Summary

Succession of Juan Serralles v…

Although the translator seems to have assumed that the word 'cents' was the correct and accurate translation of the word 'centavos,' it must be remembered that the contract was in fact to pay centavos, and that the centavos were in fact, as we think is plainly shown in this record, worth only about six-tenths of a cent, and that while 100 centavos were worth one peso, 100 American cents were worth $1, or above 60 per cent more then the same number of centavos. It is entirely incredible that either party ever meant any such result as is now contended for by the appellee.
Source: Wikisource

Succession of Juan Serralles v…

The 11th section of the act of Congress, already mentioned, provides for the redemption of all silver coins of Porto Rico known as the peso, and all other copper and Porto Rican coins in circulation in Porto Rico 'at the present established rate of 60 cents in the coins of the United States for one peso of Porto Rican coin, and for all minor and subsidiary coins the same rate of exchange shall be applied.' The Congress thus fixed the rate of exchange in the redemption of these coins, and it must be assumed to have been fixed at the value of the peso in American coin.
Source: Wikisource

Succession of Juan Serralles v…

It may be assumed that in 1894 no one could have contracted with reference to a war between Spain and the United States, which did not break out until four years thereafter, nor would anyone have contemplated the cession of Porto Rico to the United States, and the entire substitution of American money for that which had theretofore circulated in Porto Rico, and the retirement of all the other money.
Source: Wikisource

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