
10-08-2006, 09:57 AM
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Come and Get Some!
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Join Date: Jun 2005
Location: kingdom of heaven
Posts: 1,577
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paper vs specie
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Originally Posted by David Merrill
Yep; cut open the old pillows - they're filled with currency! Therefore a POMC coupled with Trebil**** v. Wilson.
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Without Prejudice.
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The "...terms, in specie, are merely descriptive of the kind of dollars in which the note is payable, there being two different kinds in circulation, recognized by law. They mean that the designated number of dollars in the note shall be paid in so many gold or silver dollars of the coinage of the United States. They have acquired this meaning by general usage among traders, merchants, and bankers, and are the opposite of the terms, in currency, which are used when it is desired to make a note payable in paper money. These latter terms, in currency, mean that the designated number of dollars is payable in an equal number of notes which are current in the community as dollars." Trebil**** v. Wilson, 79 U.S. (Wall.) 687, 694-695 (1871)
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Last edited by fulltitle : 10-08-2006 at 10:19 AM.
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