The Sun (New York) Newspaper, February 8, 1870, Page 2

At Whines for All. TUESDAY. FEBRUARY ents To-day, Apolie Wall Mor Toots Theatre * Minstrels Shoo Py. Now York Citeas T ymple Theatre - Fox |v two charscters. ‘anclseo Minat rola, 1¥ = The Seven, A Wuseurm Fass, th and after Tuesday, Mare teing in Tre Dairy Sus will be 40 cente per ine. Phe WrixLy DoLtan SUN has now attained a lib: eral cirenlation, whieh justifies an increase tu the ad- On and after Marelt 1, the price will . the price of adver- vortisina rates be 5O cents per line. The daily cireutation of Taw BUN during the last week, which ended on Saturday, Feb .100a aa foltoice : Average daily circulation during he weck, previous wee ), 86,133 dai’y. there be T wo Democratic in New York? Mr Antion, and their Demo- informed Gov, the other day, that if an ex post sacto law was passed with tho intent to confirm the il- legal appointment of Hexny Siri as Supervisor, the disaffected Democrats would nom‘nate an independent ticket for State officers next fall, and do their utmost to defeat the regular candidates. know whether it was the weight which the Governor and his Attorney-General gave to the legal and constitutional arguments of the ANTUON Committee, or this threat to put a second Democratic State ticket in the field, but it is evident that something has brought the Albany Regency to their senses. interior counties as many of the Regency do, they are aware that the rural Democracy desire that tue great historical party to which they belong should now be reconstructed on a basis more in ac- cordance with the progressive spirit of the s. They desire also that it should be eo marshalled ag toattract to {ts ranks the lib uente which, now that the mission of the Republicans is completed. are )i! Hailing from the Sumner, and >to support the preservation of elavery domination in this hemisphere too, that no plan could be de euggrested by this Committee for temporarily prostrating of New York, thereby compelling its subsequent reorgaui vation, reinforced by new allies and led by new men, thus giving it a fair prospect of achieving power in the nation, They know, eney are versed in the history of therefore know that third partics, so called, hare been a common type ties, end Indeed were ite chronic Condition from 1927, when the Antj-Masons first arose, down to 1857, when the Kuow Nothings finaliy disappeared, The two leading parties of this State have always been torn by factions within their ‘Their earher annals were disfigured by the quarrels of the Burriter, the Martling men, the Quids, the Clintonians, the Buck- men ; while the later parties have Leen distracted by the contests the Abolitionists, the Haunkers, the Barnburners, the Silver-Grays, and the Know. The history of these factions is instructive, and bears closely upon the present condition eleven of the fiteen Governor's elections between 1828 and 1556, three and sometimes four State tukets were ‘These third-party nominations always threw confusion into the ranks of the regulars; and on six oceasions they broke party, enabling less voters to elect a State should be remembered that Vax Benen and Wiser of the Democracy, Youne and Pisa and Kine of the Republicans, were minority this State, and tails, and the Podple’ of the Anti-Masons, in the field. than @ majority of thi Within the later period to which we have referred, these various factions have tour ely prostrated one and the other of the two leading parties as to neces- sitate their reconstraction out of new mate- rials, upon a new basis, by new bands, proof of this, we need « times #0 comp) ly refer to the forma- tion of the Nationg! Republican party in supported Apams, and of the 1825, which posed of Jeffersonians, Clintonians, and Fed- eralists, the fragments of old organizations, Bo, too, the Whig party, formed in 1528, and Republican party, in 1855, wore composed of incongruous elements which had crumbled away from other parties, And when wo contrast the materials which now make up the Democratic party of New York with those which gave it power and prestige thirty-five years ago, it is evident that the mutations of time have wrought great # in its organization, lise reminiscences establieh portant proposition First, that disaffected polit cians in New York have been wont to Volt regular nominations, aud set up inde- Pendent cundidates for State offices ; second. ly, that such tectics have often proved pow: ful enough to temporarily overthrow the Ove party or the othex; and thirdly, that at four epochs within the memory of men now actively engaged in politics, these defections n so formidable in vumbers and 60 skilfully managed a6 to necessitate the re. organivation of the yroat parties of the coun- In the present demoralized condition of the Democracy and the Republicana, do uot je facts challenge the careful atweution of asgnmo to lead those pases? No Norvsan and Attorncy-Gon wonder Qoy ora) CHAMPLATN were alarmed atthe thi of the Founy-Antiox Committee. W6 doubt not that Gen, Grant and Sotretary Fist would be quite as much frightened by 4 similar demonstration in behalf of the Re publican party, Indeed, nothing would be casior than for the disgusted, disappointed, and disaffected electors in each party to raise the standard of successful revolt, and either compe! thefr reorganization ona sounder and broader baels, or, hy a anion of theso disin tograting elements, to ultimately produco a new party which might control tho affairs of the nation till the close of the present cen. tury. a ViersAdmiral Porter's Usurpations. The accession of View Admiral PontEn as chief of the Navy Department has already enused great detriment to the service, Until his voice became powerful at Washington a gratifying caprit de corps prevailed among naval officers, whether of the lino or staff. Indeed, the distinction between line and staff was scarcely ever mentioned. In the ward- room=the family circle of # man-of-war—all was harmony and kindly feeling. Our vee sels of war were modcls