Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-06-20
what the suprsue Court peolded.


The Atlanta Constitution quotes our
statement that the Supreme Court OF the
United States has heretofore decided
that the 10 per cent. tax Is not an I'M
constitutional tax, but that paper SEEM
ingiy comedies that II is not itself IN
formed in the premises, and proceeds
to quote from another paper. not the
facts OF the case. but an argument IN
tended 10 show that our statement was
not absolutely correct. The Constitution
viii please read the following language
of the Supreme Court That august tribu-
nal says:
Having thus In the exercise OF undis-
puted constitutional powers undertaken
10 provide a currency for the whole
country. II cannot be questioned that
Congress may, constitutionally. secure
the benefit OF II to the people by appro-
pirate legislation. To this end Congress
has denied the quality OF legal tender 10
foreign coins and has provided by law
against the imposition OF counterfeit ana
base coin on the community. To the
same end, Congress may restrain. by
suitable enactments the circulation as
money OF any notes not Issued uhher
Its own authority. Without this power.
indeed. its attempts 10 secure sound
and uniform currency for the country
must be futile"
Here the question Is fully met. The
Court expressly declares that Congress
may restrain by suitable enactments the
circulation as money OF any notes not
issued under It's own authority
Mr.. Springer, OF Illinois. in his late
able speech in the House Of Representa-
tives on the currency question declared
that this decision did not emanate from
Republican court, as some persons
supposed. lie said:
at was pronounced by Chief-Justice
Chase. who, except on the slavery ques-
ton, was a Democrat. On the bench his
associates were Mr.. Justice Nelson. APP
pointed by President Tyler: Mr.. Justice
Greer. OF Pennsylvania. appointed by
President Polk: Mr.. Justice Clifford. Of
Maine. appointed by President Buchar an
In 1858; Mr.. Justice Swayne. OF Ohio. ap-
pointed by President Lincoln; Mr. Justice
Miller, appointed by President Lin
coin: Mr.. Justice David Davis. APP
pointed by President Lincoln. and
Mr.. Justice Field, appointed by
Mr.. Lincoln. That was the court.
The dissenting opinion was made by Mr..
Justice Nelson and Mr. Justice Davis.
The other members of the court concur
red in that opinion"
Thus the law Is written. II Is a valid
law. Nobody expects the Supreme Court
to take the back track on this question.
On the contrary, it is much more likely
that that tribunal will ere long reverse
the old decision and decide that the States
have no power TO charter banks to issue
bills of credit or circulating notes
1t is fortunate that the fathers Of the
republic incorporated into the Federal
Constitution, as they did, the following
provisions:
1.-The Congress shall have power . TO
coin money. regulate the value thereof
and Of foreign coin"
II they had not done so, the strict con-
structionists and hair-splitters of the
present day would have denied the
power OF Congress to coin money or regu-
late the value thereof or OF foreign coin.
They would have argued that the Federal
Government had nothing to do with coin
ing money or regulating the value there
Of: that for that government to NEEDLE
with the matter in any way whatever
was to perform the functions OF "A pater-
nal government watching over and guard
ing the welfare and supervising the con-
tracts of its children.
Here let the reader ask himself why
the trainers Of the Federal Constitution
thus tied the hands Of the State govern
ments in the matter of coming money II
they intended to leave the States free 70
issue notes as currency? But the States
were not left free; for no State can issue
bills of credit. But the Federal Govern
ment can issue bills OF credit. And both
descriptions Of notes Omitted States notes
and notes Of the national banks may be
properly described as bills of credit.