Isn’t this about where our Constitution began to be discredited by black citizens? Taney is remembered for a grossly misconstructed Supreme Court decision yet, he seemed to exemplify exactly the opposite in his personal life.
In times of turmoil, we sometimes make grossly mistaken decisions that affect a great many people and circumstances for a very long time. Such is the case of the once glorified Tennessee Valley Authority, which as a federal agency promised to rid us of the Great Depression symptoms.
Yes, fear was in the air; any plan of hope will do, shove private enterprise aside, and let the plan from Washington begin. Temporarily, TVA did provide some jobs (my Dad actually worked on electrifying one of the dams) but it seemed that FDR had another plan in mind for TVA to “electrify America.” Congress squelched the idea of so-called “little TVA’s” however; TVA itself has grown into a behemoth of epic proportions and mostly without supervision or oversight by Congress.
When the law was changed so that TVA became “self-sufficient” it just opened the backdoor to exotic financing, debt financing that nears $30 billion dollars today.
Income to the federal TVA now is about $10 billion annually and by 2015 the total will reach $500 billion (is that a half-trillion dollars?) for the preceding five years. That is a huge amount of money going for federally directed projects; when TVA is liquidated those moneys will go to our free-market economy coffers instead of supporting the federal government.
Yes, the Taney decision was a horrible mistake but in terms of dollars taken from the nine million citizens in the South for federal purposes, TVA is by far the winner.