The Van Buren press., 1874-01-27
State Scrip Again.

nave dSain spoheu on tne State csi'l
question. Last year this same Court
made school taxes payable only in cur
rency. now they say We can pay all taxes
State, County and Municipal-excep'
interest on public debt, in State Scrip
What may be decided before tax paying
time is over. no mortal can possibly con
lecture We do not know how great al
effect the concentration OF State Scrip al
the Capital, may have had upon the de
. cision Of the Court We have long fore
seen that, as the law Of financial gravta.
tion was taking the bulk Of the State
Scrip into a few hands at Little Rock,
this question must come up and our Su.
prsme Court bo compelled 10 decide it,
The money power is stronger, the more
confined the limits Of it, With all due
Difference to the Judges who concur in
this opinion, we must beg leave to dis.
sent and indulge in littlc criticism. AS
we understand the organization Of our
States, they are composed of certain po
litical sub. divisions, denoted by geo.
graphical limits, and dcnominated Coun
ties. These are far different from Mu-
nicipal Corporations, being quasi politi
cal corporations. True, the area, which
composes a County. may be lessened
within Constitutional limits, by the crea-
ton Of new Counties, by legislative act
The Legislature may thus create new
Counties. but they clothe them with the
power to carry on local County govern
mcnts, and for the purpose Of defraying
the expenses of such local governments,
they have power to issue County Scrip.
This scrip is contract between the
County and the holders Of it, and the OBJ
legation Of this contract cannot be i'm
paired by any act of the Legislature. But
we are told by the Supreme Court, that
State Scrip Is also contract, and that
the ACT authorizing its issue, declares
that it shall be receivable for all State,
County and Municipal taxes, except in
terest-,ax, aud all this is a part of the
contract, and the obligation of this con
tract cannot be impaired. The Collector
is bound to receive County Scrip for
County taxes. because ii Is the obligation
Of the County, but if ho is to receive
State Scrip also, then, in so far, State
Scrip becomes a legal tender, and State
cannot eonstitutisnally make anything
but gold and silver legal tender. " The
provision in tho Federal Constitution
was certainly intended to prevent any
State from issuing paper money TO pass
current to any extent; in other words, to
polling any one but herself to take her
paper money. II the contrary is main
tained, and State can compel Counties
to take her paper money, then she can
compel all persons dealing with the Coun
", TO take tho States money, and the
scope Of its currency is thus still further
extended. In fact, the right Of Counties,
as "intcgial parts" of States, Gin the
sense employed by the Supreme Ceurt)
TO compel the acceptance Of State Scrip
is indisputable on the theory of the
Court. lis own scrip can never be re-
deemed, because nothing comes in bu:
State Scrip. II the County Courts make
any specific tax, payable only in United
States currency, the order will be void,
because it mpairs the obligation Of the
contract evidenced by the State Scrip
and the Collector must take the State
Scrip when rendered. Is it not then, so
far, legal tender aud obnoxious to the
Federal Constitution The Court tell
us that, in the case OF Ramsey VS. Cox,
Judge Searle did not think fit to elabo-
rate an argument ON tho question, as to
whether this State Scrip came within the
definition Of " bills Of credit. The loss
Of the Alexsndrian Library was seme.
thing, but the loss of this " elaborated
argument, is certainly much greater,
II the Col ector can be compelled to take
State Scrip for all taxes, whether ordered
in currency or otherwise, then State
Scrip begins to look much like "prom.
iscs to pay on the faith Of the State pass
ing as money" aud that is what Web
ster ic6nes bills Of credit to be- The
Legislature had no power to contract
that. this State Scrip should be receivable
for any taxes except State taxes. proper,
and the act making it receivable for all
County and Municipal taxes, coHfers
upon it the character Of legal tender
thus far and brings it within the defini-
tion Of bills Of credit. II such is to be
the law, then Counties are financially par
alized. No one will take County Scrip,
for it is useless, except for the payment
of taxes. We, then, see the deplorable
spectacle Of quasi political corporation
clothed with the power to issue obliga.
tions and robbed OF the power to redeem
them. What are such obligations worth