This US Supreme Court case involved the Mechanics' and Traders' Bank, Branch of the State Bank of Ohio (the plaintiff) and Charles Thomas, Treasurer of Hamilton County (the defendant). The plaintiff brought suit against the defendant for failing to pay a debt. The court found that while there was sufficient evidence to prove that a debt existed between the parties, it could not be enforced due to an act passed by Congress in 1841 which prohibited state banks from suing states or their officers in federal courts. As such, this ruling set forth precedent regarding how state banks can pursue debts owed by states or their officers.

In the case of The Mechanics' and Traders' Bank, Branch of the State Bank of Ohio v. Charles Thomas, Treasurer of Hamilton County, Chief Justice Taney delivered a dissenting opinion. He argued that although it was true that state banks were not allowed to issue notes for circulation as currency under federal law, this did not mean they could be prevented from issuing notes in exchange for deposits or other obligations due to them. Furthermore, he asserted that even if such an act would have been illegal at common law prior to the adoption of the Constitution (as suggested by Justice Grier), it had since become legal through subsequent legislation passed by Congress which authorized state banks to issue bills and notes in exchange for deposits or other obligations due to them. Therefore, he concluded that any attempt on behalf of Hamilton County's treasurer to prevent The Mechanics' and Traders’ Bank from engaging in such activities was unconstitutional as it violated both their rights under federal law as well as those granted by their charter issued by Ohio's legislature.