. .... .*5 5 • r. .. .... .-....6 ..„,..,...... .....„ WEDNESDAY, JUNE issg. . Decision of tne Supreme Court - of- Penn . • sylvanta,Declaring Legal Tender Notes Constitutional: • • - • ' 1'11 , 414 . )ra us Art , , phlet copy of R Judge iterg'i 'opinion upon the legal ten: leequestion, and we copy below a synopsis .of the opinions delivered, which is printed. •_in front of it. Judge READ has treated the subject historically, interweaving his constitutional argument with it. He gives a sufficiently detailed view of the mode adopted by the colonies, as far back as 1690, of borrowing money by the issue of bills of credit, which, in many instances, were made legal tenders in pay ment of all debts, and generally extinguish ing the debt if refused to be received by the creditors: .. At the opening of the Revolution, they Were issued by the Revolutionary Congress, and, • upon the recommendation of that body, the several States passed laws malt ing them legal-tenders, with the usual penalty of extinguishing the debt if refused. These laws were finally repealed uponi a similar recommendation, and the contieeil. Jai money passed out of existence. Then followed the inefficient articles of confede• ration, and the various State measure's, snaking tobacco, rice, an& other articles of property, a tender in payment of debts, which, with "stop laws, suspension laws, and appraisexnent laws, completed. the nearly total abolition of the relation of debtor • and creditor. These and 'other evils produded, the Constitution of the United States, the effect of a liberal con struction. of which has adapted. it to the wants of 'a country nearly equal in area to the 'whole of the continent of Europe. The power to issue notes being conceded, ass result of the great powers to lay and collect taxes and imposts, borrow money, declare war, and raise and support armies and navies, the same reasoning leads as a necessary and proper means to carry out the same powers to giving the . authority to declare them lawful money and a legal tender in payment of public and private debts, and thus directly enhancing their value. The opinion gives a short history of the two Banks of the United States, and of the opinions of Mr. MAresorr, and Me•Damee:s as Secretary of the Treasury, the latter asserting the entire control of the monetary system of the country to be vested in the National Government. Experience shows the entire inability of a bank of the United States, or of the State banks, in time of war, furnishing an 'uni form currency, or aiding the Government '.,by large loans, continued through a series' . of years; and the fact is stated of the sus ' pension of the Bank of England for nearly a quarter of a century. The necessity, therefore, being esta blished, of the acts of Congress td make their Treasury notes lawful money and a legal tender—their value is still further etiz_ hanced by the bonds of the United States,. and these notes being made the foundation of the present ,national banking system, where benefits will soon be extended to the 'Southern States, and aid in reviving their finances, commerce, and agriculture. Having established their constitution ality, Judge READ then declares his opinion that, wherever gold coin and silver dollars are legal tenders, there the legal-tender notes have_ the same power, the only exceptions :being duties on imports-and interest-on the 'public debt Aftet showing that the prid eliniVofti ground rent, both by law and anthOTlty, comes within. the words of the —acts of Congress, Judge READ, in closing • iiis opinion, which is thorough en all points, 'says, p. 3 : , • "I think, therefore, there can be no doubt that this postponed portion of the purchase-money comes . clearly within the meaning of the act of Congress and se gold coin would be a legal payment, so is the same way would be, legal tender notes. The words used In the sot of Congress are the same that were employed by the , revolutionary Congress lutheir recommendation to the States to have their Issues made a legal tender, which produced the very comprehensive sot of Assembly of the 29th Janu ary, 1777. If these payments cannot be made in payment of debts. The word, debts, must be taken In its largest sense, without regard to mere State interpretation, which at one time held legaoies not Included within the term. "But ground•rents are almost entirely confined to the city of Pnlladelphia, and do not exist In other States, and It would be slng - ular, that the an• nual rents reserved in the same terms, should be. payable In legal tender notes, whilst the principal of the purchase•money referring to Its payment In the same kind of money or coin as aforesaid, should be only to be tendered In gold or silver dollars. Thls anomaly should not be allowed to interfere .with, a great general measure, vitally essential to the Crushing out of the rebellion and the preeerva tion of the Union." SI \ OPBIB. There were seven oases, Involving the ooneflltn• tionality and construction of the acts of Congress Making : Treasury notes a legal tender In payment Of debts, decided by the Supreme Court at Harris_ burg, on Wednesday, 24th May, 1885. Three were from the Western district, and Involved the pas , went of notes drawn In gold and specie by legal• tender notes. Four were from Philadelphia, in the - Eastern district, Involving the payment of arrears' of ground rent of lawful sliver money of the United States of America, each dollar weighing seventeen pennyweights and six grains at least, and the pay ment of the principal of ground ratite payable In lawful slim; money and lawful money by legal tender notes. In all there cane, the court hold, by a majority, varying on some of the queatlons,•that the acts were OonstitutiOnal, and that the Treasury notes were a legal tender in the abovaepecitied eases. Chief Justice Woodward and Justice Thompson held die acts were unconstitutional, and Justices Strong, Read, and Agnew, held they were oonetitn• tional. The Chief Justice, Justice Read, and Justice, Strong, held they were all debts, excepting that Insilco Strong did not regard the principal of a ground rent as a debt, in which Justice Thompson concurred with him, but Justice Agnew held It was a debt, but differed as to contracts payable In gold or silver. • The result Is, therefore, ae stated above, and the opinion of Junlee Bead .was filed In sehollenberger v. Brlnton, but oovered all the oases that were 'argued. Our Places of Amusement. Among the many completed and pro jeCted improvements that arc multiplying so rapidly. in Philadtlphia,lhe theatres de serve especial mention, and hold a conspi cuous,pOsition. The " Chestnut" has a pleasant auditorium, and is throughout neat and new,- while the " Walnut " is almjit,to undergo a thorough and complete :renovation .under skilful and experienced , . dilectionl- • • - .„Thi,•l4irch!'. has „been so entirely al tered.,,and..,-improved as to . warrant • the naine, , eltliough w e dislike the clitange:in cog id men,' of "New . ArCh;" 'rose by any other name .may smell as sweet,"%lnit still we would rather keep the title to which sweet memories cling ; and 1. 1 the Arch" has been for so many years the exponent of the legitimate drama that most pleasant associations crowd around it.. The exterior of this theatre is very handsome, fresh, and attractive, and the admirable "arrangements in the interior itaVe made it spacious and agreeable. For pleasant, and comfortable seats, and a feel ing ofabundence otroom, it surpasses any of thetheatres in the city, and, the fairy tracings of gold - over the white ground blend so- harmoniously in the subdued light of the shaded gas jets that all re