The representative. [volume] (St. Paul, Minn.) 1893-1901, 1896-10-07
AN IMPORTANT DECISION.

COED coNTRATs CANNOT BE EN-
FORCED.
We have received the following let.
ter:
Editor Representative:
Your reply to MIR. B. T. Warren, of
Lakewood, in regard to gold mort
cages was OF great interest to me- and
enclose an extract from an article
by Alexander De!Mar. in the Aurora
1ll.) Blade. which l think ans wers Mr..
Warrens question fully. Yours re-
spectfully, II. w. Mills.
Wheaton, Ill.,, Sept. Is. 1896.
The extract referred to is as follows
Although certain acts of the United
States and the state of New York ap-
pear to render it feasible to make CON
tracts specially payable in gold coins,
such acts are unconstitutional and
such contracts ultra uireS. The banks
and insurance companies need no in-
formation on this subject, and it is
safe to assume that they have no in
tention to pay in gold coins, should
either OF them command a premium
in paper money.
The unconstitutionality Of special
contract loans flows from the prin-
ciples Of both the civil and common
law. as laid down In the celebrated
case of the Mkt Moneys" Of which Il
very full summary appears in the
Money" second edition. Here the
Privy Council decided. by reference to
authorities which covered the entire
field Of Jurisprudence, from the time
OF Augustus to that Of James 1 Of
England, that all contracts for money
are payable in the current money of
the day and place of payment.
The code Napoleon, Book iii, Tit x,
art. 1895, says: debts are payable in
the denominations Of money mention
ed in the contract. Whether there
has been an increase or dimunition OF
money previous TO the time of pay
ment (of a lOan), the debtor must re-
turn the numerical sum lent, but is
only bound to return such sum ia the
money current at the time Of pay
ment." The Italian code says the
same. The recent decision of the
United States supreme court in the
case Of the Mississippi levee bonds is
to the same effect. The bonds. though
couched in gold coins, are payable in
current money. When the principles
of law which governed Rome and still
govern England, France, Italy and
the United States, are overthrOwn, it
may be practicable to enforce domes-
tic contracts in special moneys. But
that day will never come. The con-.
troll OF money is regalian prerOga-
tive; it belongs to the sovereign state;
1T is essential to its autonomy; it is
necessary to civil liberty; and he is
traitor to his country who would seek
to undermine it with special con-
tracts or any other device.
Alexander DelMar.
This decision will bring JOY to
thousands. 1t does away with the
terrorzing sought to be practiced by
the money-lenders, and by which they
are striving to make those in debt
vote for Mckinley and mono-metal-
ism.
II the question ever comes to adju
dication the entire debtor class Of
this country should unite and contrib
ute to the employment of the best
counsel in the nation, and fight it out
to the death. THE REPREsENTATIvE
will be glad to act as an agency to re-
ceive contributions for that object.
The first bill the new Congress
should present to President Bryan to
sign should be bill to repeal the act
Of 1878; and to make it penal offense,
punishable by imprisonment, for any
citizen to seek to discredit the legal
tender money OF the nation. If lot
Of these scamps got inside the state
prison they would begin to realize
what the despised fiat" OF govern
ment meant: and they might be will
ing, thereafter. TO breathe the com
mon air Of the country, without get
ting up tricks and "chinches" on their
fellow men.
Don't be scared, friends. These
devils are not going to devour you.
The nennle rule this cnnntrvIet