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Almost as disconcerting to citizens was the news that the legality of the country's monetary policy was approved by only five of the nine Justices of the Court. New Dealers were pleased that Chief Justice Hughes had joined with Liberals Brandeis, Cardozo, Roberts and Stone to give them comfort. Little did they care about the dissent of four Justices, for they look down very long Liberal noses at the four Conservatives: Justices Sutherland, Van Devanter, Butler and McReynolds—in particular at Justice McReynolds. To many an impartial observer the majority opinion, upholding the Government in every case without exception, would have seemed stronger had Mr. Hughes not thundered so loud, and the dissenting opinion would have borne more weight had it been written by a less uncompromising reactionary than Mr. McReynolds. Seldom have words like his been spoken in the Supreme Court.
Announcing to begin with that he would not read his decision—it would be on record for anyone to see—Justice McReynolds launched not into an opinion but into an elegy for honesty and good government.
"It seems impossible to overestimate the result of what has been done here this day. . . . God knows, I do not want to talk about such matters but it is my duty. . . . The Constitution is gone. . . . This is Nero in his worst form. We are confronted with a dollar which has been reduced to 60¢ which may be 30¢ tomorrow, 10¢ the next day and 1¢the day following. "We have tried to prevent its entrance into our legal system but have tried in vain. . . ."