The Legal Tender Cases

  title={The Legal Tender Cases},
  author={Kenneth W. Dam},
  journal={The Supreme Court Review},
  pages={367 - 412}
  • Kenneth W. Dam
  • Published 1 January 1981
  • Law, History
  • The Supreme Court Review
The Legal Tender Cases have disappeared below the surface of American constitutional law. ' A long time has passed, both chronologically and intellectually, since a constitutional law scholar could confidently declare in 1887 that "[n]o decisions of our Supreme Court possess a more enduring interest for the student of our Constitutional History and Law than those rendered in the socalled Legal-Tender Cases."2 In 1975 Gerald Gunther, the most historically minded of constitutional law casebook… 
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currency and coin in circulation totaled $118.7 billion. Of this total, Federal Reserve notes accounted for $106.7 billion, and U.S. notes for only $311.6 million
  • 1979
See MCCULLOCH, note 181 supra
    For the New York Bank Department's interpretation of the law, see Bank Suspension
      See MITCHELL, note 19 supra
        See also Annual Report... of the Banking Department of
          Bank of the State of Indiana
            was decided when the nation had returned to peace. That Knox upheld the legal tender legislation and thatJuil
              far exceeds in quantity the Civil War issuance, and its lineage extends back to quite different original parentage
                banks had agreed to maintain reserves equal to 25 percent of liabilities
                • Though there was no statutory reserve requirement in
                Article I, section 9