LOCATION: United States Congress
DOCKET NO.: 532
DECIDED BY: Hughes Court (1932-1937)
ARGUED: Jan 10, 1935 / Jan 11, 1935
DECIDED: Feb 18, 1935
Angus D. MacLean – for the respondent
Homer S. Cummings – for the respondent
John M. Perry – pro se for the petitioner
Facts of the case
John Perry bought a $10,000 gold bond which was payable in “gold coin of the present standard value”. When Perry purchased the bond, the standard gold dollars contained 25.8 grains of gold. By the time Perry redeemed the bond Congress changed the standard gold dollar to 15 5/21 grains. Perry claimed he was entitled to the weight of gold the original gold dollars would have given him instead of the dollar amount of the bond. The Court of Claims certified the question before the court.
Is Perry entitled to receive an amount in legal tender currency in excess of the face amount of the bond?