BLACK MONDAY:

• The supreme court, of the corporate United states, decides Louisville Joint Stock Land Bank v. Radford, declaring the Frazier-Lemke Farm Bankruptcy Act to be an unlawful taking of property without just compensation in violation of Article V of Amendment.
• The supreme court, of the corporate United states, decides A.L.A. Schechter Poultry v. United states, declaring the National Industrial Recovery Act to be an unlawful intrusion of CONgress on the state’s prerogative to regulate intrastate commerce.

       [restored 7/11/2022] Thanks to Jim Lorenz for his contributions to this entry.