New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-03-08

only which is disputed. Inc exercise vi Vha'
power, even during the war, was regarded as
of doubtful constitutionality and doubtful eX-
pediency by very many. But all the weight
of argument which has led to the conclusion
that under such stress of necessity that exer-
else of power was justified, fails wholly 10
sustain new exercise of that power WIN
respect to notes subsequent to the war.
There is some doubt as to whether case
can be presented in such form as to require
the decision of the Court. Both Mr. Chtten-
den and General Butler recognize the fact
that an actual case, one in which the riShiS
and interests OF individuals are Ill reaAl'y at
stake, must be submitted in order to ehclt
decision. No doubt both have considered the
difficulty of finding or preparing case OF
that nature: bat as General Butler is de idedly
comretent to consider the legal questions
thus raised, if it is the aim of both to present
a case in such form as to secure declSon'
the difficulties will probably he overcome.
Whatever the result may be, some decision
on this matter is eminently desirable. Two
crave questions confront Us IN respect to the
character of this currency. These questions
have become so involved with political IN
forests that they re rarely considered strictly
upon their merits. AZ long rs there remains
any doubt whatever in respect TO the VaIuI'y
of the Issue of iesal-tenders, within the lnnl'
of volume existing at the close OF the war, 80
long there viii be some obstacle to the Tree
and most advantageous employment Oh tiat
currency by the Government, II such notes
are to be employed as currency at all, 1t j.
highly desirable for al business interests
involved that every question IN regard
TO their validity should be removed. Behind
this remains the still more important question
rs TO the power Of the Government to Issue
notes IN excess of the volume existing ut the
close Of the war. If that question can De
settled by formal Adjudication Of the Supreme
Cont. very important benefits may be secured.
If seems n?rdly possible that the court can
under any circumstances decide otherwise
than against the cODstitutionalltY OF such
issues, and such decision would most power
fully aid those who are resisting, from motives
of sound public policy or from regard Tor tAe
pubic faith, excessive issues OF paper currency
At the same time it would be well to bear
in mind that in the long run The only reli-
ance must be upon the integrity and lnteln-
gcncc of the people. If they mean to dlsre-
gard the pledges of the public faith or the
dictates of sound reason, sOOnc~ or LATER they
will find a way to overcome even an adverse
decision of the courts. In the end the will OF
the people does prevail under our form OF
government, and not unfrequenty through
changes of the Constitution or through
changes Of the courts by which the Constitl-
ton Is interpreted. 1t Is therefore not well
for those who believe in a sound cnTcrcy'
and defend the public faith, 70 abate tier ei-
forts to promote an intelligent public opinion
upon these questions. As long as we have a
currency resting upon the public faith, so
long will J., be necessary continually to tdp-
cate the minds of voters in regard to that
faith ana to restrict the issues of such cur
rency. So long. too, it will be especially
necessary to reiterate the appeal to the public
honor which viii regard as sacred the pledge
that the volume of the currency shall not eX-
coed an amount fixed, and to that public in
tellgonce which sees that depreciation OF an
excessive credit currency is inevitable.