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.
W. A.Robinson/a. r.
"Veazie Bank v. Fenno." Dictionary of American History. . Encyclopedia.com. (July 20, 2018). http://www.encyclopedia.com/history/dictionaries-thesauruses-pictures-and-press-releases/veazie-bank-v-fenno
"Veazie Bank v. Fenno." Dictionary of American History. . Retrieved July 20, 2018 from Encyclopedia.com: http://www.encyclopedia.com/history/dictionaries-thesauruses-pictures-and-press-releases/veazie-bank-v-fenno
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