The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-01-26
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Report of the judiciary Committee
OF the House of Delegates on the
Taxation OF United States Securities
by states. n a. - sI -
Unanimously adopted by the House, Janu-
| y F13E5s - iary 2Ith5 tS66.pHH ,-7F'aH ~
To the Speaker Of The House of Dele
gates:
The Judiciary Committee, to whom
was referred the resolution offeredlPy
Mr.. linn, as follows:
"ResoEUed, That, q innsmuch as the
Constitution ofSWest Virginia, article
VIII, section ], declares that taxation
shall ibeEequal md uniform throughout
the State, the Committee on the Judici-
ary is hereby requested to take into
considerationthe propriety of leYying
Bonds yhnd Securities Of every descrip-
ton belonging to the citizens of the
State of West Virginia in the same
manner that other property belonging
to the citizens of the State Is taxed
have maturely considered the subject
JOlIlb
of the Judiciary Committees Of the
Senate and House of Delegates and res
| pectfully report that in our opinion the
| Legislature has no power tolevy a tax
on s'United States Government Bonds
and Securities of every description
belonging to the citizens OF the
State of West Virginia in the
same manner that other property
belonging to the citizens of the State Is
taxed, p for the following among other
The second section of. the sixth arti-
Gle of the Constitution of the United
States, in defining the powers of the
general government, says "Ihis Con,
stitution and they laws of the United
States which shall be made in pursu-
ance thereof, and ell treaties made or
which shall be made under the authori-
ty of the United States shall be the su-
preme law. of the land and the Judges
in every State shall be bound thereby,
anything in the Constitution or laws OF
any State to the contrary notwithstand-
ing"
the Constitution of the United States
and the laws ofthe United States made
in pursuance thereof, and certain trea-
ties. are the supreme law of the land /;
and that whenever the Constitution or
law of any State comes in conflict with
the Constitution or law of the United
States, the Constitution or law of the
State so far as inconsistent with, must
Weld to the Constitution or lawof the
United States.
of the Constitution of the United States
| in defining the powers of Congress, pro-
vides that Congress shall have power
''to borrowamoney on the credit OF the
United States"
During the existence of the rebellion
which has but lately closed, 1t became
necessary to exercise freely this power,
| Hto borrow money on the credit of the
United States" to meet the demands on
| the General Government to enable 1t 10
| snnply the brave soldiers who had SO
nobly clothed themselves in blue and
| ranged themselves under the stars and
stripes. .ls....,,
Act to authorize the issue of United
States Notes, and for the Redemption
| or Funding thereof, and for tund1ng
the Floating Debt of the United States, >
approved February 25, 1852, United
States Statutes at Large, Vol; II, page
| 345. section 2, 1t is provided, among
other things, that "all stocks, bonds and
/ other securities of the United States
| held by individuals, corporations OF
associations within, the United States
shall be exempt from taxation by or
under State authority"
4 Under dcIt "nlCI1 blIO AAAob CAAS
| of the kind passed after the beginning
| OF the war, large amounts of United
\ states notes, stocks, bonds and other
\ securities were issued, which as ,well as
4 ali other United States stocks, bonds
1 and other securities issued before thai
1 time. according to the express provision
| of the act are exempt rom taA"tlou
| by or under State authority"
5EBy another act of Congress, entitled
HAn Act to provide ways and means
/ for the support of the Government, ;,
approved March 8, 1853, United
States Statutes at Large vol. 20 gnla, ~.
"aII the bonds and treasury notes or
| United States notes, issued under the
/ provisions of this act, shall be! exempt
| from taxation by or under State or mu-
| nicipal authority" ys ,tz....,s 3,
. BY another act of Congress entitle d
ttan act to provide ways and means Tor
/ the support OF the Government and for
i other purposes, !" "approyedJune so, 1854,
United States statutes at large, volume
| is. page 2IS,, section 1, among. other
| things It is provided that "all bonds,
treasury notes, and other obligations OIL
the United States shall be exempt nom
| taxation by or under State or munich
| pal authority" 3i@
| And by another act OF Congress, enti-
1 tied "an act to amend an actentitled an
/ act to provide ways and means for the
| support of the Government and for 9TH
er purposes" approved June 80, 1854,
/ approved January 2S, 1855, United
| States statutes at large, volume 13, page
425l se6tionl1, it is provided, among 9TH
| er things, that such notes, meaning
treasury notes to be issued, under the
act, ttshallibe exempt from taxation by
or under State or municipal author
ity." ...a..l5 -. Z
acts of Congress "alI United States Gov
ernment bonds and securities of every
description, now nnextstence, haVE
been issued, except the few issued be-
fore February 35, 1852, and are by the
\ express provision of the. act undel
which issued, exempt from taxation by
or under Stateor municipal authority,
and the few which were issued before
| February 25, 1862, are exempt from like
taxation by the act approved on that
day. sgqa ~ i1i7i.. q 7glsl
IL will be observed that the first sec.
tion of article eight, of the Constitu'
1 ton OF. this State, referred to in tht
resolution nnder consideration, which
nroyides that ataxation shall be equa
and uniform throughout the State, ano
al property both real and personal sinai
he taxed in proportion to its value, /" Il
Inconsistent with these four genera
| acts OF Congress, SO far as the acts o
Congress exempt rom taxation by Of
undsr State or municipal authority
isUnited States Government bonds anC
securities of every description and 81
far as inconsistent with the said acts
Congress, must yield 70 them aecorulns az y
4 to the second section of the sixth ar1clt
OF the Constitution of the United States
] herein before referred to. -
1 THE subject of the power OF a State u