South Carolina v. Gaillard
Supreme Court of the United States
Error to the Supreme Court of the State of South Carolina. The facts of this case are as follows: — In December, 1812, the State of South Carolina established a bank in the name and for the benefit of the State, and pledged the faith of the State to supply any deficiency in the funds specially set apart as its capital, and to make good any losses arising from such deficiency.
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Error to the Supreme Court of the State of South Carolina. The facts of this case are as follows: — In December, 1812, the State of South Carolina established a bank in the name and for the benefit of the State, and pledged the faith of the State to supply any deficiency in the funds specially set apart as its capital, and to make good any losses arising from such deficiency. The bank was authorized to issue notes and bills for circulation, and by sect. 16 it was provided “ that the bills or notes of the said corporation originally made payable, or which have become payable on demand in gold…
1Opinion of the CourtChief Justice Waite
No question is raised in this case as to whether or not the act of 1877 impaired the obligation of the contract of the State, which is contained in the bills of the bank, or the charter. By accepting the act and bringing suit under it,' Trenholm conceded its validity. He contends, however, that when he tendered his bills in payment of his taxes, and so far complied with the provisions of that act as to allow the bills to be deposited with the clerk of the court to abide the result of any proceeding that might be instituted in regard to them, the State entered into a new contract with him, by…
2Cases cited3 opinions
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- People Ex Rel. Eitel v. LindheimerIllinois Supreme Court · 1939
- National Carloading Corp. v. Phoenix-El Paso Express, Inc.Texas Supreme Court · 1943
- Pen-Ken Gas & Oil Corp. v. Warfield Natural Gas Co.Court of Appeals for the Sixth Circuit · 1943
- Merlo v. Johnston City & Big Muddy Coal & Mining Co.Illinois Supreme Court · 1913
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