Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1898-11-04

N"Hcc, Stal'u INC lTlnclplc lOr which
we contend more clearly still. said
he:
1t follows rs corollary from these
views that it makes no difference in
the principle Of the thing, that the
contract of the debtor is a specific en-
gagcment in terms to pay gold or sill
yer money. So long as the money OF
the country, in whatever terms de-
Scrihcd, is in contemplation Of the
parties, it is the object of the legal
tender laws to make the credit of the
government substitute therefor.
Specific contracts may be enforced,
unless rcSorted to for evasion. If
money is intended, the law reaches
the case"
Congress may limit the operation
OF the law, but if it has not done SO
specific promises to pay money in
specie are just as much subject to the
operation Of the law as the mere prom
ise to pay so many dollars"
The principle thus announced by
the Supreme Court is not new doc
trinc. 1t is as old rs the mixed money
case of England, in which Sir Matthew
Hale and the other judges considered:
Cd That in every commonwealth
it is necessary to have Il certain stand
ard of money, because no common
wealth can exist without contracts,
and no contracts without EQUALITY,
and no equality in contracts without
equality in money. Money was in
vented not only to facilitate commerce,
but to reduce contracts to an equality
Money is mensura publica, and every
thing ought to be measured by the
money issued by the government, not
part, but all OF it,"
(2) 1t appertains only to govern
mcnt to issue money, and when issued,
for any person to refuse it in payment
of any debt is to be guilty of high
treason.
(0 1t is prcrogative OF govern
ment to put price or valuation on all
its money, and to change the standard
at will.
CD Writs of execution should 60,
not to levy the debt of any particular
kind of money, but only such money
as shall be current in the country at
the time OF execution.
The doctrine of the Mixed Money
case is the same as that of the Legal
Tender cases.
1t is not every contract that is en-
forcible in the courts.
One may not contract to commit II
crime.
One may not contract to violate the
law.
One may not contract in violation
OF public policy.
Gold contracts are obnoxious i'll n
sound view of the law, as within all
of these forbidden classes of contracts
Section 1888 of the Revised Statutes
of the U. S. declares that the green
backs shall be "lawful money, and a
legal tender in payment of all private
debts" This is the supreme law of
the land. No one, not even the Su-
preme Court, has the right to nullify
this law, or to set up another standard
or measure of values from that Or
dained by Congress, to which body
this authority has been confided by
the same power to which the Court
owes its existence-the Constitution OF
the United States.
Under the laws, as now administered
there is one kind of money for the
common people, and another for the
idle holders of idle wealth. Nay,
under present Interpretation, it is
possible for the bankers and corpora
ton and other crtditors to stipulate
for the payment OF debts in English
sovereigns, or to make foreign coins
a standard OF value here. What will
it profit us to restore silver to free
mintage if creditors be allowed to con-
tract against it?
TO summarize, the present legal
status is thus:
The statute authorizing the present
issue of greenbacks provides that they
shall be legal tender for all debts,
save interest on the public debt.
The Bland law made silver full
legal tender, save where otherwise
stipulated in the contract.
The act of 1890 made the Sherman
notes full legal tender unless other
wise provided in the contract.
The Supreme Court has ENACTED
that the creditor may specifically pro-
vide for payment in gold coin.
The Treasury Department, by execu
tive usurpation, has practically re-
pealed the legal tender quality of both
silver and paper, and ENACTED that
gold alone shall be the solvent of all
debts.
Thus is the gold monopoly en-
throned!
The statutes, in so far as they per-
nit stipulation by private contracts
against any Of the national currency,
are evil, and should be repealed. The
extension of the vicious policy by
executive and judicial usurpation is
anarchistic and revolutionary, and
must be rebukcd. This is vital to the
public welfare. and to the preserva-