New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-04-25
,oc,ua, sneculations, IL would be an absurd ano
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before his word is said.

oY .crycy IN THE SUPREME COOhI.
Dnon .,,;,,o over year ago the Supreme Court |
Ia chat the Legal Tender act was not
uo0 40 IN contracts made before its passage |
,aeo The decision was made by fuli
narcb. after thorough argument and mature
JoI;eration. four of the Associate Justices agree
inc with Cbief-Justice Chase in the plain ana
onnareutly equitable declaration that obliga-
tops incurred when gold and silver were
the legal tenders of the country could not DC
Maid in deterioratei currency created ana
localized subsequent to the conclusion or the
contract The logic of the Bench and the com
mon sense of the people conceded, and the de-
cision was at once accepted as proper r.id
final, and acouiescing in it as fixed ,,,r1nciple,
peudng claims were settled, and business,
which had been affected by the question in
dispute, was quietly resumed
Rut the same Court differently constituted,
having nine members at present instead OF
eight Az then, two of whom are new to the
Bench and fresh from long and successful adj
! yocacy before the tribunal upon which they
now sit. has. lust reversed the former decision.
| At least. such reversal will be announced on
| Monday next; the decision is already so
certainly known that the division OF the
Bench on the question is published. Inc
| Chief Justice and three of the surviving
Judges who formerly united with him still de-
clare the act not binding as to obligations
contracted before its passage. The other three,
who in 1870 were of the opinion that the aco
was retroactive, are of the same mind now (;
and, reinforced by the two new Justices, en-
force az the law of the land that winch hve
other Judges declared only year ago to be
illegal.
The effect of this decision cannot but be TO
derange business. Powerful corporations WELD
ing large political and moneyed influence,
are deeply involve! in the question,
and in almost every instance the present
decision favors their interests as against those
of individual contractors. The decision, there
fore, Injuries the poor many, ana puts I'M
mense sums in the pockets OF the rch ana
} fo,,rishing few corporations. This latter fact
NAV not impugn the justice of the decision,
and would warrant and perhaps create, no dis
satisfaction if the legality of the present decision
were unquestiOned but in view of the positive
character of the former action, the last VIII
not DO heartily acIGesced in by the popular
voice. Further than this, it Is decision
which. however justified by the technicalities
of the law, violates common sense. SUI fur-
ther it will not be forgotten that the first de-
cision was reached only after long discussion
and study, whereas the present was argued
OILY on Tuesday last, and the decision was
arrived at yesterday. 1t is stated that the
opinions will not be perfected until December,
the Judges resolving to prepare them at leiS-
ure. 1t would have been wiser, we think, to
have reserved Judgment as well.-All this
is certainly not calculated to inspire
confidence in the wisdom and justice of
the new decision. Indeed, it is useless
to conceal the fact that public respect
for the highest tribunal in the land will be
lessened by the reversal of the original judg-
ment Not only will the above circumstancesbe
quoted in derogation of the Court, but the fur
Their one that the two Judges bradley and
Strong) who were instrumental in reversing
the action of the Court, to the great advan-
tage of the great railway and moneyed
corporations of the whole country, were them
selves interested in railroads at the time of
their appointment.