of discipline and effectiveness, because the officers worked to- ether to promote the good of the service. Abroad they were reyarded by professional judges in other navies as the most efficient ships afloat, But that Is all past. Where once harmony and good-fellowship prevailed, dissension and disconteat have erept in, and turnod the pleasant ward-rooms {nto arenas for acrimo- nious discussion of questions that would never have arisen thero had not the Vico- Adm unwisely opened the long scttled subject of relative rank. His General Or. der No. 120, reducing the raok of the staff officers, and unjustly discriminating against them in the matter of pay and emoluments as well as of rank, outrage] the sense of ju tice of a large body of officers. The line was left untouched while the staff was treated withignominy. Of course, thia injustice was not submitted to in silence. The relative merits of the two div sions were investigated and discussed ; crimivations and recrimina- tions followed, until the line and staff were engaged in open warfare. ‘The families and friends of the partics now join in the quarrel, and their gocial relations are frequently to- tally destroyed, In addition to the wrong done the active officers, Admiral Pontrn has injured the sick and maiméd officers on the retired lst by usurping a power that belongs to Congress alone. The effect of his order has been to change the pay of a number of these officers, who unfortunately belong to the staff alone. Fourteen surgeons, who received as captains on the retired list £1,600 a year, now receive only $1,400. Fourteen paymasters and two chief engineers suffer the same loss by being reduced from the rank of captain to that of commander. Ten surgeons have been reduced from the rank of commander to that of lien- tenant, and their pay has been reduced from $1,100 to $1,000 per year, No line officer is aifveted by this order. Where Admiral Porrrn finds authority for this act we arc at a loss to know, for Congress alone has the power to alter the pay of officers and men. While reducing the pay of old nnd faithful retired officers, he wastes millions on fancy engines and the ailly alteration of old vessels, nd destroys the spirit and efficiency of the Navy. How long is he to be permitted to in- dulge tn these usurpatious icosesisoilabsiaepienns The Spanish Bank tm Havana. With pleasure we publish the following telegram re¢eived by us yesterday from the Direetor of the Spanish Bank in Havana : Havana, Feb. 5, 1870, To the Battor of The Sun, New York. Sin: The Director of the Span'sh Bank in Havana presents his compliments (0 you, nnd bas the plessare to that the bids of th stablenment same vilne as gold, and that no banker, merehi or lanced pro rietot hus reluted to admit them; tut the ‘bank are quoted at &2 per cont premium, whieh is Justited by ite eredit, and oufderice lnepirgd be sovernment, and ‘ne § alarm whic uN Cauwed is purely imaginory, 1 beg» reetifieation, (oigned) PUENTE, The telegram from Havana on which w based our article of the 24th ult., and which telegram we copied in our edition of that day, stated tliat “ bankers and merchants had de- clined to reeeive Spanish Bank notes in pay- ment of bills of exchange and merchandise.” And, inasmuch as for more than eighteen months or two years it has been customary for merchants and bankers in Havana to stipulate that half tho proceeds of any sale mare by them should be paid in gold, Mr. PenNTé must excuse us for doubting the en- tire accuracy of his reply; and ty this con- clusion we ere confirmed by the following additional reasons 1, Inport duties all ovr tho ieland are by law payable one half iw gold, 2. The Spanish Bank cashes its notes in wold only to a very limited extent, $4,000 we believe each day, and this amount even in sums not exceeding $200 to any single presenter of bills. 8. Gold ios been for moro than a year past quoted in all the Havana and other prices current of the island at a premium, The Spanish Bank has an issue of over thirty-five million dollars. Ite assets are entirely dependent on the ultimate repay- ment by the colonial Government of the large sums loaned to it; but neither the home nor the colonial Government is in any sense responsible for the redemption of its notes, Tt has been Jong known fn Havans, and in fact all over the island, that @ refusal to ne. cept Spanish Bank bills in payment would render its author liable to prosecution for trea- son, and of this no better proof can be adduced than the following: More than a year ago the Havana Railroad Company, after much importunity on the part of the Government, agreed to accept in payment bills of the Spanish Bank, but with the reservation that they would reecive them at the current rate of discount of the day, and each day the rul- ng rate of these same notes was telegraphed toall tho stations of the Mne for the informa tion of the station masters, Mr, Lornz Rowents, brother of the Spanish Minister in Washington, then Civil Governor of Havana, remonetrated against this saving clause, which he said he considered an set of hos- tlty on the part of the Company. If, as Mr. PUENTR states, Spanish Bank bills are as food a8 gold, why should the Railroad Com. pany or any wher corporation refuse to re- celve them ? ‘Tho action of tho Spanish Government in the matef of this Spanish Bank is not unlike DHE SUN, TUESDAY, FEBKUAT LHGAL TENDERS INVALID. —_— CONTRACTS ANTE-DATING THE act MUST AE PAID IN GOLD. plaher-enation Important Deciston by the United Btates considered In this conneotion, veh ordains that by which the Government should in all exeente ite powers, would tirely the character of the inetrament, and cl jetiee of a legal code, unwise attompt to provide, by immutable rules, fo Igencies which, if foreseen at. all, mast been but dimly, and whieh ean be best’ provided fee ‘To have declared that the best meng ne Withiut which the ory. woald have hr deprive the Legistatur 01 the capacity to wva) ot experience, to exercise ita reas moaate it lewrlation