Veazie Bank v. Fenno
VEAZIE BANK V. FENNO
VEAZIE BANK V. FENNO, 75 U.S. (8 Wallace) 533 (1869). In 1866 Congress imposed a 10 percent tax on the notes issued by state banks in order to drive the notes out of circulation. In 1869 the Supreme Court, in Veazie Bank v. Fenno, upheld the constitutionality of the enactment on the ground that this destructive use of the taxing power was for an object clearly within the constitutional powers of Congress—the power to regulate the currency of the nation.
BIBLIOGRAPHY
Bensel, Richard Franklin. Yankee Leviathan: The Origins of Central State Authority in America, 1859–1877. New York: Cambridge University Press, 1990.
W. A.Robinson/a. r.
See alsoBanking: State Banks ; Legal Tender ; Money ; Reconstruction ; Taxation .
More From encyclopedia.com
Bank Of The United States , The American Revolutionary War resulted in the emergence of a new country faced with the task of establishing a fundamental basis for government embo… Mcculloch V Maryland , McCulloch v. Maryland
U.S. Supreme Court chief justice John Marshall's opinion in McCulloch v. Maryland (1819) ranks, along with his opinion in Marbu… Bank Mergers , Banking
This entry includes 9 subentries:
Overview
Bank Failures
Banking Acts of 1933 and 1935
Banking Crisis of 1933
Export-Import
Banks Investment… Financial disclosure , BANKING
This entry includes 9 subentries:
Overview
Bank Failures
Banking Acts of 1933 and 1935
Banking Crisis of 1933
Export-Import
Banks Investment… Bankamerica Corp , BankAmerica Corp
Bankamerica Corporation
555 California Street
San Francisco, California 94104
(415) 622-3456
Public Company
Incorporated: 1904 as th… Bank Of England , Bank of England, central bank and note-issuing institution of Great Britain. Popularly known as the Old Lady of Threadneedle Street, its main office…
You Might Also Like
NEARBY TERMS
Veazie Bank v. Fenno