THE TRUTH ABOUT MONEY, and How to Present in COURT ****See: description*** RR~EE 2023 06 28
A coin dollar is worth no more for the purposes of tender in payment of an ordinary debt than a note dollar. The law has not made the note a standard of value any more than coin. It is true that in the market, as an article of merchandise, one is of greater value than the other, but as money -- that is to say, as a medium of exchange -- the law knows no difference between them.
95 U.S. 694 (1877) - Supreme Court
Ling Su Fan v. United States, 218 U.S. 302 (1910), establishes the legal distinction of a coin bearing the "impress" of the sovereign:
These limitations are due to the fact that public law gives to such coinage a value which does not attach as a mere consequence of intrinsic value. Their quality as a legal tender is an attribute of law aside from their bullion value.
Under the Act of May 31, 1878, c. 146, which enacts that when any United States legal tender notes may be redeemed or received into the Treasury, and shall belong to the United States, they shall be reissued and paid out again, and kept in circulation, notes so reissued are a legal tender.
issued under the Acts of Congress of February 25, 1862, c. 33; July 11, 1862, c. 142, and March 3, 1863, c. 73, passed during the war of the rebellion, and enacting that these notes should "be lawful money and a legal tender in payment of all debts, public and private, within the United States," except for duties on imports and interest on the public debt. 12 Stat. 345, 532, 709.
under the
Page 110 U. S. 438
Constitution of the United States, be a legal tender in payment of such debts.
Upon full consideration of the case, the court is unanimously of opinion that it cannot be distinguished in principle from the cases heretofore determined, reported under the names of the Legal Tender Cases, 12 Wall. 457; Dooley v. Smith, 13 Wall. 604; Railroad Company v. Johnson, 15 Wall. 195, and Maryland v. Railroad Company, 22 Wall. 105, and all the judges, except MR. JUSTICE FIELD, who adheres to the views expressed in his dissenting opinions in those cases, are of opinion that they were rightly decided.
The elaborate printed briefs submitted by counsel in this case, and the opinions delivered in the Legal Tender Cases, and in the earlier case of Hepburn v. Griswold, 8 Wall. 603, which those cases overruled, forcibly present the arguments on either side of the question of the power of Congress to make the notes of the United States a legal tender in payment of private debts. Without undertaking to deal with all those arguments, the court has though it fit that the grounds of its judgment in the case at bar should be fully stated.
# No question of the scope and extent of the implied powers of Congress under the Constitution can be satisfactorily discussed without repeating much of the reasoning of Chief Justice Marshall in the great judgment in McCulloch v. Maryland, 4 Wheat. 316, by which the power of Congress to incorporate a bank was demonstrated and affirmed, notwithstanding the Constitution does not enumerate, among the powers granted, that of establishing a bank or creating a corporation.
The people of the United States by the Constitution established a national government, with sovereign powers, legislative, executive, and judicial. "The government of the Union," said Chief Justice Marshall,
"though limited in its powers, is supreme within its sphere of action . . . and its laws, when made in pursuance of the Constitution, form the supreme law of the land. . . . Among the enumerated powers of government, we find the great powers to lay and collect taxes; to borrow money; to regulate commerce; to declare and conduct a war, and to raise and support armies and navies. The sword and
Page 110 U. S. 439
the purse, all the external relations, and no inconsiderable portion of the industry of the nation, are entrusted to its government."...........
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