to ciream: ngth, these remark of €. thouvh made | martes ehivat® phorenty smatt Kot ‘ovieion fe kindred Jon impairing fi fh régard to the Cuban to make Spanish Bank fotes legal tender, but prosdcutes all who decline to receive them as such ; it refuses to recognize the Cuban Republic, but sends for reinforcements by the thousand to endeavor to suppress It. been. to ctinnge om Repu r Tt would have been ‘on the question of! ‘aware that it bas ever ‘power to Isane bills or notes haw uty with the power to make them a | the contrary, the who! futaa that notion, ror en ane te ye thut whieh for! the “obligations. of contracts; but, anltke that, 1t is etly and to the ft'deee net in ‘erm prohibit |ygisiation which appropriates the private pro; of citizens to the use ut anothe property cannot out compensation, it le diMealt to {i can be so taken for the benefit of violating the spirit of the prohibit Dut there t another provisior ment wale). in our judgment, ar d intended effect anless cone lapition of the legislation whic It fs that which delat that SO PERSON STALL BR DEPRIVED OF LI OR PROPERTY without dae process of law, Tt fa not donbted that AP the provisions of this ‘amendment m and restraint of the ly the constitation, h compels all those nent of gold oF silver money to accept In payment » currency of in: as they occur, Shall not be used, Dut thore Je matory of ‘The States tave always been a thé power to authorize and regulace the issue of bills for @reylation by vidual, subject a been, rol of Congress, lishing aud securing @ watlonal curreney, and ut Ue ATATES ARB EXPRESSEY PHOT) by the Conatitation trom making anything bat gold legal tender. This #eems ng Hotes, and ti lane A Rogue to Kill It. The ITerald announces that a new associa. been formed to deal in news, and carry on a rival business to that of the old Associated Prose, atk only one thing of this new, rival m elect Jown Rosenu. for thir President, and if he cheats them—na ho assuredly will—as badly as he dil the old Association, they will never be- come formidable, 16 Denefit of ail, with: nderstand how a part withoat the name omen. cannot have it full ued as @ direct pro- we have been Con jotermined, to tee Murehall bees contary ago, their mpoliendtlit tuider which Congress called of making the # enrit tender, a a means of RroKe% i aid, soemed likely ty ter ite existence. an? to borrow no other manner be borrowed, and to pay of millions due to Ite aokliers, white: ec other means be vaid, seems to be w If be hud bad clearly before jis mi country. he contd pat Wastixotox, Feb. %.—The following opinion Was delivered in the United States Snpreme Court to-day, by Chief Justice Chase: fase P, Hepbar Henry A. Griswold, in error to th of the State of Kentutky. for our determirftion by tie record In this ense, is whether oF not the payee or assignee of a note made before the 26th of Feurnary, 1862 is oblig to accept in payment United States notes equal in al amount to the sum due, ace turms, when tendered by the maker or other p bound to pay it, place, a construction of that clause of the firet section of the net of Congress passed on that day, which declares the United states notes, tho tesue of whieh was authorized by the statute, to be a legal tender in payment of debts, to ite aid the «of the Govern and Henry A, Hepbarn agt. Court of Appeals question presented che poidt that the power ta | it that thy er to make them a lopat tender aré not me power, and that they. hi nection with cach other. i ed fn argument that the power to make United a lewal tender in payment of all de »propriately and pluiniy adapted to ¢ execution of the power {0 Gitry On War, OF the pow ef to rognlate commerce, nu of the power to bor- and is not prolibited nor in- Jotter or sninit of the Constiin- no necessary Con. Association: let the But tt bas been ma rectiy im limita rowers. conferred won Tay whet, » hold contract power to carr, h experiences ( accommodate conristent with the tion, then the net whi derw mustebe held t ton to elrevme at And this require’ be constitutions! whether itis xn # 10F Carrying 0 ‘ament may be thas atuted : to deelare unig PROVIDR FOR CARRTING ON WAR, Congress bas alko power to omit pilia of credit or notes, receivable for Government anes, je, #0 Gar at least us parties are willl to in discharge of Government ob! factiitate tie ure of auch notes in legal tender in pay: therefore Congress may Tt fs @iMenit to eay thority to make notes tof debts preéxisiing be upheld as inoiden'al, upon As we predicted, the third column of the ish forces, which left Santo Espiritu on the 5th ult., and Puerto Principe on the 16th, some 4,500 strong, under orders of Gen. Gorexncue, for the purpose of capturing the Cuban oapital, Nafasa, has failed, A messuge from Havana, dated on tho 6th that Gorevecum returned Puerto Principe on the 28th ult, and adds, with @ circumspection which fs refreshing in ® Spanish telegram, that ‘a letter states that bo captured two pieces of artillery,’ and that “it is reported that a son of Gen years old, is among the prisoners captured. Apart from the fact that the youngest ron of President Cesrenrs ia twenty-two years old, and sailed hence for Cuba only a few days ago, the text of the telegram deserves notice. Spanish Government ignore that all thé world wat of the inteuded obj ign, or rather does it forget if proclaimed this object with @ grand sh of trumpets Or docs it suppose that after all the Consul here of Gen. Virtro's defeat, which turned out to be worse thon at first reported, anything short of an authentic ticated di foiled necount of a victory will suMe to remove the conviction of an ignominious roprinte aat plaluty ‘The eMrmative Covgress has power MOST APPROPRIATE we GOVERNMENT Bot te fe nit thats oF servontiye ear that, wi operation of au NO part oF it. rocess of Inw makes eon of prop- @ property of th the form of contrsots, bal contracts almost invariably stipulate for pF 3 andwe Nave nitendy. eoen that con- nited States, prior to the act under