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Story January 25, 1870

Alexandria Gazette

Alexandria, Alexandria County, District Of Columbia

What is this article about?

In a U.S. Supreme Court case, J. C. Willard sued B. Ogle Tayloe over a lease with purchase option for a Washington mansion. After the war increased the property's value, Willard tendered greenbacks, but Tayloe demanded gold. The Court ruled Tayloe entitled to gold payment, sidestepping the Legal Tender Act's constitutionality.

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Full Text

In the Supreme Court of the U. S. an opinion was delivered yesterday in the case of J. C. Willard against B. Ogle Tayloe. Willard leased from Tayloe the mansion property adjoining the Mansion House in Washington, for the period of ten years, with the privilege of purchasing it any time within that period for a stipulated price. Before the expiration of the ten years the war broke out and the property greatly increased in value. Willard tendered the price agreed upon and demanded the deeds. Tayloe refused greenbacks and demanded gold in payment; hence the case was thrown into court. The decision yesterday was to the effect that the defendant should receive gold for the property. The Court declared that it is not the intention of this opinion to determine upon the constitutionality of the Legal Tender act in respect to contracts made prior to its passage, remarking that that question is directly presented in, and will be disposed of by decisions in other cases now pending.

What sub-type of article is it?

Historical Event

What themes does it cover?

Justice Fortune Reversal

What keywords are associated?

Supreme Court Case Legal Tender Act Gold Payment Property Lease Civil War Impact

What entities or persons were involved?

J. C. Willard B. Ogle Tayloe

Where did it happen?

Washington

Story Details

Key Persons

J. C. Willard B. Ogle Tayloe

Location

Washington

Story Details

Willard leased Tayloe's mansion property adjoining the Mansion House in Washington for ten years with option to purchase at stipulated price. War increased value before expiration. Willard tendered agreed price in greenbacks; Tayloe refused, demanding gold. Supreme Court ruled defendant receives gold, without deciding Legal Tender Act's constitutionality for prior contracts.

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