[San Francisco]: B.F. Sterett, . 101pp. Original printed wrappers. Light vertical crease. Light chipping to spine ends and corners, light foxing and soiling. Contemporary ownership inscription on rear cover. A few pencil notes to text. Very good. Item #1181
Legal argument by a future governor of California in an important case relating to the paper currency issued during the Civil War, which could be used in place of gold. The case revolves around $450 for rent of a store building, owed by William Faulkner to James Lick, which he paid in greenbacks. Lick refused to accept the payment, and in the subsequent legal proceedings the constitutionality of the Legal Tender Act was brought into question. The California Supreme Court upheld the Act, and greenbacks, then worth about 60 cents on the dollar in San Francisco, could legally be used in place of gold coins. This was one of the earliest court decisions in the U.S. on the parity of paper money and gold coins.