Nathan Clifford

“ A law which practically destroys the value of the coupon is sustained. The officer is not bound to receive it, in the sense that he cannot be compelled to take it. He can enforce the payment of taxes in money; he can sell property, if necessary, to collect them; he can wholly ignore the coupon unless the holder should foolishly consent to incur double the amount in costs to establish by a jury trial its genuineness and legal receivability for taxes. ”

“ The only ground on which a change of remedy existing when a contract was made is permissible without impairment of the contract, is that a new and adequate and efficacious remedy be substituted for that which is superseded.' That there is any adequate and efficacious remedy substituted for the one in existence when the funding act was adopted cannot, it seems to me, be seriously affirmed. The remedy originally existing was effective. No officer could refuse to receive the coupon without subjecting himself to personal liability. After a tender, no valid sale could be made for the taxes ”

“ It will only be necessary to insert in their statutes a false recital of the existence of forged and spurious bonds and coupons as a plausible pretext for such legislation-and their schemes of plunder will be accomplished. ”