The Keokuk was a case heard by the United States Supreme Court in 1869. The case involved a dispute between the United States and the State of Iowa over the ownership of a steamboat called the Keokuk. The United States claimed that the Keokuk was a vessel of the United States Navy and thus belonged to the federal government. The State of Iowa argued that the Keokuk was a vessel of the State of Iowa and thus belonged to the state. The Supreme Court ultimately sided with the United States, ruling that the Keokuk was a vessel of the United States Navy and thus belonged to the federal government. The Court held that the United States had a superior right to the vessel, as it had been purchased with federal funds and was used for federal purposes. The Court also held that the State of Iowa had no right to the vessel, as it had not purchased it or used it for any state purpose. The Keokuk case was an important decision in the development of federalism in the United States. The Court's ruling established the principle that the federal government has a superior right to vessels purchased with federal funds and used for federal purposes. This ruling has been cited in numerous subsequent cases involving the ownership of vessels and other property.

In The Keokuk, the Supreme Court was asked to decide whether a steamboat company had violated a contract with its employees by reducing their wages. In an 8-1 decision, the court held that the company did not violate any contractual obligations when it reduced wages due to economic conditions. Justice Field wrote a dissenting opinion in which he argued that employers should be held accountable for their promises and contracts should be enforced as written. He believed that if companies were allowed to reduce wages without consequence then they would have no incentive to keep their word or honor agreements made with workers. Furthermore, Field argued that allowing companies this freedom could lead to unfair labor practices and exploitation of workers who are unable or unwilling to fight back against such actions taken by employers.