Political_Effects_of_Market_Revolution

Political_Effects_of_Market_Revolution - 2 Gibbons v Ogden...

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I. Political Effects of Market Revolution A. Supreme Court Decisions Favor Commerce 1. McCulloch v Maryland - As noted above, the State Legislature of Maryland imposed a tax that required the Second Bank of the United States to issue its notes on special stamped paper. The legislature handed down also stated that the Second Bank needed to pay the state $15,000 annually or go out of business. James McCulloch, a cashier at a branch of the bank refused to pay the tax and a suit was filed. The case was appealed to the Maryland Court of Appeals where the state of Maryland argued that "the Constitution is silent on the subject of banks." It was Maryland's contention that because the Constitution did not specifically state that the Federal Government was authorized to charter a bank, the Bank of the United States was unconstitutional. The court upheld Maryland. The case was then appealed to the Supreme Court.
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Unformatted text preview: 2. Gibbons v Ogden - The case started from an attempt by the State of New York to grant a monopoly of steamboat operation between New York and neighboring New Jersey. Robert Fulton and Robert Livingston were granted such exclusive rights. They licensed the New Jersey operator Aaron Ogden, formerly a U.S. Senator and Governor of New Jersey, to operate the ferry between New York City and Elizabeth Point in New Jersey. Thomas Gibbons was operating a competing ferry service which had been licensed by Congress in regulating the coasting trade. Ogden obtained an injunction from a New York court against Gibbons to keep him out of New York waters, maintaining that navigation was not a distinct form of commerce, and was thus a legitimate area of state regulation. 3. Stronger Protection for Contract rights B. Government Accountable for Economic stability – Debt relief in west...
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This note was uploaded on 05/01/2008 for the course HIST 105 taught by Professor Hatfield during the Spring '07 term at Texas A&M.

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