Hill v. Wallace

SCOTUSCase
Litigants=Hill v. Wallace
ArgueDate=January 11
ArgueYear=1922
DecideDate=May 15
DecideYear=1922
FullName=Hill et al. v. Wallace, Secretary of Agriculture et al.
Citation=42 S. Ct. 453, 66 L. Ed. 822
USVol=259
USPage=44
Prior=
Subsequent=
Holding= The Futures Trading Act of 1921, approved August 24, 1921. USStat|42|187, c. 86, which attempted to institute Federal regulation of grain futures contract trading by imposing a prohibitive tax on futures contracts traded on any market other than those which met the requirements of the statute and were regulated by the Secretary of Agriculture was an unconstitutional exercise of the taxing power of Congress.
SCOTUS=1922
Majority=Taft
JoinMajority=Brandeis
LawsApplied=US Constitution Article I, Sec. 8.

"Hill v. Wallace", 259 U.S. 44 (1922), was a case in which the United States Supreme Court held that the Future Trading Act is unconstitutional use of Congress's taxing power.

The Futures Trading Act of 1921, approved August 24, 1921. USStat|42| 187, c. 86 attempted to institute Federal regulation of grain futures contract trading by imposing a prohibitive tax on futures contracts traded on any market other than those which met the requirements of the statute and were regulated by the Secretary of Agriculture. The court found it was an unconstitutional exercise of the taxing power of Congress. Congress responded to the Court's decision by passing the Grain Futures Act in September 1922 based on the Commerce Clause. The Grain Futures Act was held to be constitutional by the Court in "Board of Trade of City of Chicago v. Olsen" (1923)

ee also

*"Trusler v. Crooks" (1926)
*List of United States Supreme Court cases, volume 259

ource

* [http://caselaw.lp.findlaw.com/cgi-bin/getcase.pl?friend=nytimes&court=us&vol=259&invol=44 Decision of the court] courtesy of FindLaw.com