Summary

Portrait of Salmon P. Chase Salmon P. Chase Thorington v. Smith — Opinion of the Court

They must be regarded, therefore, as a currency, imposed on the community by irresistible force.
It seems to follow as a necessary consequence from this actual supremacy of the insurgent government, as a belligerent, within the territory where it circulated, and from the necessity of civil obedience on the part of all who remained in it, that this currency must be considered in courts of law in the same light as if it had been issued by a foreign government, temporarily occupying a part of the territory of the United States.
Source: Wikisource

Portrait of Salmon P. Chase Salmon P. Chase Thorington v. Smith — Opinion of the Court

It is to be observed that the rights and obligations of a belligerent were conceded to it, in its military character, very soon after the war began, from motives of humanity and expediency by the United States. The whole territory controlled by it was thereafter held to be enemies' territory, and the inhabitants of that territory were held, in most respects, for enemies. To the extent, then, of actual supremacy, however unlawfully gained, in all matters of government within its military lines, the power of the insurgent government cannot be questioned.
Source: Wikisource

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