92 U.S. 618 (____)


Supreme Court of United States.

Attorney(s) appearing for the Case

Mr. William M. Evarts, Mr. R.L. Ashhurst, and Mr. W.P. Clough, for the appellant.

Mr. Attorney-General Pierrepont and Mr. R.C. McMurtrie, contra.

MR. JUSTICE SWAYNE delivered the opinion of the court.

This case turns upon legal propositions. There is no controversy about the facts. Jay Cooke, McCulloch, & Co., bankers, of London, were appointed by the United States disbursing agents for the Navy Department. On the 19th of October, 1873, they were indebted to the department for the balance of moneys placed in their hands for disbursement, in the sum of £131,610 9s. 8d. On or about the 20th of September...

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