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[5] Report of the Monetary Commission of the Indianapolis Convention, pp. 131–7. The Hollenbeck Press, Indianapolis, 1900.

[6] "A contract payable in money generally is, undoubtedly, payable in any kind of money made by law legal tender, at the option of the debtor at the time of payment. He contracts simply to pay so much money, and creates a debt pure and simple; and by paying what the law says is money his contract is performed. But, if he agrees to pay in gold coin, it is not an agreement to pay money simply, but to pay or deliver a specific kind of money and nothing else; and the payment in any other is not a fulfilment of the contract according to its terms or the intention of the parties." 25 California 564, Carpenter vs. Atherton.

[7] For a contrary view, see Joseph French Johnson, Money and Currency, Chapter 13.—Editor.