consideration, for the payment of mone Uraets to pay the sum specified in gol itis beyond doubt that tho holders of these contracts were and are fully entitled to the rotection of this ¢ in the erisis of Ite fate. ‘under consideration @ admonitory ne to U, implied oowers, and alas nothing to have been authoriz ds ithont wrees or in the Ktant, to the execution of whieh this legs) tender ack ‘was necessary and proper, in the sene fi e clrevmetanecs of declare war, to ly and enceisesiiy granved in rev We were in the mid Wich culled ll theae powers into exerci ALL THe ORDINARY MRAM of rendering eMct gress above-mentioned had been employed to ther nd with the epirit of with large urmie@ in the with acurrent expenditure of two millions o the credit of the Gov eran: Proportion 0} The entire clan od shall be receivable i Fe nt oh mane 6 to the United stat ‘and “demonds against the’ Unived Taitoeven ex jotes herein anthort reowive them, Uursements to make them a tment of existing dente; take such notes to what express power the legal tender in the payn In contracts mi: the principles d sail! also be lawful money and a legal fender In Peer aha debts, panic. or petvate. within tng Hilted states, except duties on imports aud interest os Gath U.B. Statins, M30 ‘This clause har already received much considera- tion here, and this Court has Leld that apon a sound construction neither taxes impo ands npon contracts which etipulate ta terms for the payment or delivery of coin or bullion are included by legislative intention under the de- feription of debte, public and private, to determine whether this description embraces debts 4 well as after the date of the It isan established rule for the construction of etatutes that the terns employed by the Legia latore aro not to receive an Interpretation whieh conflicts with sekrowlec of the Constiutio titntional provi otuer desrripuon 1d be found to contend th cceptance of fitty or Revent eres of mind im satisiaction of a contract lo Con- vey a hundred, would not come within the proht itrary privation of W confers oarselves onable to percel tection between such an net aid ano all citizens to necopt, in sutisfacrion of for money, hulf or ree quart rs, or any other pro: whole of the value vetuully dae, ot Involve the ie of mone donbt that Conyress may and use Ddilis of credit as money in the excention of any power? The vower to establish Por! Offices ple, involves the collection Titmost eapueity d by State legisla. Uition agalnat a and pos’ roads, for exa and disbursements of ower to make noter jental to this power as to wer to this quostio fe esources of taxatio en tle Interest on the pubite debt, + on to. device Rome of berrowing money on the eredit of th portion leas than t to their terme, would tike private property without w. if sneh act ged to eoncinde that an act making mere prom- to pay dollars a legal tender in payment of debts previously eon ate, plainly adapted, efcet any exore “uch an act 1 inconylaten war power? ‘Te an docs not appear to ns doubt. ment therefore seems to ries the doctrine of amp! very far beyond any extent hitherto g.ven to it ert that, wunte contracted before 3 they had been compelled Jmyment of specie on their own novea. Thi the eourtry wonld not have ma Ghent to answer arm; is fully cogy Governenr’s i ral power, whe the correct sense of the word “ appropriate” or uo", tay be done In the EeRcIse OF AN IMPLIRD rowER, Can this proposition be mamtained t that this is not a question for the neresa exercising the power. lecisive answer to this is, tat the ated to carry Into power vested In Congress; that with the spirit of the wd that it 18 prohibited in the Constt- Lit, of payments, d principles of Justice nant with these Principles can be given to them, But this rule can. hot prevail where the intent is clear, except in the Ne case where & statute sete at naught the plainest precepts of morality and social Coarta must cive effect to the clearly ascertained legislative intent, If not repugnant to the fandamental tnw ordained in the Constitatton Applying the rule just stated to the act under con sideration, there appears to be strong reason for con- Ning reference only finees Reemed Inevitab ty of the Government would have been demir: THE REBELLION WOULD HAVE T ve been divided, and th That the Legal Tender « ¢ Aisuatrous results, and that the Legal clause was neccesary to prevent then The resulia wien foliowed th of thik measur qunte catse hina ever been assigned f0 Of Governm nt cre renew with which the ¢ fr three years at yeas Of interest, touinly from ite own cluzen fe was in the count He JODOMENT. ‘These conclasions scem to as to be fully ane- Honed by the letter We are obliged thereiore to the States wont! impovertsLed. Court deciding % and well-authen. | 88Fcely sapposat wid then to ex A's the currency tendered to him in payment of fy to question in f wie before the pi It foliows that the judgment of stocky mus: be afirmed, mi geigaed for th cases Involving pr niined to bave that © the natere of American government, vert the government, witch the people ordain & government of diuilted powers, Into s goverumnt powers; it would obliterate terion which this court, speaking throw ated Cuief Justice in toe case a rcod: rmination of the qnes leetelitive acts are constitttional or uncor Undoubtedly, among ny oresrcn® was absent Principe, sccording to this t days, and now he comes back on the $8th ult. with two pieces of canncn and a fictitious son of And this grand victory end important captare was effected at a place in telegrapuie comuutic: only kuown there after a lapse of ten days, ancien y of this State are great blunder—and one which, if persisted in, ult in their political ruin—by fol- load of the World and of Stoxey Weoster in their conduct toward Cuba. vain for them to say that they cordially sympa- thize with the struggling patriots; the fact re- mains too plain for dispute that resolutions ex. pressing tbat sympathy were introduced into our Democratic Legislature five weeks ago, and