Reynolds v. Bank of Indiana

On the 1st day of April, 1862, John Reynolds presented to the Branch, at South Bend, of the Bank of the State of Indiana, certain notes or bills issued by that Branch, in the exercise of power conferred by the charter of the bank, *468and, within the usual banking hours, demanded their redemption in coin. The Branch refused to redeem the notes in coin, but offered to redeem them in treasury notes, issued under late acts of Congress, and declared, by act of Congress, to be a legal tender. These treasury notes, issued, as they are, upon no specie basis, but simply upon the indebtedness and credit…