The argument Oliver Wendell Holmes was making in this quotation about how the federal system works is that:
- "The Supreme Court needs to be able to settle disputes between the states and the federal government by reviewing the constitutionality of state laws."
- This is evident when he said, "I do think the Union would be imperiled if we could not make the declaration as to the laws of several States."
Hence, in this case, it is concluded that Oliver Wendell Holmes felt for the federal system to work, the Supreme court should be able to make the distinction between federal and state laws.
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The point on the demand curve that represents the highest quantity demanded would be known as the Maximum point.
