The Carson daily appeal. [volume] (Carson City, Nev.) 1865-1870, 1870-02-22
CHIEF JUSTICE CHASE REVIEWED
HIS OPINIONS IN 1862 AND 1870
CONTRASTED.

are fairly put on trial oy the iignt winch
himself affords. While the country is
agitated and surprised by his late deci-
sion in regard to the Legal Tender Act
we naturally turn to his record as Sec
rotary of the Treasury to ascertain what
part he then took relative to the law
which be has lately denounced. Let US
look at the position of Secretary Chase
as exhibited in 1862. The following
letter is to be found in The Congress
ional Globe, ID session 37th Congress,
page 6ls:
TREASURY DEPARTMENT,
January 29th, 1862.
Sir: have the honor to acknowledge the
receipt Of a resolution of the Committee of
WAYS and Means referring me to House bill
No. $40, and requesting my opinion as to the
propriety and necessity of its immediate pas
sage BY Congress.
The condition of the Treasury certainly
renders immediate action on the subject of
affordinp provision for the expenditures Of the
Government both expedient ard necessary.
The general provisions of the bill submitted
to me seem to me well adapted to the end pro-
posed. There are, however, some points
which may perhaps be usefully amended.
The provision making United States notes
legal tender has doubtless been we'll consider.
ed BY the committee, and their conclusion
needs NO support from any observation o.
mine. I think it my duty. however. to say
that in respect to this provision my reflections
have conducted me to the same conclusions
they haye reached.
Ia 40 NkNvx hat haVn foIk
Tor DO wish to conceal that 1 now feel, a
great aversion to making anything but coin
legal tender in payment of debts. II has been
my anxious wish to avoid the necessity of
such legislation. 1t is, however, at present
impossible, in consequence of the large ex-
penditures entailed bv the war and the sus-
pension of the banks to procure sufficient coin
for disbursements; and it has. therefore, be-
come indispensably necessary that We should
resort to the issue Of United States notes.
The making them a legal tender might,
however, still be awarded, if the willingness
manifested by the people generally, by rail-
road companies, and by many of the banking
institutions, to receive and pay them as money
IL all transactions, were absolutely or practl-
cally universal; but unfortunately there are
so1sc persons and some institutions schich re-
f4se to receire and pay them, and Uhose action
ts,,ds, not merely to the unnecessary deprec'a-
ron of the notes, but to establish diseyini,ia-
hons IN business against those seho IN this
matter gre cordial support to the Gorern-
saent, and IN faror Of those seho do not.
such determinations SHOULD. If possible, be |
prevented; and the provision making the |
notes a legal tender In great measure at
least prevents it, by putting all citizens In |
respec. ON the same level both of rights and
duties.
The committee doubtless feel the necessity |
OF accompanying this measure BY legislation
necessary to secure the highest credit, as well
as the largest currency, of these notes. This
security can be found, in my judgement, BY
proper provisions for funding them in inter
cst-5earing bonds by well. guarded legislation.
authorizing banking associations, with circu-
iltion based on the bonds in which the notes
are funded, and by judicious system of ade-
uuase taxation, which will not only create a
demand for the notes, but, by securing the
prompt payment ofinterest, raise and sustain
the credit Of the bonds. Such legislation. II
RAY be hoped, will divest the legal-tenier
clause of the bill of injurious tendencies, and
secure the earliest possible return to sound
currency of coin ard promptly convertible
notes. beg leave to add that vigorous miii
;ary operations, and the unsparing retrench-
flent of all necessary expenses, will also con-
tribute essentially to this desirable end.
have the honor to be, with very great re-
sDect, yours truly, S. p. CHASE.
Hon. Thad. Stevens, Chairman.
Now let Us look at the green back
OF a legal tender note and see what it was
taas Mr.. Chase SO unequivocally en-
torsed. A one dollar note lies before
Us; and in the left hand corner of its
face is . picture of the present Chief
J cstiee, representing him with his arms
folded, and looking out upon the Repub'
lie which was TINS flooded with his
portraits With q peculiar and unmistak
able serenity or, taken in connection
With his recent official declarations, one
10 tempted to say cheek" On the
back of that note is the following un
language: This note is
Legal Tender for all debts, public and
private, except duties on imports and in
terest on the public debt; and is re-
in payment of all loans made
to the Cuited States" What can be
palmer than this language and wha,
need be more decisive than Mr.. Chase's
in its meaning and intent,
As shown By the terms Of the foregoing
letter?
Now ,es Us look and see how lament