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SAVAGE V. UNITED STATES, 92 U. S. 382 (1875)

U.S. Supreme Court

Savage v. United States, 92 U.S. 382 (1875)

Savage v. United States

92 U.S. 382


1. The holder of Treasury notes, payable three years after date, which were issued under the authority of an Act of July 17, 1861, 12 Stat. 259, demanded payment in gold of the principal and interest due thereon. The Secretary of the Treasury refused payment in that medium, but offered it in legal tender notes. The holder, under protest, received the offered

Page 92 U. S. 383

payment in full discharge of the notes, surrendered them to be cancelled, and brought an action against the United States to recover the difference in the market value of gold and of legal tender notes at the date of such payment. Held that by accepting the medium offered, and surrendering the Treasury notes, the holder waived all claim, independently of the question whether or not that medium was a legal tender in payment of them.

2. The protest, being unauthorized by law, had no efficacy to qualify the voluntary surrender of the Treasury notes.

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