Roger B. Taney

“ And the reason is obvious. The party is authorized to bring his case before this court, because a state court has refused to him a right to which he is entitled under the Constitution or laws of the United States. But if he omits to claim it in the state court there is no reason for permitting him to harass the adverse party by a writ of error to this court, when, for any thing that appears in the record the judgment of the state court might have been in his favor if its attention had been drawn to the question. ”

“ This is a writ of error to the Supreme Court of the state of Louisiana.
The Grand Gulf Railroad and Banking Company was chartered by the state of Mississippi in the year 1833. In 1840 an act was passed by the legislature of that state declaring that it should not be lawful for any bank in Mississippi to transfer by indorsement or otherwise any note, bill receivable, or other debt. ”

“ And in 1842, after the passage of this act, the bank having become insolvent and its notes greatly depreciated, assigned and transferred all of its notes, bills receivable, and other assets of any value to John Lindsey and Alfred Ingraham, in trust for the payment of its debts, in the order specified in the deed. ”