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Fincastle, Botetourt County, Virginia
What is this article about?
In Louisville's Magistrate's Court on Nov. 28, a mechanic sued for payment in specie after refusing Kentucky paper currency for services. The justice ruled for half the bill amount, reflecting the difference between paper and specie values.
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Magistrate's Court Louisville, Nov. 28.
This was a suit commenced, for services performed by a mechanic. After performing the work, the plaintiff presented his bill and the defendant offered to make payment in the currency of the state, (Kentucky and Commonwealth's paper which the plaintiff refused, and commenced suit to recover the amount of his bill in specie.
It was contended by the counsel on the part of the plaintiff, that the law knew no currency but that which is composed of gold and silver coin, and that the justice could not give judgment for any thing else.
The counsel for the defendant argued, that the court had a right to scale the paper; or rather, the bank notes were a commodity, and in giving judgment for specie, the court should be governed by the value of the commodity which the defendant had agreed to pay. It was satisfactorily proved, that the bill was made out, and the work charged at the ordinary rates in current paper. After taking time to consider the case, the justice gave judgment for one half of the amount of the plaintiff's bill, it being the actual difference between paper and specie. We have not been able to learn which of the parties had to pay the costs of the suit.
[Ken. paper.
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Where did it happen?
Domestic News Details
Primary Location
Louisville
Event Date
Nov. 28
Outcome
judgment for one half of the plaintiff's bill, reflecting the difference between paper and specie; costs unknown.
Event Details
A mechanic sued a defendant for payment in specie after refusing Kentucky paper currency for performed services. Plaintiff's counsel argued law recognizes only gold and silver as currency. Defendant's counsel claimed court should scale based on paper's commodity value. Bill proved at ordinary paper rates.