have not yet been adopted! If, as that able and upright journal the A@any Argus contends, these resolu- tions express the sentiniénts of the Democratic members, why are they thus neglected? them be put to vote, and let us see just where ds on the question. etruing the word to debts contracted SODSRQUENT TO THE ENACTMENT of tfle taw, for no one will qnestion that the United States notes which the act makes @ legal tender to poyment are essentially onlike !n natore, and being irredeemable tn cotn are necessarily unlike in value to the lawful money intenaed by parties to con- tracts for the payment of money made before tts ps The lawful money then in use and made a legal tender in payment, consisted of gold and silver ‘The currency in use ander the act and de- clared by Its terms to be lawful monef and a lege! tists of notes or promises to pay im- Pressed upon paper prepared tn convenient form for cirentation, and protected against connterfetting by ruitable devices and penalties. The former possess intrinsic value devermined by the weight the latter have no intrips: vue determined by the qi in elreulntion, by genersl consent to ite currency In ¥ opinion as to the probability of Boch derive in different grees © certain additional value from their adapte- ton to circulation by them under national making them respectively a legal tender, for the pa:ment of money made befure the act of 189 ad reference to COINED MONET, and could not be discharged on ess by eqpsent other. wire than by the tend Every such contract, there! a contract for the payun well-known law of-curreney, seg to pay. nuless made conven y convertibie into con Disaenting Opti Susan P. Hepburn and Grtewoid.—Mr ogt. Henry A. justicn Muler dissenting, Tie provisions of the Constitution of the United reference to the function m.may be divided into three primary classes, Firs. those whieh confer leeislative powers second, those which prohibit the ex- wors by Congress; third, States from exeretsing cer- ng oo}m, bank not ral tender acts. ralt retrnepect of thoce events, tifa table for cltuiation ws money, bearin 4 ce the pleage of the United Slates for chit ultle ate payment in coih, WOuld, If not equolly eMeert, ve anewered the Fequirement of tue cor wiony leeal tender for de bis it is now raid dent of Cuba! lished for the de States, which have direct 8 apyroprint without being mad But what was ni SOMETIING MORE THAN THE CuEDIT OF The stricted choice ; to nee means not within this description, Now, then, let it be consitered ereise of leeislative those which prohibit t tain legislative powers. vite poWers CoNrennen ON Conaness may be subdivided Into the positive and the anxill they are more usually called, the express ‘As instavees of the former class tway be mentioned, the ower, to, berraw money, to raise aod support armies, an: Ce ulate the value thereof... The implied or waxit ary powers of legislation are founded kareely on tha general provision Which cioses the enumeration of Wowers granted on express terms by the declaration that Congr: ss shail also hare power to make all Inws be necessary and proper for carrying ‘ong powers and ali other vonstitution in the Govern ment of the Uniced States, or fn any department or Tho Domoerne: WHAT AS ACTOATLY BREN DONE national currency, st, 181, and Kebrawry, 156% ited Btutes notes payable on de- (12 U.S. Btatutes, 259, 313, . je rece vuble In ‘were not deciarcd a legal tender anti! (12 U. 8. Statutes, 370), ‘That had stretched to t's atmost ten eloarly no longer suficient in the #impte for « rowing money in the provision of ti All expertenes ¥ not redeemable promptly in coin, + ent on the credit of a promisor whoe were rapidly df on #inkE to the dead lev pamer. As 10 man would have been com: it in payment of debt riod of redemption would have been rem ste nya nn tain, and this mast hice been the inevite Anv extensive tesue of such notes. Jaw, they were made to disclaree the fv paying debts, they had a ‘equal to the am-unt of all vate, In the country. inand was autnorized. when tne atgonnt in circu lation hud been greatly reineed by :eccipt of cancel- To 1862 and 1°88, (12 U. 8. Statues, 246, 542, TU), the issue of four handred and fity millons im United States notes payable, effect, at the convenience of aathoriged, subject to certain restrictions, fifty milion, these notes were made receivable jor Of the Mat onal 1oans, for trom the United States except duties on imports and interest on the pupile debt, and wore niso de In Mareh, 1603 (12 United fe tsane of notes for athoriaed to an amount fot ex- ceeding fifty milions of dollar. not dec ared « legal tender, able nvder recuiations to be preserived by the iaty of tue Treasury. In February, 1863 (12 0, 8, stitates O89) the Issue of three hundred millions o notes of National Banking Assoeistions d. These notes were Made receivable me extent as United Siater note ¢ their redempt ‘Thewe several Ot notes have stuce constiiuted, under ness of the metal tito exeention the for: but a purehasiie the Government, was | lito exrention Whe for ation | rpetanl eredit or value payments, a jemption in coin. debts duo to ever relecmed been), ey sull paid debte ob Dar value, und for’ this purpore have always been eagerly n, that this equality ary Wo thelr usefulness Ree ound viow of the the form and impr: authority, and ofthe United States Inwfnl tender in payment of is to be fonnd in Congress, under either of of legislative pow is qacstion, and 1 t the exereise of such m of the rights reserved to the States, it set. that this’ is m forbidden to the itation, Atnony the nneguivocal niterances of that inetrument on this subjeet or tow- ol tender t# that which declares that no coin wenes, erant Pills of clured & legal tender States Statutes, 711) ‘As one of the der to negative power would be each party Those noes were (were made redvem- Judge Beprot yesterday decided that the McFanzanxp case shall not be transferred to the Court of Oyer and Terminer, but that the prisoner shall be tried in the Court of