Key Cases Dealing with Monetary Policy


Coinage act of 1792

Defines the dollar


McCullock vs. Maryland 1819

Supreme Court rules Congress has the power to incorporate a bank


Craig vs. Missouri 1830

Supreme Court rules against States issuing bills of credit


Coinage Act of 1834


Darrington vs. Bank of Alabama 1851

Supreme Court rules in favor of State emitted bills of credit


Hepburn v. Griswold 1869

Supreme Court rules against legal tender aspects of bills of credit


Knox vs. Lee 1870

Supreme Court decides Greenbacks a fiat currency are Consttutional


Juilliard vs. Greenman 1884

Supreme Court again decides legal tender paper currency is Constitutional


Houston & Texas Central Railroad vs. Texas 1900

The overruling of Craig vs. Missouri


King Su Fan vs. United States

Supreme Court case dealing with the exportation of Philippine silver coins from the Philippines


Nortz vs. United States 1935

Gold seizure by the United States government


Guaranty Trust Company vs. Henwood 1939

Supreme Court deals with problems when Congress prohibits gold clauses in contracts


Ware vs. United States 1978

United States Court of Appeals 10th District tries to differentiate between Federal Reserve Notes and dollars


Cordner vs. United States 1982

United States Court of Appeals 9th District claims gold coins are both "money" and "property"


Lary vs. Commisioner of Internal Revenue 1988

United States Court of Appeals 11th Circuit claims gold coins are both "money" and "property"


March 20, 2011

Supreme Court decides Federal Reserve must release its "discount window" operations