First published in 1843, this book is a response to Daniel Webster's legal opinion on the legality of state bonds and loans of state credit. The author, Calvin Colton, argues against Webster's position, asserting that it is unconstitutional and unfair. This work is of historical and legal significance, shedding light on debates surrounding the role of states in the economy of the young United States. Legal scholars, historians, and economists will find it a valuable resource.

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.

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