Cause and effect essay on the Dred Scott decision - 1

Cause and effect on the Dred Scott decision - Essay Example This made Scott to consider the decision of appealing against the ruling, in which case, Justice McLean ruled that the fact that denying Scott justice because he was not a US citizen was less of a matter of law but more of taste (Schwarz 102). This decision brought about major changes in the political, social and economic arenas in the United States. Dred Scott’s decision had economic causes and effects in the United States. According to Calomiris and Schweikart (21), the decision that denying the slaves justice was more of taste than legal caused a lot of uncertainty (1987) as to whether the whole of the West would be engulfed by slaves like Kansas, and this gripped the markets. The railroads on East West Bonds immediately collapsed and in turn, many large banks nearly collapsed. Another cause of this economic effect was that the branch banking system in the South, which was superior, came to be comparable to the North’s unit banking (Calomiris and Schweikart 43). Panic transmission was however minor, because of diversification of branch banking systems in the south. However, the movement of information among branch banks was reliable while that of the competitors in the North’s unit banks seldom shared important information. In the broader perspective, the southerners were convinced by the panic that white s are kings, and hence, they had no reason to economically fear the North, unless there was a move to end the slavery. The political effect of Dred Scotts’ decision was caused by the Missouri Compromise repeal which was successfully sought by politicians of the Democratic Party. that lead to the passing of the Act of Kansas-Nebraska (Calomiris and Schweikart 47). The act allowed every 40th parallel new state in the south to solely determine whether to be a free or slave state. The Supreme Court, with Dred Scott, under Taney looked for ways