New-York tribune., 1872-01-16


Tender act The case comes up under the following
title
Supreme Court, No TO- December Term, ls7O-knoX
agt Lee and No II, same term, Parker agf Days-Er-
To Circuit Court for Western District or Texas ana
Supreme Judicial Court Of Massachusetts,.
After some remarks upon the Importance OF this de-
cision be made Mr. Justice strong read the opinion OF
the Court, substantially as follows:
WHAT DEBTS ARE AFFECTED.
The debts which have been contracted since Feb ?5
1862 by the greatest portion of the Indebtedness
OF the country. They contracted In view of the
Acts Of Congress declaring Treasury notes a legal
tender, ana in reliance upon that declara0l anu ck
tender notes have become the universal measure or
values. II now the decision Of the Court establishes
con and that contrary 10 the expectations OF all par
ties 10 contracts, egaltender notes are 7endered un
available, the Government has become an Instrument OF
the grosscst Injustice; all debtors loaded with OBJ
legation it was never contemplated they should
assume; large percentage Is addict to every
debit and such must become the demand Tor
gold TO satisfy contracts that ruinons sacrifices
Te G are too GSSou to- aG of
On and there is well founded distinction to be made
between the constitutional XaIdty O an ac OF COhgIes
declaring Treasury notes legal tender for me pay neht
making legal fender for the discharge Of all debts
as well those incurred before as those made after It's
TIE POWERS or CONGRESS.
There may he a difference in the effects produced by
the and in the hardship Of their operation, but in
both the fundamental question that which tests
the validity Of the legislation, is Can Congress cons
tutonaly give Treasury notes the character and quail
tiles Of money! Can such notes be constituted eg
mate circulating medium, having defined legal value
II they can then such notes must he available to tunl
without reference to the time when the contracts were
made IT is therefore, strange that those who hold
tho Iegal-Tender unconstitutional wDen applied
contracts made before February 1852 ma themselves
compelled aso, to hold that the acts are invalid as 70
debts created after that time, and 10 hold that Dom
classes Of debts alike can he discharged only ny gold ana
silver coin lengthy examination Of the rules Of con
gtimtiOual IL made, and the CONCLUSION IL
that Congress has authority i'll all cases 70 enact laws
necessary and proper for the execution of all powers
ated by the Constitution, and that the necessity spoken
OF is not absolute but within the judgment ana discretion
OF Congress II il determined that OF the duties Of
Government Is TO preserve itself and 10 is held that this
Government IS Of all necessary powers TO mat
end and after statement Of the cOnden Of the cOun-
the army and navy II il said that II il were certain that
nothing would have supplied the absolute necessities
OF the Treasury that nothing else would have enabled
the Government to H. armies and navy that
Constitution from destruction while the LesaiIen1er
transccssed It's powers in the enactment OF those laws
If those enactments did work the result Il cannot b.
mautaincd now that they were not for Legitimate end
and appropriate and adapted 10 that end.
CoNGkEss HAD CHOICE OF MEANS.
In the language Of Marshall, in McCuIogh agt. Mary
land that they did work such results cannot be douOted
and II it be conceded that other might have
been chosen for the accomplishment OF the same neces
sary object the argument weakened by the
sion Congress had the choice means, and 1t chose
sufficient and proper one, and that 1t had right TO do,
hold that the means selected were beyond the consttn
ona power of Congress, because In their opinion some
other mems would have been equally appropriate and
efficient that would he 10 assume legislative power and
90 disregard the accepted rules for the COnst
tuition. But the view L. taken that none Of the other
suggested cOnd have been successful The credit Of the
country had been tried 10 s utmost endurance. Every
new issue Of notes which had nothing more TO rest upon
than Government crcdit must have parllyZcd it
aud more ana rendered II increasingly difficult o keep
the army In the Held or the navy afol II * hietOri
cal fact that many persons ana institution refused 10 re-
thc mead oi the Treasury represented 10 Congress the
necessity OF making the new Issues legal tenders or
rather declared IL impossible to avoid the necessity
LEGISLATION MAY AFFECT CONTRACTS.
