Railroad Co. v. Tennessee

Mr. Chiee Justice Waite

delivered the opinion of the court.

On the 19th of January, 1838, the Stat§ of Tennessee established a bank in its»own name and for its own benefit, and pledged its faith" and credit to give indemnity for all losses arising from any deficiency in the funds specifically appropriated as capital. The State was the only stockholder, and entitled to all the profits of the business. The bank was by its charter capable of suing and being sued. At that time the Constitution of the State contained this provision: “Suits may be brought against the State in such manner and,in such…