General e he stands indicted, cision, which is published elsewhere, Reorder ‘The session of the Court at which the trial will teke place will begin on the first Monday in March, may be as well to ay ong the eu! States bythe Cot ® comparison of the issued by the Government ‘Tuese bonds had a FIXED PERIOD FOR THEIR PAYwryT Treasury deotare |! payarte in old, They pore lutcres! seni-annnally in gold by of we sum day ore, war, in ley The Becretagy oft ,Or Make anything uncsnal and abnormal Be ut pur in cireniagou with eon, tL ilat depreelation of notes COLD AND SILVEM A TENDER IN PAYHENT OF DEDTS, water from the dominion stich probibition 1* piacea micreRs Over this subject, realy said, matters Hackert concurred, an equally well-known f wing the whol of Sate began x but gold, wore MMON CURRENCY OP TUR UNITED STATrs. Olgs whie? were not declared a igaal tender ted With these which w in circulation, and dimmution of con position to redeem, reversal of the a legal tender can change pratenally Ir toree has been Of debermining which we en the fate of the Trewsury notes desivned | culate asmones, but whi ough Chee Bre, as We Lave expressly forbidden to Congress, but nelther thin of logal tender, nor Ae power Lo emit bills of credit, or pair the obligation of Congress Ix among th 4 though it must be 1 Dore no Bred tae It sermsthat the reception given by the Hon, Grexvitty Tepor Jexxs to Prince Antava, emplifieg tn the ni obvions that | xembli i power to the States the attention of n directed to the pro @ legal tender, exclusive of intes two yeary five per cent and the three yours compound interest notes, B. ptatutes, 218, 245.) he questions the general constitutionaity, ¥. Perhaps, tue general ex! ation by whiel wn ined in recent years, et ot Congress 0 he favored, or, Such were the « liant affair, and one in every way more agreeable to the Prince, than the heavy entertainments which he was compelled to endure on this island, coms were more beautifully decorated, the women younger and prettier, and the men bet- What makes this suceess of our distinguished Brooxlvn friend more gratifying the kuowledge that the New York ladies bad indirectly tried to prevent the Prince from accept- invitation, representing to his suite thit Brooklyn was a one-horse place, en- tirely unworthy of his notice! difficulty that the prejudice thus inspired was overcome, and, as we have As we already, Congress is expressly antho i Lo regulate the value thereof and of counterfeiung of e United States y able juriste anifest intent? d Koeral constraction of th ee meant that the word uct, should not include debts The exception o! bring to bear upon th LAW WAS 4 NECRRITY in the most stringent sense in whi if we udovt the construct! Justice Marsuall, and the full Cou presided, a construction which ha heen Overruled or We avoud this conclusion f ITED STATES BANK, ahd especially the power granted to It fe for eireulation ax ae without coustitutlo: held that a bank of ene was necessary | Of that word as axed m_ the Conelitu! the Government ww collect, to wanrier and the Gov.cument cogid dad liberi}, upon a & Coin, and of the securit strongly arcued by m that these Intter clauses, fairly construrd, confer the power to make the securities of te United States a in payment of vebts, uloue, a sufictent war- of tile power, they are not Without deeided Weight when we come W consider the question of the eaisience of this power as one and proper for earrytn) werk of the Tue doubt i » particular clase of these note be a egal lendcr i payment o1 preexisting devts, ‘The only ground wpoi te nov that the Mave of noves war an ed meses for carrying on contracted prior to tt pissage interest on loans and duties on imports from the ef- fect of tuc levul-tender clause affords au irresisuule implication that uo description of debte, whenevce contracted, can be withdrawn from the effect of ter behaved. Which this power is jucetioned tn thie Court, | rant for the exe und plasuly ad the war, tor that is admitted, but tender to the’ exte Now, we have NOT INCLUDED WITHLY on the reasonable intent of the exception, of observation in thi co ted to which We act gave ocearion in Con- creas, no suggestion was cver made that the leeni vender cause did not oppiy as fully to contracts made before as to contracts mace after its passage, These considerations seem to us concinsive, We do not tnink ourselves at liberty, therefore, to say that did pot intend to make the notes xushor gal tender in pay tracted before gthe them « legal was ruch & means the notes issued those pot deelired 9 legal tender at ali constituted 8 very larg ted treely and witho that their equality io circulation and credit w: due to the provisions made Ly law for the redemp- {ion of hha paper in jegal ‘ender notes, but this Vision, Hf at ail useful an this ie \mpertance compared with thal receivable for Govern’ dues. And the history of ing Mr. Jenn: cem that of wil into execution Was strenuous ection, that in roportion, and thet they | (hey fhe | thats 30 power over the lawiul Was confided to Congress and not to tue St It 18 ne unreasonabie inference that it it found necessiry in carrying Into effect some ‘# of (he Government easential to its successful Jon, O make tts securitice perforu Ux Of ite debts, Buch legislation wpuld be ln with the power over money It beng conceded, then, der consideration would mot, if exercised by Com ress, be an invasion of any right reserved to the fnited Btates, but one which they are forbidden ts employ, aud that it is notin terms either granted or demed to Congress, can it be sustained a A LAW NECESSARY AND PROSSH, at the time it wus enacted, for carrying tnto exeen- tion any of these powers that are eituer (0 Congress or to the Gi Tt was with ureat y uf the country, it overcome, but it wi sald, with the happiest results, in anticipation of the building of the bridge, reckon Brooklyn as a part of New York, we take pleasure in publicly acgoraing to Mr. Jenks and thanks to which they are entitled fur saving the