The Supreme Court’s split decision in a case involving loan certificates issued by the state of Missouri showed the beginning of the Court’s evolution away from the influence of Chief Justice John Marshall.
Article I, section 10, of the U.S. Constitution bans states from emitting “bills of credits.” Nonetheless, Missouri had authorized circulating loan certificates, arguing that they were a legitimate exercise of state sovereignty. The state further challenged the constitutionality of section 25 of the 1789 Judiciary Act
The three dissenters Justices William Johnson, Smith Thompson, and John McLean believed that there was enough variation in the statutory language to exempt the Missouri law from the constitutional provision. Seven years later, the new chief justice, Roger Brooke Taney, upheld a variant of the Missouri currency arrangement in Briscoe v. Bank of the Commonwealth of Kentucky
Briscoe v. Bank of the Commonwealth of Kentucky
Cohens v. Virginia
Judiciary Act of 1789
States’ rights and state sovereignty