1. McCulloch Vs. Maryland
... of "Implied Powers" that has become the cornerstone of American constitutional law. "This decision became the legal safeguard not only for the Second Bank of the United States and its notes, but also for paper money later issued by Congress" (McCulloch Vs. Maryland (2), p11). This case was the first test of the constitutionality of federally chartered banks and nationally issued paper ... banks, imposed heavy taxes on the federal bank. The aim of these taxes was to shut down the federal bank" (Lockard, 131). James McCulloch, the cashier for the bank issued notes without paying the taxes...
- Word Count: 1154
- Approx Pages: 5
- Grade Level: High School