New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-12-17
MIR. CHlrTENDEN on FINANCE.

fore them.
MR.. CHiTTENDEN ON FINANCE.
TIE MOVEMENT FOR THE REPEAL OF THE LEGAL
TENDER QUALITY OF THE GREENBAcK NOT TO
Br ErPREssED-A DECISION By THE SUPREME
COURT NEEDED.
[BY TELEGRAPH TO THE rRIBUSEl
WASHINGTON, Dec. 16.-1he Hon. 5. Il. Chitten-
den has been asked by TRIBUNE correspondent
what prospect there is for action by Congress in re-
gard to the repeal Of the legatender quality of the
grecnbacks.
He replied 80 am thoroughly convinced that the
leeal-tonder question cannot be suppressed in Con-
gress Mr. Bayard is very resolute and confident
that he has proposed measure which should have
the appreciation of every statesman IN and out OF
Congress and of every upright politician 1t is evil
dent that his resolution will be reported 10 the
Senate favorably otherwise, aud that he Will
have opportunity TO speak upon IT. II he does
60 speak he is certain. IN my Judgment to arouse
the intelligence and patriotism Of the people TO his
truthful position. Neither the question be kept
out of the House. Mr.. Hurd. OF Ohio, and Mr..
Lounsbory. of New-York. both Democrats, have
each proposed bill for the repeal of the legal-ten
DER clause of the greenback law. They are both in
earnest in pushing them.
1.-The great majority of the Democrats and Re-
publicans in the House are alike timd and for the
moment talk the policy of Let well enough alone.
My own belief is that most OF them in both parties
will find some escape from their present attitude
soon after the close of the recess of Congress.
Il believe" Mr.. Chittenden continued, THAT
the bloody shirt is driven ont of politics already
and that when we get tho lega-ender ont the civil
war will bo over and there will be some chance Of
Congress being so constituted that it can attend to
IFS legitimate work. | have no expectation, how
ever, that Congress will do anything at this ses-
SION with the Presidents and Mr. Shermans recon-
mendations except talk about them. hope that
the debate will prove embarrassing TO both parties,
so much so that majority of both VIII quietly, If
not actively. pray that the Supreme Court will take
the question Immediately in hand and dispose OF 1t
before the Presidential nominations are made.
nave so far found no person who could give piaus-
ibe reason against or an objection TO the immedi-
ate settlement of this question by the Court other
than those suggested by pure personal party pol
itics. Nobody can show how an immediate decision
in this case could harm any human being or ill.,
terest.
"AlI VIC seek is TO put the legal-tenders on par
with the National bank notes. They certainly
no better The legal-tender act as it stands supple
mcnted by the act of May, 1873 is libel upon
Alexander Hamilton and all his associate trainers of
the CONSTITUTIONS Ii requires the Secretary of
the Treasury, whenever he redeens greenback
dollar and to the extent that he redeems greenback
dollars. TO force other loans from somebody for an
canal amount This Is strictly the law and il is adj
n,;n,stered accordingly. Now then | say that the
paople want 10 know right away whether this law
is in harmony with the Constitution. II 1t be so IL
is perfectly clear that the Constitution permits the
Government TO coin money out of anything and
10 any extent.
For one can see no reason why any member of
Congress should hesitate to grapple with this Ques-
ton or deny that this is most favorable oppor-
8 IL. L..
Of Calhoun or Webster now in Congress. trust
This question will bring them out early next year.
II we are TO have honest money for the next ten
years. there is no time TO he lost"
What asked the correspondent. would be the
effect upon National bank reserves II greenbacks
were declared not to be legal-tendersf Would the
hanks not be compelled TO send their greenback
reserves 10 the Treasury aud draw the coin for
them'"
No. sir" replied Mr.. Chi:tenden; the Ma
tional bank notes are better than the greenbacks,
anywa;, having positive security The gTeenbacks
held as bank reserves will always be legal-tender
until they are presented to the Treasury for re-
dempton." ,o.o...o,. ,,,o.
the Supreme Court will not touch the question on
the ground that il is q moot case Z
" None whatever; ii is not moot case, but as
true a case as can be found, The story is without
the shadow of foundation"
II Congress shond repeal the legal-tender clause
of the Greenback law, would there ne without de-
cison of the Court upon The constitutional qucs-
ION any Safeguard against reissue under some
new law upon emergency or whenever the
InlatIouisis should fad themselves strong enough
10 carry their ends 7"
There would be no safeguard against reissue
of CIeenbacks. have no hope in Congress, Long
before it repudiates. by majority the he, wei
enough alone policy some eXigency Will arise TO
encourage aud reinforce the fiat money people.
Sooner OF later the Wesvers of Iowa Will get their
$500 900 900 for their 900 petitioners unless we
are saved by the supreme Court.