Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1897-07-22
SILVER FACTS FOR LAWYERS.

make ready replies concerning the laws
of the land which most nearly affect the
business community. The opponents
of free silver coinage are the most
densely ignorant people Of the whole
country on the subject of the money
system of the United States. Our
great bankers, heads of corporations
and syndieates, officers and members
of commercial bodies, and so-called
sound-money politicians are filled with
grossly erroneous impressions con-
corning the laws of the United States
affecting our money system. Inc
statutes of the United States are print
ed from year to year in a book, and
every lawyer has a copy Of it on his
shelves. For the information Of those
lawyers who have not taken the trouble
to look at these laws, and there are a
great many such lawyers high up in
the profession, we Will state the follow
ing facts:
/. No bond of the United States is by
law payable in gold coin, but on the
contrary, every bond Of the United
States is distinctly made payable in
any coin of the United States either
gold or silver, of the standard value
which prevailed on the 14th Of July,
1870 This fact is stated on the back
of every bond of the United States in
existence.
,. Until 1869 every bond Of the Uni
ted States was payable in gold or silver
coin or legal tender Treasury notes at
the pleasure of the government They
were expressly made payable in the
several acts of Congress which author
lied their issue.
3. No Treasury note of the United
States is now or ever has been payable
in gold coin. All such notes wereMpade
payable at the time of their isS4"SN in
whatever were dollars" und{ bur
law. The resumption act of1Sl5. Which
fixed the time when their redo mption
should begin, made them payable in
coin of either gold or silver from the
first of January, 1879.
4. Silver dollars are by law an I'M
limited legal tender in the payment Of
all debts, public and private.
). National bank notes are redeem
States. and of course this includes
greenbacks No national bank is re-
Guired by law to redeem any of its
notes either in silver or in gold coin.
s. There is not in any law of the
United States. either directly or by any
inference however slight, any require
ment that the United States shall re-
deem any bond or note in gold coin in
preference to silver coin. Silver coin
is a full redemption money, and may
be lawfully used in payment of any OBJ
legation by the United States.
Z. No taxes or duties on imports are
payable to the United States in gold
coin. Internal taxes may be paid in
gold, silver or greenbacks. Duties on
imports are payable either in gold or
silver. or silver certificates. but not in
greenbacks.
8. The "coin" notes of the United
States issued under the Sherman pur-
chase law are redeemable in gold or
silver coin at the option of the Secre-
tary of the Treasury, and such is the
language of the law under which they
are authorized. They were issued sole
" for the purchase of silver bullion.
Any intelligent clerk in any law Of
fee can easily turn to the statutes and
find the volumes and pages on which
the laws are printed which are ABOVE
referred to.
If a man agrees to deliver gold coin
by a written contract for what he
deems a sufficient consideration be can
be compelled to keep his promi. ., and
1, Io n p1 four
leaf clover or the coins of any cOun-
try of any particular denomination and
date So he can if he agrees to deliver
a white elephant or a Bengal tiger.
The specific performance of contract
is entirely different from the payment
of a debt A failure TO perform a spe-
cifc contract subjects a man to suit
for damages. The damages are as
sessed in money. A failure to deliver
a thousand dollars in gold coin would
subject a man to damages in the sum
of one thousand dollars, and he could
pay the damages either in silver coin
or in greenbacks. 1t is not to be sup
posed that any court of justice would
recognize any commercial usage which
would make a gold dollar worth any
more than a hundred cents, or silver
dollar worth any more than a hundred
cents.
viii some practical business man
carefully read all of the foregoing
statements, and then ask his lawyer
whether or not they are true, and
then ask himself under what rule of
business and fair dealing any man
could be compelled TO pay gold coin
under an agreement to pay either gold
or silver at his own option? And also
under what rule the United States gov
ernment must pay gold in redemption
of notes and bonds which by law are
made payable either in gold or silver
at the pleasure of the government.
Then. as a matter of common sense,
we would like to inquire why the gov
eminent should not insist upon being
paid everything in gold if it is expect
ed to pay all its obligations in gold.
What obligation is there on the part
of the government to pay gold to in
dividuals, in the absence Of an agree
ment to do so. unless the individuals
are also under an obligation to pay
the government in gold, in the absence
of any agreement to do so?
There is no provision of law in the
United States statute hook under which
the government can acquire any gold
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