Merchants' Magazine and Commercial Review, Volume 60F. Hunt, 1869 - Commerce |
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Page 284 - ... all accounts in the public offices, and all proceedings in the courts of the United States, shall be kept and had in conformity to this regulation.
Page 278 - Bronson, $1,400, executed his bond for the repayment to Bronson of the principal sum borrowed on the 18th day of January. 1857, in gold and silver coin, lawful money of the United States, with interest also in coin until such repayment, at the yearly rate of seven per cent. To secure these payments according...
Page 283 - ... which will support such a tender will defeat a very important intent of the act. " Another illustration, not less instructive, may be found in the contracts of the government with depositors of bullion at the mint to pay them the ascertained value of their deposits in coin. These are demands against the government other than for interest on the public debt ; and the letter of the acts certainly makes United States notes payable for all demands against the government except such interest. But...
Page 282 - ... that engagements to pay coined dollars may be regarded as ordinary contracts to pay money rather than as contracts to deliver certain weights of standard gold, it can be maintained that a contract to pay coined money may be satisfied by a tender of United States notes. Is this a performance of the contract within the true intent of the acts...
Page 279 - To form a correct judgment on this point, it will be necessary to look into the statutes regulating coinage. It would be instructive, doubtless, to review the history of coinage in the United States, and the succession of statutes by which the weight, purity, forms, and impressions of the gold and silver coins have been regulated; but it will be sufficient for our purpose if we examine three only, the acts of April 2, 1792...
Page 99 - God — rolled back the mighty tide of the Mississippi and its ten thousand tributary streams, until their mouth, practically and commercially, is more at New- York and Boston than at New-Orleans. Thus have the fates mocked and deceived us in promising rank and greatness so long as the mouth of the great rivers should remain at our doors...
Page 454 - With the great mass of consumers bread still forms the chief article of consumption ; but iii the manufacturing districts, where wages are good, the use of butchers' meat and cheese is enormously on the increase ; and even in the agricultural districts the labourer does now occasionally indulge himself in a meat dinner, or season his dry bread with a morsel of cheese.
Page 279 - If they are so in fact, the inquiry concerning the legal import of the phrase 'dollars payable in gold and silver coin, lawful money of the United States,' may be answered without much difficulty. Every such dollar is a piece of gold or silver, certified to be of a certain weight and purity, by the form and impress given to it at the mint of the United States and, therefore, declared to be legal tender in payments.
Page 281 - A contract to pay a certain number of dollars in gold or silver coins is, therefore, in legal import, nothing else than an agreement to deliver a certain weight of standard gold, to be ascertained by a count of coins, each of which is certified to contain a definite proportion of that weight. It is not distinguishable, as we think, in principle, from a contract to deliver an equal weight of bullion of equal fineness.
Page 278 - Bronson of the principal sum borrowed on the 1.8th day of January, 1857, in gold and silver coin, lawful money of the United States, with interest, also in coin, until such repayment, at the yearly rate of seven per cent. To secure these payments, according to the bond, at such place as Bronson might appoint, or, in default of such appointment, at the Merchants...