The Baltimore was a case heard by the United States Supreme Court in 1869. The case involved a dispute between the owners of the steamship Baltimore and the owners of the steamship New York. The Baltimore had been damaged in a collision with the New York, and the owners of the Baltimore sought to recover damages from the owners of the New York. The Supreme Court held that the owners of the Baltimore were entitled to recover damages from the owners of the New York. The Court held that the owners of the New York were liable for the damages caused by the collision, even though the collision was caused by the negligence of the captain of the Baltimore. The Court reasoned that the owners of the New York had a duty to exercise reasonable care to avoid a collision, and that they had failed to do so. The Court also held that the owners of the Baltimore were entitled to recover damages for the loss of the vessel, as well as for the loss of cargo and other expenses incurred as a result of the collision. The Court held that the owners of the New York were liable for the damages caused by the collision, regardless of whether the collision was caused by the negligence of the captain of the Baltimore. The decision in The Baltimore established the principle that the owners of a vessel are liable for damages caused by a collision, even if the collision was caused by the negligence of the captain of the other vessel. This principle has been applied in numerous cases since then, and is still the law today.

In the case of The Baltimore, the Supreme Court was tasked with determining whether a state-chartered bank could issue notes that were not backed by gold or silver. In a 5-4 decision, the majority opinion held that such notes were unconstitutional and violated Congress’s power to coin money. Justice Swayne wrote a dissenting opinion in which he argued that states had an inherent right to create their own currency and should be allowed to do so without interference from Congress. He further argued that if states are prohibited from issuing paper money then they will be unable to meet their obligations during times of financial crisis, as happened during the Civil War when many banks failed due to lack of liquidity. Furthermore, he noted how other countries have successfully used paper money for centuries without any ill effects on their economies or currencies. Ultimately, Justice Swayne concluded his dissent by asserting that it is up to each individual state—not Congress—to decide what form its currency should take and urged them all “to exercise this sovereign prerogative wisely and judiciously."