The grant Congress OF the power to coin money
not be regarded AS containing; implied prohibition
against the Issue Of legaltcndcr notes. and II 1t raises
any implications they OF complete power over the
currency rather than restraining. The objection that
the LcgaTcndor act mpar- the obligations OF contracts
be accepted for II j. not an ODgdtlOn oi ihe
debtor 10 pas gold silver 10 contracts but 10 pay
money gcnerallynot contracts to pay specifically de-
fined money or the Kind Of money recognized ny Law az
the time when the contract made, nor l. IL his duty
TO pay money or equal intrinsic laiue III the
market Tie expectation oi the creditor and the anilc
patton Of the debtor may have been That tue conrdct
would be discharged by the payment OF coined
metals. But neither the expectation or lhe one party
to the contract concerning it, fruits nor the ancipdons
OF the other, constitutes it, oDgatlon The obligation OI
contract to pay money Is 10 pay that NhI lhe 10"
shall recognize money when ihe payment Is a. De
made. If there is anything settled by decision 1t j. th@
and IL cannot he understood to he contrONete nor can
il be said that Congress may not by it, action indirectly
impair the obligations OF contracts by the expression
be meant rendering them irutess OF partially so u
rcctly it cOnfes~edly. by passing bankrupt act en-
bracng past well ~ future transactions TINS is obt-
crailng contracts entirely, 80 IL may iticNe ~
from their apparent obligations indirectly IN multitude
Of ways. An such measures may, and must operate
seriously upon existing contracts, and may not urrcy
hinder bat relieve the parties entirely iIOul p'roImdc
REPRESENTATIVES, OF vALCts.
As 10 the objection that the Lcga-T,nd nder Act, were
prohibod BY the Con>ttut Onal provisions prohibiting
the taking of private property Tor public use without
"a. yth, t-t.in bus IV..lt
been understood refer only To direct appropriation
aud not H. consequential injuries resulting from To" eN
ercise of lawful power Inc objection HAT the unit oi
money value must possess lnlIlh>, value i icHilueu
a. foreign to the subject The l%gdll hhcf Act. 40 nor
attempt To max. standard OF value. Ihtf Naii'y j
not vested upon the assertion tt thelf chiSH" sron
age or any regulation Oi the value Of money nor s II
asserted that Congress has the power 70 enact that Gov
promises to pay money siali pe ior Tue ,ne
being equivalent ln value 10 the representative value
determined by the coinage acts, or to mutpes !heLrot
of value. the Constitution does not speak Ol
it, aud contemplate nerel! stahdala m t3r ,l,,l lnat
which has gravity OF extension Nalne u an lIeI hE
The Act iNcd its unit as dollar t me g" OF
silver thng called dollar Is IN no Sn,r r S''ndru ol
dollar. hut representative ci IT, ihis 1IcIIn Over
Iue- 80 much OI what was decided ~ Hepburn agt.
GrisN ods Wall, Gfa~ rned the LrEHi-lrn'f hcI h'-
warranted ny the t0isl lnU"h :" IaI " HeS HPiR -
contracts made before their enactment l. Is said tat
H. no denied thing ~ courts O last resort bOth
in this country and in England. ooyerue decisions pre-
vlOusv made and that, even Ia caSr. my"Nhg private
Interests If This Court is convinced has made ms
take IT will hear another ana Correct 9 eroi
A greed this should not be- done cons.defatCA; h
Of Nlrl ld nll- fou-f'h ~ ~" Pl'N-
cn Thoroughly convinced as the Court Is tha 'Onges,
has ianseTessed Ia powers II l. regarded as nutN
- to tcc e. and affirm the judgments below IN both
cpSes Ii il also remarked tdt ihc '"t - MOI uccus-
toned hear such casc- In tn a''"hte oil lhl court
II 10 can he avoided.
Mr. Ju,flcc bradley read long opinion con,uriug
the conclusion of Mr.. Justic" strong.
DISSENTING OPINIONS.
The Chici Justice and justices Clifford and fleld--al
the utug Justices, except Mr.. Justice Nelson who
W.. not presentread dissenting opinions setting forth
NJ area, length the minority views with which the
country IL familiar having been the opinion OF the