AN ARGUMENT, IN FAVOR OF THE CONSTITUTIONALITY OF THE GENERAL BANKING LAW OF THIS STATE, DELIVERED BEFORE THE SUPREME COURT, AT THE JULY TERM, 1839.

Geneva: Ira Merrell, Printer, 1839. 101, [1- errata] pp. Disbound, scattered foxing. Good+.

Foot "traces the development of banks as private corporations and describes the legislative process involved in their regulation" [Cohen]. His prefatory 'Advertisement' says the case is of "unparalleled importance." The fate of "hundreds of millions" of dollars depended on its outcome. New York's Constitution strictly regulated the legislature's authority to create corporations; opponents of New York's Banking Law argued that the Act violated that constitutional provision.
The case was entitled, 'Anson Thomas, President of the Bank of Central New-York vs. Samuel D. Dakin.' Dakin's checks were dishonored for lack of funds; when the Bank sued him, he claimed that the Bank of Central New-York, which was conducting business under New York's banking law, was doing so illegally because that law violated the Constitution. Foot, who argued for the Act's constitutionality, "has given a full history of the origin and passage of the statute, and, in notes, brief sketches of the character of several gentlemen who were either its prominent supporters or have approved of it since its passage. He has also added an Appendix, containing a concise exposition of the powers which the law confers on the banking institutions organized under it, and the advantages which they are supposed to have over the old banks" [II Foot, AUTOBIOGRAPHY 211 (New York: 1872)].
Cohen 11237. Item #33128

Price: $375.00

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