RESPONDENT: Bank of Commonwealth of Kentucky
DOCKET NO.: None
DECIDED BY: Taney Court (1836-1837)
ARGUED: Jan 28, 1837 / Jan 31, 1837 / Feb 01, 1837
DECIDED: Feb 11, 1837
Facts of the case
Kentucky authorized a state owned and operated bank to issue bank notes that circulated as currency. The bank gave Briscoe the notes in exchange for a promissory note. Briscoe failed to repay, so the bank sued him. Briscoe claimed that the bank (and thus Kentucky) had violated the Constitution.
By issuing notes and currency, did the bank violate the constitutional prohibition in Article I Section 10 that "[n]o State shall...emit Bills of Credit"?