credit of the consolidated whieh male oem time it ever been, tat otber moana wore witain the competeng; tof debtweon. the” question Whether power to make wenerees plate i, por thet gMt possibly tase et beosken ih iKjsution ander considera: ton 18, that 1 was upon the quality of recelvabllity, | vender Wuat reliance ‘wae originally placed. certainly are not without wenglt a» evidence that ail ne Hotes Would have been ‘pod a exprese | Without a circulation, treised by Com, | mort Actin, uselal, and efBcrene mone ot suing slit Congrss was authorized to do, i wor be oT sary by this Co: om the quality of Le of cireulation bis fair associates th yale in gold ¢ Govern, ent were than those deleasied to it by All the legislative power granted by the 1 Congress, but i bas no misistive power whieh is not thus granted, the #ume observation Is equal; thon to the executive wnd judd the President and those powers differ veiul purposes of , Without maki It Is denied, indeed, by emt quality of Geel rt. The necessity in that cae 9 met less apparent to me then in the uiopi. sn of the legal tender clause, implied power, protect aud foster the cu destrnctive taxanion on State bank circ Seema strange indeod If it eannot adopt ¢ the effectual means of «i Holes of Its Own Iasue, for the Fedemption ot its faith Ie pledged, & lawful tender in paywent of Upom tue euactwent of there lece. wey Were receiving with ALMOST UNIVERSAL AcQUresc alld paymenta were made In t calstence, when f thousands of mi creme can, uo ucr Me Ptution belongs The attacks of the disreputable Times of this city upon American financial credit abroad, receive the hearty approval of the Londop paper Such was the despatch re- ceived by the Atlantic telegraph yesterday, news is not unexpected, like its London namesake, is edited by men who lighted to depreciate this coun in the eyes of Europe. the coutrory, Us ioWever this may t membered that it is ae 4 means to An en’ d by the action unplied power ot makiny payments fs claimed und fit be nduiitted that some merease of avai ts derived from makin under new contracts, It by no means toduws that precinble Kuvantaxe te gutued by compylling creditors to receive than tu trae In its applige ressly granted, ment or to any ine is that, when an ick of Cougress ts brought to toe test of th's eiause the consittution, it necestarily must be absolute, of the same name, u binds, but notes a legal tender la ali {he Constitution, and wre iuited vy ite term Not every wet of Congr me law of the iin that the Judge seter und this foree bel in pursuance of to a case unites for Judicial determination, ob the wleged inccashe: tive provision with the fundaiicntal pian duty of the Conrt to compare the act With the Consiltution, apd iC the former en construction, be Initer, to give eilect to the C The case befure us is Oue of PRIVATE RIGHTS, ‘The plaintiff In the court below songht to recover of the defendants a certain "shim capressed on the face of & promissory note, Tue defendants on the right, under the act of February 8, nequit themselves of their obligauion b; paviment a sum nominally eqisl in hotes, but the Hote had been exc paswuge of the act, aud the The New York Times, is (o be regarded as the ple hop ever tus notes a legal te more emphatic denial, or more d to the amount dollars, thutgh gold wa tho debts wore coutractod amount is now due under contr under the belief In the ewe of the United States ve, Bisher 2) brunch 25>), decided in 1804, the point i the priority’ ciaimed for the United State tor of a bankrupt over ali other credit aiuly om the construction of bul the power of Congress to pass BDTISFACTION OF PRE-ENIATING DEMTS Ag equal if uot We are glad to see a stir made about the But it isno novelty, Ir, Hovrwett, then a member of Con- rded to the War had received offer. ougind dollars for an appointment wt hese legal teu ler The two houser of * res the President who sigoed the bil, abd PIFTREN TATE covRTS rt, boing all Dut one that have pa the question, live expressed atitutionallty of weight of authority At 14 powslble from t sale of cadets reconciled with the omsciution rather tan I laws which shall be nd proper to carry ile execution the powers vested=by the Constiiutio ment, or in any deo grees from Massachusetts, Department a letter which I {ug him one t evils which tow mable paper money, attributed alto 1a construing It Would be iucorreet, and would pro opinion ehow dt trom the use of an trre who have puss mie have been called ¢ Whose daty it was, as when the fist of the young meu who had beep ad- the Miltary Academy was sent to the rtment, the name of the person who made the offer to Mr, Bourwetn was among Ile had been appoigted by a membe the House of Represeututiv quiry was made, and it was proved that the cadet was the author of the letter to Mr. Bourwenn of- fering the thousand dollars Sranrox peremptorily distnissed him, and called upon the gentleman from Michigan for an expla: Of course he aflrmed that he had re- consideration for the appoint ment, and as there was no evidence that he had, the young man alo: It in evident that if corruption is to be exchided from appointments to West Point and Annapoll they must bemade In some different mauner from any hitherto employed, given as favors cither by the Py mabers of Congress. Would it not be well to make them the rewards of extraordinary proli- cieucy in the commun schools of each State? ib cerisinly wide Indispensubly & epecitied power, When various the Constituto tYon, to distarb contrac the necessity for it HCapnear so strong to as oF so clewr ay It Was to other courte my idea of the reiati Aichal departinent ot this Gove sa Chote OF uy Tha SELECTION 18 WrTH CON If the wet to be cou 1 tO We execution of the ¢ dures OF Unit necerstty lature and mot for the Court to detern ained doubts offthe ev Je Ourselves that an appiopriae and plaluly acopied means f declare and carry on War nisinted on tls oF the power | nothing to the wullty of Uh wy amerns to the end, ste notes are i 1, be upheld is and