The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-03-22

whether man object, 10 It or not, but by
The promise Ia redeem u In coin and r..
o,iya Il for all government dues.
The old greenbaoEsra are ,oming out Of
/ lelr holes ogala since the declhion q. \
Supreme court Of the United States, "a
Gently, declaring constitutional the legal
tender act OF 1878 % he ACT 10 prohibit
the reduction OF the tiaount Of the old legal
tenders. In other words, Tho supreme
cour, declares that the government may
itsue and redeem and reissue and yet Ggain
reissue without any special basis, or Wiih-
ont predicting the notes upon any basis
but tho governments will, legal tender
notes or paper money. The decision has
virtually endorsed by judicial determine.
ton the greenbaok pollcv, and many Of the
more solid and conservative statesmen aud
fnanciers and business oen,eTg have be-
come alarmed a! the possible reeults OF this
court decision.
IL Is refreshing, therefore, TO turn 10
JuDoR FIELD's dissenting opinion aud hear
a sounder aud a safer doctrine and
one more In accordance with the Vows
and sentiments Of The people OF the United
States on this subject of money. He holds
that the government has no constitutional
right to issue irIedeemable legal tender
notes as q substitute for gold ard silver,
but that Il can only give paper medium u
constitutional or fafe value In tho manner
we hav, indicated, by receiving 1t for oil
government dues aud promising 10 redeem
II upon presentation or within stated
time In coin. The ruling or majority opin'
los declares that IL IA not only In TIL power
o, congress TO make the notes Of the gov
ernmeut legal tender, but that under
the power TO coin monsy and regulate ito
value, congress msy ISSUE coins Of the same
denomination as those now current, but
OF less intrinsic value b. reason OF contain
ing Ices weight O! the precious metals. sud
compel creditors 20 receive them IN dis-
oharg. Of debts,
Briefly, the line OF argument By which
Mn JusTlce FIELD attacks, and, to our
mind, successfully reiutes che dan
gerous and far fetched opinion
Of the majority, 70 that undoubtedly
the power to borrow includes the power to
give evidence Of the loan in bonds, treasury
notes, or 10 such olber form as may oe
agreed between tue pariieJ. These mag be
Issued ia such amounts Us Will no them for
and for that purpose may be
made payable TO bearer and transferable by
delivery. Experiences has shown that the
form best fitted 20 secure thelr ready sc
ceptnncs is the, o notes PAYABLE to bearer
In such amounts o. may sult the ability oil
the leader. In all this matter there 10 only
q dealing between the government and the
individuals who trust Il. The transaction
concerns no others. tins power which author
yes it is u very different one from power 10
leal between parties 10 private contracts
n which the government is not interested,
Mi TO compel the receipt Of these promises
o pay in place OF the money for which h
contract stipulated This latter power i
lot an incident 10 the former; it lie dis.
met and for greater power. There is no
gal connection between tho two, between
he former, to borrow from those willing 70
end and the power 10 irierisre gish the
contracts o. Others. The pos
esAion 81 ,bia latles power FoGld nos JUS.
ity lhe interference OF tho government
Nth any right OF properly OF other parties
inder tine presense that It's allowance 10
he holders OF the note. would lead 70 their
more ready acceptance, and thus furnish
hs needed Eaeana.
Neither uoes the power yessed la cooFs1s
o coin money fortiiy The poatios OF she
curt, Ia the Judgment Of shs as,snting |
ustics. 80 far from dedusng rom that |
over any authority TO impress 40 notes
( the government with lhe quality OF Legal
ender, Its existsncs seeHas to him inconsis-
emit with the power TO make any shing but
DIN legal tender.
1t is in many respects unfortunate that
his opinion Of the supreme court was deiv-
red ut this particular time. The financlers
4 congress a-s graphing with tho vexstious
,.nk and money problems OF the day, more
aud important now than they have
or wears been, and such g dangerous doc
rine from 30 high tribunal. turned loose
ipon the cropping aud unssttled thought Of
he tins, may have tho tendency to work q
Iouble mischief JuDoB FIELD, however,
las thrown tho weight Of bis |
,reat learning and name against |
he rest of the court ard |
hereby kept The matter still an omen ques
ion. 1t 10 not unanimously or even dofn.
tely settled yet. and may be expected, as
be iatter Judge remarked, to continue 10
ONE before the court for adjudication
The dissent leaves tho question eth open.
This dissenting opioion is pronounced one
4 the ablest expositions OF the law that has
ono from the supreme bench in many
ears, and will certainly assist in holding
ne gres. mass of the legal, as well as the
Ion-legal minds, to the old faith OF thu
athers" in this era OF Grade and changing
financial policies.
FRANcE's threa. TO send an armed force |
nto that little but Oldest republic Of modern |
mes, Andorra, will be received by the
.l;,ad ~vnrid uuit n q m, N at in fauohi If,s