The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1870-02-11
DEcISIOy OyTHE LEGAL TENDER ACT.

We take the following from the
( Correspondence of the Cincinnati Com
/ meFcieIi.
! The great event of to-day Frt,. ?tl.
/ i the decision of the Supreme Court
on the legal tender case. The suit
came up from Kentucky on the pay
ment of note made before the pass
age Of the Legal Tender act. When
the maker went TO pay it he offered
greenbacks, which the bank refused to
take. He declined to pay in coin, and
was thereupOn sue,l by the hank. The
| SupremerCOurt ofKentuckys sustained
the action, and declared the act in
question unconstitutional. This
brought the case into the United
States Supreme Q Court, where it has
twice been argued, and was to-day
finally decided and again in favor of
the bank, The effeet Of the decision
is that so far as the law attempts to pro-
vide legal tender for the payment of
debts existing before its passage, it is
unconstitutional therefore, all debts
existing when those acts were passed
must be paid in gold and silver. 1t
decides nothing with reference to con-
tracts made after the passage of the
law. The statement, however, which
was read filed, as Mr.. Justice Grier's
opinion, taken in connection with the
dissenting opinion of three Judges,
leaves q strong inference that, as the
! Court stood when GTier was in it, the
law would have been held valid as to
contracts made after its passage, if
such case had been before the Court.
Mr.. Justice Miller prepared the dis
senting opinion, which was cOncuTred
in byeJ Justices Davis and Swayne, and
which affirmed the cOnstitutionality
of the laws in question. The three
Judges hold that the requirements of
the Government at the time of the
passage of the acts made the legal
clause a necessary and proper meas
uFe, to enable the Government to car
| ~ on the war, raise and support arm
les, borrow money, and pay the debts
of the United States and that it was
for Congress to determine the degree
and measure Of this necessity, and
not the province of the courts, The
opinion went on to show, by the his
tory of the times that the position of
Congress and its estimate of the cOun-
try's necessities was just and proper.
The dissenting opinion is spoken of
by those accustomed to judge of such
matters as one of the ablest ever de-
livered ia the Supreme Court. Attor-
ney General HOar, ,ih private cOnversa-
ton, expressed his appreciation of
Judge Miller's opinion.
The effect of the majority opinion is
almost universally discussed tonight,
among the leading lawyers in both
houses, and all sorts of opinions are
expressed. 1t is pronounced one df
the most important decisions that has
ever been rendered, and many OF the
prominent Republican Senators be-
lieve that the decision will prove dis
astrOus to the business of the country,
as all the railroads, corporation, cOun-
ty and State bonds, and all other Obli-
cations of individuals. Oh associations,
contracted before the war, mnst be
paid in gold and silver. 1t is also
believed that twill have the effect of
raising the price of gold, and delay
the day Of specie payments.
Much surprise is expressed at the
attitude of Chief Justice Chase, whose
personal efforts and influence in Con-
gress, and among its members, pro-
cured the passage of the acts of 1862
and who now decides them to he nm
constitutional.