Witness insisted that the purchase of life insurance was an investment, although Mr. Fleming tried to point out that such could not be the case, but that plaintiff had merely gambled with defendant on the rise and fall of marks, saying, "You hoped that the inflated currency would deflate and you would make money."
Witness said that he declined to} accept the marks defendant company had placed with the U. S. Clerk of Court, as they were not legal tender.
As to the other $5,000 damage he was forced to sell Peking property at a loss between $5,000 and $6,000, because the company would not pay the policy in modern marks, At the conclusion of plaintiff's evidence Mr. Fleming moved for a dismissal as shown no breach of contract nei had they made out a prime facie case, The evidence showed that the Court for 15 years and I cannot recollect a single instance of a case being set for hearing on the same day when the motion was heard.
The Assessor—Then the Bench will make its ruling.
Tt was ruled that the Court recognized that, last year, the plaintiff was naturalized as a Brazilian. The case would be heard at a date to be; the allegiance of the' Zee, was.made @ Brazilian citizen, hearing. I have practised in. this fixed later. paid.
Mr. Walter, counsel for plaintitt, retorted " that they performed all parts of the agreement, Defendant's proffer was not legal tender, was useless and defendant's counsel had admitted that they were of no value. His client was not bound by their malfeasance in not protecting the policy, The policy was like a promissory note, he added.
Judge Purdy refused to dismiss the case and said that the whole matter rested on a point of law which currency the policy must be paid in, He did not like a case in which plaintiff had paid in say $400 and wanted to get out about $27,000 at the present rate of exchange, This whole point to be considered was the status of two currencies, ie., whether a govern= ment with a legal currency for as much as 10 years repudiates or legalizes another curreney—whether parties are bound to pay in the new currency. "I can't help you much," he said,
Text read from the printed page and cleaned; old type leaves the occasional error.