its period OF redemption would nave oeen re-
mote ana uncertain. THIS must have been ile % h
iw they were made discharge tile functions Oh paynE
debt they had perpetual credit or value eaaa 70 ,ue
thoy t pey:. 9llpit "a tnsG never na oV
pose wepe them aud have always Deen eagerly soueh,
By tho people 10 say sne ba nrT seems TO Inc
unsupported by any sound view OF the SITUATION.
Nor any just inference OF that ptopos'on s,so
from comparison of the legal tender notes Win Tue
bonds Issued by the Government about tue same tne
had fixed period Tor Lntlr payment,
the Secretary Of the Treasury declared that they weIe
payable in gold They bore interest," when was payaDie
semi annually in gold by express terms Oh tner lace
and the Customs duties which, by law could be PAID III
nothing bat gold, sacreily pledged To the pay heh
this interest They can aor no means .,
notes designed 10 circulate as money Du wuch ooe ~
fixed time Of redemption ana Wy law cOu pay no ueo''
The legaendrr clauses or the statutes uhder consiuer
alton placed enphnchy ~ those VINO eae'e o
| money aud maintaining the Army and Navy. IL wa.
done reluctantly and with hesitation ahd only AFTER tt
NECESSITY had been demonstrated aud had become I'M
paratiyc Our statesmen had been trained IN schools
Which looked upon such legislation with sOmethng more
than dsrst The debates Of the two Houses OF Congress
show that on this Necessity alone could this clause or the
bill have carried. and they also prove as thik
very clearly the OF that necessity The history
of that gloomy time is be readily forgotten by the
lover OF country aud will forever remain tue luu
clear ample vindcaon OF the exercise oil ts poWe
by Congress- as IT'S results have demonstrated The
sagacity those who originated ana carried through
the measure.
Certainly IL seems TO the best gment that brnl
To hear upon the subject that this Jaw was necessity
the stringent seuse In which that %or1 can DC use
Rut II we adopt the construction OF ChefJustce Mar
shall and the full Court which he presided con
srucon which has never To this day been oyerrnea Of
In this Court how can We avoid this cOnclu
sion Can 1t be said that this provision ala not cOhuue'
toward the purpose OF borrowing money OF paying
of raisiug armies OF suppressn lnsurrectOu Or ina
It was calculated ~ effect these objects or that
not useful aud essential TO that enu IL can DC s
that this among the choice MEANS II not the on,
which we're left Congress- W carry Oh tho wax ~
National existence.
Let compare the present Win otntr cascs ueCue'
IN this Court II say indirectly that to declare
m ths case of the United States agt Fisher. that th
debt which bankrupt the Government shall nav
priority of payment all other debts Is necessary
and proper enable the Government 10 pay us owl
debts how say that the legal tender clause wa
not necessary and proper enable the GOvernmvut
borrow money 10 carry on tue war; Inc creation Vi wv
United states Bank, aud especially the p0"e
! granted TO it 10 issue notes for CIRCULATION a.
| money, strenuously resisted as ~itu
ont constitutional authority: but TINS Court hel'
that bank issue necessary III the sense OF Una
word used the Constitution TO enable the Govern
ment 10 collect transfer and 10 pay out Its revenues
IL was never claimed that the Government could ma ~
other means to do this. Ii could not then be dened no
has t~,yer BEEN that other means more clearly witi
the competency Of Congress existed nor that Dank
dppost might possibly nave answered withouta circua
tiop But because that the most hitting. useful ant
doin h.tC