UNITED STATES SUPREME COURT DECISIONS ON-LINE

Under the second section of the Act of Congress approved July 17, 1862, 12 Stat. 592, which declares that

"No private corporation, banking association, firm, or individual shall make, issue, circulate, or pay out any note, check, memorandum, token, or other obligation for a less sum than one dollar intended to circulate as money, or to be received or used in lieu of lawful money of the United States,"

A. was indicted for circulating obligations in the following form:

"BANGOR, MICH., Aug. 15, 1874"

"The Bangor Furnace Company will pay the bearer, on demand, fifty cents in goods, at their store, in Bangor, Mich."

"[Signed]"

"A. B. HOUGH, Pres."

"CHAS. D. RHODER, Treas."

The indictment charged that he intended them to circulate as money, and to be received and used in lieu of lawful money of the United States. Held that, as the obligations were payable in goods and not in money, and the sum of fifty cents was named merely as the limit of the value of the goods demandable, the indictment was bad on demurrer.

The facts are stated in the opinion of the Court. clubjuris

Page 96 U. S. 367