cannot be lo judement accor from Michigan, mod; nor éan Hi in our 5 Winle feoiutinr ding (0 iis claim, Unlek nd by «coi stituthonal law to accept the not ‘Tous two questions were directly preseuted the defendants relieved by the act from the ob. tion assumed In the con mpelled bys jndement of the Court to re ceivein payment a currency Union, ittoald m Uts in. eave of but kruptey and injures the curremey iw ite proper use (oO a Wich 8 law giving priority for its But i tue nemor not the Court, and thereupon Mr, ould the plain And these considerations seem (ous equally plicable to the REOCLATE COMMAKCE AND TO POI 9 didvrent natura nt In the opiaion ot the saine emt volved, as 18 Well known, the mght of Congr That cage in- of the parties W Court of Appe: M the contract Boch powers necessarily Involve the use of inoney by the wovie and by the Government, but n carries with it, ae ceived no pecnt defendants s that judgment by writ) of error therelore, to deter wo far a it nik tendor' in payment of uthor ize it Lo issue not es for circulation at the right to incorporate or create grant in any clan the Figat to wuthor wvery decided © inion pe OF its autaorit, eonmtitutional, wad e was punished, the Constitution, ett t for eiventation as argued that a9 a measure Jets contracted prior to bs passage, 18 constitutional and Valid uF ctherwive, THE DESIGN OF THY CONSTITL Justice Sirayne and Mr, Suet wary to enuble the the vrgautzstion of ithla the power of C tng of the sue meaning o tae word use of the Courtitution snk Wich this fine. | Pocketbook Wrong Mao Mr, Jobn Kerr, of Hoboken, day morning along West stree Market, observed two or ty followin him, * plainly advpted,”* by tho limitation thet the ‘means must be wot prohiL ited but consistent with the lever and spirit of the Nothing 80 protibited or Inconsist * really culeulaied, the sphere ot its operations, end it way ueedtul only to make exprens oupled with u further grant of suc ineldental anu aux Lary powers as might be required for the exercise of the powers expressly granted. Nae not Leen maintaibed in argument, nof indeed would auy one, however slightly conversant with constitutional Inw, think of maintaining that there ont KYunt Of legis Unng to which general powers e ~ can bo reeurded 4s appropriate, or or really calculated, means to ‘Let u8 inquire taen, first, wi credit a legnl tender, sistent with th lalniy adoptes binaly sdovted, | tiiik It dove nor ference by had to tts use in the common fairs of the world, or in apperved authors, We find thas it treque: WIMK 19 CoMVEMeLL OF ef taking bil! of round saw ene ofthe party pies ups 1 indicated, 14. ¢ ran ont by the ‘y MmMparcd uO more Passing down Nassau street yesterday, we accidentally overheard one gentleman say to another, 1 ean't do without Tum Sun any more than without my breakfust,’? said his companion, only New York paper I three Newark papers,’ tlemen as men of prcat {utelligence and sou The readers of Tum Sew are the mainstay and the hope of the country. DUrpOres Of tant inscrument, 4 pieuwus uF more Vouk nstitation any to make any deserip MEANS NECESSARY TO AN RIND hie priveaple found expresston tn that most valu the Constitution of the United ain't you leat yonr pocks “That's just wy “Tum Sux is the ai, although T take Wo sot down both gen- abie provislon States, ever recoenized a6 xn againyt futrigue, that uo Stute shall pass any law IMPALNG THE OBLIGATION OF CONTRACTS, Tt @ trno that this probibition ix not appiled in terms to the Govert Congress has express puwer Lows, and wo do not buy thita law mate in the ei of wny other express power, ly only impairs the obligation ld to be aneonstitntional for that reason, think i clear that thoso who framed, amd. thowe ho adapted the Cer of this proalbi Of logisiavion, and stitution wus ‘ordained to ght by them Lo be oo of 4a oopanite tendency, not donbt that slaw mut made in pursuance of a express power, Which necessarily, and in its dire: tion of contranta, 8 1 ot the Cousitutton, Anosber provinion, iound ly tho Fith Aweps a legal tender th payment of debie. as pally settled, * grurrally understood emp, exhibiting ad troastre, siying 1 your money; but s Jecisions can set awa necessiry and " DOWers eEXproKe: be unait auable, mits, ho says. Cf all degroew ¥, necessary, ub rrying Into execatio ly evanted or’ vested, bave in the Consultation senre equivalent Lo Chit ofthe word#—"iaws not ab- solutely necessary, He had nu ovr went of the Wi dispenvubiy nec: io buoceed Wk M4 used in Various simmer, and the subj-et, tho cont. them are w be (ken into. view. ‘coumtleration indeed, bat a adapted (0 Constituuional and ~laws not prohibited, but consistent with the letter and spirit of the Constitavon—liws really ealca lated to effect the objects entrusted to the G The question before us, then, resolves itsel into this: Is the clause which’ makes the United States notes a leval tender for de ropriate apd moral prineiples, to enact baukruyt ereGenernl Creawell Co ee nator, Feb. 7, venice that Postaustor-Gomeral Creme + sCeopt d iurelcu uaeel uy The Wynookts Ohitdron, ved at the oMce of gestiiute Wyble family. 1H. D. Wirdeall, Wile Subscriptions re for the reer of t iation, tuntend. Wsvoull pervade the entire t the justice whiet the Mablish was pot ible With legisiation do otner words, we cay Maton eRsent ally dope Te must hive boen the thene powers to comld Insure thetr be This eva.d not be done by cont eto much narrow HANML® ab leave tin the power of Congr roprite wid Ww Mis made tna Constitution t# contracted pr W of the description stated in owledmud. ..., Sunday echool Charen of kpiphi hy, Branton et, AD, the Articies of Con! rant with the old Congrase, und war ¢ y express of credit, which are, notes for civeulation as currency, and yet t Kress wus pot clothed with power to wake welr bilie piyment, And ibis Ouurt has re- cteeeereeees $100 D cently held thet Cougrees, under the Consuinuon, operation, tm oonmstent wil @ oval Gonder iw conseqnontiy to by adapted to Various eri ave Vrowerived