Yazoo: The Case of Fletcher V. Peck (Paperback or Softback)

"For three decades," writes C. Peter Magrath in the Preface to this book, "the name 'Yazoo' stood for a series of events which scandalized the state of Georgia, troubled Congress and the administrations of Washington, Adams,Jefferson, and Madison, and divided Jefferson's Republican party." The issue was a gigantic, fraudulent speculation in Yazoo River lands, including the bribery of an entire legislature and the sale of nearly all of Alabama and Mississippi for $500,000. Stymied in the Congress, the pressure group behind the Yazoo affair took the dispute to the Supreme Court, where, in the case of Fletcher v. Peck, it became the basis of a precedent-making decision that would subsequently have a profound effect on American constitutional history.

Chief Justice Marshall's decision was historically significant not only because it was the first in a long line of contract cases, but became the "doctrine of vested rights," one of the most influential doctrines of American constitutionalism, was derived from its three basic assumptions: the inclusion of public grants under the limitations of the contract clause, the primacy of vested property as a constitutional value, and the judicial duty to void legislative impairments of contract rights. Fletcher v. Peck, Mr. Magrath points out, also demonstrates "one of the enduring characteristics of our constitutional system, the role of interest groups in soliciting valuable constitutional decisions from the Supreme Court."

C. Peter Magrath's thorough exploration of the origins and consequences of Fletcher v. Peck provides valuable insights into both American constitutional politics and the Supreme Court's present function in the broad political process. The book includes extensive appendixes in which are reprinted the major Yazoo documents — pamphlets, extracts from the congressional debates, the full text of the Georgia repeal act of 1796, and the Supreme Court opinion in Fletcher v. Peck.