, 1874-03-30


ut all, Int was reaorvod by and to tho pooplo;
that tho power was not consistent with tie lottor
Or spirit Of tho Constitution: TINT, finally,
eucl powor impaired tho obligation OF
contracts. TheHo objections woro urged
by Mr. Potter in an able argument
before tho Court. Chiof-JuBtico ChaBo,
after recalling the rute laid down by Uhiof-Jus-
tice Marshall, and by which tho constitutonallty
Of m net Of CongrosB Is to ho tried, viz. Lot
tho end bo legitimate, lot 1t DO within tho scope
Of tho Constitution, and oil moanB which are ap-
propriato, which aro plainly adapted to that
end, Which arc nos. prohibited, but consistent
with tho 1otter aud spirit of the Constitution,
are constitutional" gave his brothors to Under
staua TINT hia position on tho question wns still
what 1t Ind boon year bcforo, and that ho felt
"obligod to conclude that m act making moro
promisos.to-pay dollars q lega1-tonder In pay
ment Of dobts previously contracted iB not o
means appropriate, plainly adaptod, roally calou-
lated to carry into etroct any express power
vested In CongreHs, is inconsistent with tho
spirit Of tho Constitution, and is prohibited by
tho Constitution"
Mr. Justice Fiold closed bis opinion, in which
he agreed with tho Chef-Justioo, with tho re-
mark that tho noble and patriotic mon who aero
in tho councils Of tho milton during tho Re-
bellion would DO remembered and honored so
long al tho English Language ia spoken or lend
among mon but TINT he WINS not ready to ad-
init that blind approval Of every measure which
| thoy thought essential to put down the Re-
bellion was any evidence Of loyalty to tho
| country. Ho quoted from IN opinion Of Chiof-
Justice Marshall. in which TINT distinguished
| juriat said, speaking Of paper currency:
| Such medium has been always linblo to con-
| siderable 1uotuntion. It's value ts continually
changing; and those changes, often great and
sudden, expose individuals to great loss, are tho
sources Of ruinous apecu1ations, and destroy all
confidence betweon man and man,"
! Yet spite of all these arguments, minority
| Of tho Supreme Court Of the United States held
and VIC will not say that they did not ho1drghtly-
that tho legal-tonder acts were constitutional.
They argued that II Congress- had no constitutional
power under my circumstances or in auy emer-
goncy to make Treasury notoa legal-tender, ltho
Government might be sometimes without those
means Of aoH-preservation which arc indispon-
aable; TINT to hold tho acts invalid as to traus-
actions which have taken place since their on
actmont. waff!d produce great business dorango-
mont throughout tho country and work very
great injustice; that at the tirno when the acts
wore passed tho overthrow Of tho Government
was thron:oned; TINT to prevent 80 great
catastrophe large armies and q largo
navy were necessary, as we'll as sup
ply Of money to IN extent beyond
tho capacity Of oil ordinary sources of supply.
The Treasury at the time was empty, or nearly
co. and the credit Of the Government almost OK
hausted. The taxes raised wero inadequate to
pay ogon the interest On the debt already con-
tractod. 1t WAS neither possible nor convenient
to await tho income Of additional taxea. Twenty
million dollars were due to tho soldiers in the
field. Tho Army nnd Navy Departments do
maudod $4,000, 900. Tho current expenses OF
the Government were 81, 900, 900 day. Foreign
credit thero was mono.
Under these extraordinary circumstances the
legal~tenders were Issued. The circumstances,
in tho opinion of five Justices OF the Supreme
Court, justi1ed their issue. In tho eyes Of foul
others,-aa We have said already.-not even thiE
condition Of arai1a was sufficient to warrant it
II there BIO a doubt about the construction O
tho Constitution in this matter,-ant
: We believe thoro ia, since tho high
est and most 1earnod legal tribunal in th'
: land wero divided in constituting 1t in this in
stance,-we prefer that the beuoflt Of the doub
should bo given in favor Of tho legality Of tht
act, for salus reipublicg sapre.na ler. Certain
1t is, however, that nothing short Of the pros
orvation Of tho country would havo justified
tho measure. Had thoso acta been passed in
timo Of pence; had the notes Of tho Treasur.
l. been made legal-tcndor st any other period II
our history, the iaHuo and the actB would be ovi
IDENTIFY illegal.
However the 1ssue Of tho groenbaokB WAS
temporary expedient, and only temporary. o
the power Of Congroes to retire them and return
to specie payments, there can be no doubt. Iii
duty.
. Let us now suppose that Congress- has retire
every logal.tendor issued during tho War. ant
TINT We have returned to specie payments
a Gould Congress-, having retired the $4o0, 90
a logal-tendors, reissue them again constitution
l.. al1y7 Most certainly not, unloBs, perhaps, th
preservation Of the Government and tile auF
port Of an army aud navy for that purpose do
!, manded It, as they lid when the greenbaok'
+ were issued first. Tho time will come, 1t Ii t
- be hoped, when all the greenbaoks now in circs
]atlon shall have been retired, and, when
. ooulos the power Of Congress to reissue thor
y will certainly have departed.
Now, Congress has not retired the e4oo, ,o0o, OF
legal-tonders. But it did retire, and retire Il
gally, s44, 900, 900. It is difficult to SEQ how
4 can constituhonally reissue the sa4 000, 900 II
| ho md 4l,aki II