The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1874-04-23
An Important Decision by the Supreme Court

An Important Decision by the Supreme Court.
The case of VIM. Whaley, executor, VS.. the
Bank of Charleston, now decided by the State
Supreme Court, is one of considerable impor-
tance The case was argued on motion for a
new trial by the defendants, which motion has
been dismissed by the court. The points Of
the case cited in the opinion, which was deliv-
cred by Chief Justice Moses, are briefly as fol-
lows: On or before the 9Th of September,
1861, the testator, Joseph Whaley, had on de-
posit with the Bank of Charleston balance to
his credit in gold or its equivalent amounting
to $33, ,4S1.96. On that day the bank publish
ed a notice, "the knowledge of which was ad-
mitted by Mr.. Whaley, that from and after
that date all credits will be given and will be
notes. Mr.. Whaley continued to draw upon
the balance to his credit up to March 30, 1863,
and overdrew the amount which in September,
1861, he had to his credit. The action was
based upon the ground that the receipt of such
amounts in Confederate currency was only
discharge of the liability of the bank to the
amount of the value of the currency in which
the checks were paid. In the Circuit Court
the case was decided for the plaintiff. The
defendants appealed, and the Supreme Court
dismissed the appeal, after argument at the
April term of 1878 and reargument at the No
vember term of the same year. The points of
the decision are embraced in the following ex-
tracts from the opinion of the court:
"On the day that the resolution was promul-
gated by the bank, Mr.. Whaley had to his
credit the sum of S33, ,4S1.96, in value equal to
gold 1t was the result of his deposits and
checks up to that day, and if there had been
no subsequent transactions between them, 1t
could not with reason be contended that at any
after Period he would not be entitled, on de-
mand, to be paid the amount in a currency
equal to that for which the bank was liable on
the 9th of September, 1861. If he had, how
ever, on the next day, drawn check for $500
and the bank had in his pass book struck
balance in his favor less the last check, the
same agreement would hold that the whole
balance thus made would be converted into a
liability on the part of the bank to be removed
by the payment of Confederate Treasury notes,
no matter what might be their depreciation
when compared with gold or national currency.
A result so unreasonable cannot be found to
have the sanction of law.
ga fair and legitimate construction must
apply it to future Credits 1t was to have
effect from and after that day. on all credits
which might be given out after that day. How
could it act on credits for which the bank was
found its right to convert q liability for money
at par value, into one to be paid and satisfied
by deprecated currency, and the character
of that to be determined by itself? The words
of the resolution seem to lead but to one con-
clusion, and in their application to Mr. Whaley,
unless something has been done amounting to
consent or acquiescence on his part, to treat
his whole running account with the bank as
based only upon Confederate currency, we can
see nothing in the judgment below that re-
quires our interposition.
"The argument assumes that by striking the
balance, new and lower value was given to
the deposits as they stood on 9Th September,
1861. How could this consequence follow
when nothing was in fact done that could pro-
duce such a result? If balance had never
been struck between the two sides of the &C
count in the pass book, the sum due would
nevertheless have appeared upon it. Striking
balance from time to time was mere matter
of convenience, making the difference in The
amounts of the two sides at once apparent and
dispensing with the trouble of the addition of
long lines of figures. But it in no way changed
or varied the result to be ascertained by cast
ing up all the items on each side and then de-
Quoting the smaller from the larger NO item
of the same to the credit of Mr.. Whaley, on
9Th September, 1861, could by possibility be
converted into new credit, or one to arise
from and after a following day. 1t then had
an existence-a credit to be given from and
after could not be one which had been
given before. The credit of S93, ,4S1.96 was
really due him on August 15, 1861. Between
that date and the 9Th of November following
he made no deposit and drew no check. On
the day last named, his pass book was balanced,
showing no change in his account as it existed
on August Is, and yet it is claimed that, by
merely prefxing the word balance to the
credit side as it actually stood before the pass
age of the resolution, its whole character as
to value was materially changed To sustain
the construction given to the resolution in
the The argument on behalf Of the bank, its Ian
guage should have been of a different charac-
ter; at least of kind so plain and significant
as to prevent any misapprehcnson on the part
of its customers. To subject the amount due
Mr.. Whaley before the 9Th September, 1861, to
the provisions of the first section, chapter fifty
five, of the General Statutes, (p. 31O,) would
be treating it as a debt created or contracted
in Confederate States notes. 1t would deter
mine its value by provision intended only to
affect obligations so arising. While it applies
to debt contracted with a view to Conteder-
ate money, as did that which resulted from the
deposits and checks after the 9Th September,
1861, we can see no reason why, in the par
ticular cause before us, the court is bound to
give such a construction to the terms of the
Resolution as must change its whole tenor and
apparent purpose, unless compelled to do so by
some principle of law. We do not perceive
such acquiescence on the part of Mr.. Whaley,
in the construction of the resolution for which
the bank contends, as binds him to their con-
clusion Was there any circumstance appa-
rent from the book, with his view of the reso
luton, as was naturally calculated to prompt
inquiry or explanation? :. :. i
at is urged that Mr.. Whalcy has himself af-
forded construction to the language of the
resolution by drawing at some time between
November 6, 1861, and March 3, 1863, in excess
of his denosits unless his checks can be SUP.