Year: 1870

the constitutionality. and not many question
the expediency of the Act by which currency
notes have been authorized in recent years.
Doubt exists as to the power of Congress to
declare these notes legal tender in payment of
pre-existing debts.


The enly ground upon which this power is
asserted is not that the issue Of notes was ap-
propriste and plainly adopted as the means
for carrying on the war, for that Is admitted.
but that the making of them legal tender to
the extent mentioned, was such means. Chief
Justice Chase proceeds to argue the question
whether making notes legal tender really ad-
ded anything TO their credit or usefulness.


lie says the history of legislation shows
that the reliance for their circulation was orig
inally placed in the receivability, and not in
the quality of the legal tender notes, because
the receivability clause appears in the origin
al draft of the bill. while the legal tender
clause was introduced at later stage OF its
progress. He thinks il bv no means certain
that the depreciation of the notes would be
less if the Government pledged the holder its
power to compel his creditors TO receive them
at par in payment.


If the quantity TO he issued be uncertain
and their redemption fixed at aremote period.
great depreciation would take place, but if
the quantity only equaled the demands of
business and confidence in the redemption be
strong. the notes will circulate freely, wheth-
er made legal tender or not. 1t is admitted
that some increase of availability is derived
for making the notes a legal tender under new
contracts, it don't follow thatapy appreciable
advantage is gained by compelling creditors
to receive them in satisfaction of pre-existing
debt.


The opinion points out the evils of an ire
deemable paper currency. 1t thinks making
them legal tenders widens their extent, pro-
tracts their continuance; and he cannot al
low, therefore. that such expedient is the ap-
propriate and plainly adopted means for the
execution Of power TO carry on war; but
there is another view by which it appears
nothing prohibited by, or inconsistent with.
the spirit of the Constitution can be regarded
as appropriate, plainly adapted, or really
calculated means to any such end.


After careful inquiry he arrives at the
conclusion that making bills of credit a legal
tender, applicable to pre-ezisting contracts, is
inconsistent with the spirit and letter of the
Constitution which fcrbids legislation impair
ing the obligation of contracts, and prohibits
the taking oc private property for public use,
without compensation. 1t also declares that
no person shall be deprived of life. liberty,
or property, without due process of law.


An Act which compas creditors who hold
contracts for payment in specie to accept cur
rency of inferior value in payment thereof
deprves such persons of property without due
process of law. 1t is difficult to perceive
what Ac: would take property without due
process of law, If such an Act would not.


An Act which makes men promise to pay
dollars in legal tenders for the payment of
debts previously contracted is not means ap-
propriate, plainly adapted or really calculat-
ed to carry into effect any express power
granted to Congress though it IS not sur
prisinG that amid the tumult of civil war,
under apprehensions for the safety of the Re-
public, different view was entertained by
American statesmen and was adopted by
many.


reflection upon the constitutional limits of the
legislative or Executive authority, but the
power was assumed from patriotic motives;
and the assumption found ready justification
in patriotic hearts. But many who then &C.
quiesced in view of our necessity, since the
return of peace, in calmer times, have re-
considered their opinions, and now concur in
the views here announced that the Legal Ten
der Act cannot apply to pre-exi,ting con-
tracts.


Judge Miller. after arguing the case at
great length. says the legal tender clauses
were placed in the bill reluctantly and with
hesitation, and only after the imperative ne
cessity oft had been demonstrated. Now this
necessity which alone could have carried this
clause, also proves clearly the existence of
that necessity. He refers tn the power of Con-
cress to establish system of bankruptcy, the es-
senta of which is to discharge debtors from
the obligation of pre-existing contracts. He
delares tie argument to be too fine for his
b, which the indirect effect Of
new public measure. in depreciating the value
of lands, stocks and bonds. renders such a
law invalid as to the taking Of private proper
ty for public use. or depriving tie owner of
them without due process of law. These
laws have been received as valid with almost
universal acceptance, and payment has been
made in legal tenders to the amount of thou
sands of millions of dollars. though gold was
the only lawful tender when the debt was



The two houses Of Congress, the President
who signed the bill, and the fifteen State
Courts of last resort, being all but one that
have passed upon the question, have express
ed belief In the constitutionalty of these laws.
With all this great weight of authority. and
this strong concurrence OF opinion among those
who have passed upon the question before we
were called upon to decide it, whose duty it !
was to pass upon it in the light of the Consti-
tuition, we are to reverse their action. disturb
contracts, and declare the law void because
the necessity for its enactment does not ap-1
pear so strong to US now as it did then to Con
gress, or so clear as it was to other Courts.


Such is not my idea of the relative func-
tions of legislative and judicial departments
of the Government. Where there is a choice
means, the power of selection is with Con-
gress, not with the Court. If the Act to be
considered is in any sense essential to the ex-
ecution of acknowledged power, that neces-
sity is for the Legislature, not for any Court
to determine.


HARD ON THE DENrIsr-A Young man
went to DR.. Weigel. recently, to get bad
tooth pulled. The first tooth the doctor null
ed was a sound one. He pulled again, and
finally got the right one. Said the fellow
mime Gott, no pays you for de goot one
you got your drubles for noddirgs. ."-Roches
y,