The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1868-04-03
Tarafioa Of Bssk stock.

In 1867 the Legislature requested Of the SUI
prsme Court decision upon the power Of the
State 10 tax the stock Of national Banks for the
use Of oities or towns other than tho~e in which
the said Banks are loc,,ei. The Court, Gap
ley and Diekerson disscntins) decided In the
negative. The decision Of the court causci
some little surprise at the time, and since then
Congress has passed. an explanatory act which
sustains the opinions Of the minority Of the
Court. The ilst section Of the Federal Act
providing for national currency, s,ys, "Pro-
yiiel, that nothing in this Act shall be constru-
ell to prevent all the shares In any Of said ssso-
cations . . . from being iSeinied in The raiu-
atos Of psrsonai property 80 10 the assess
msni Of tare inposei BY or Under State au-
thoriiy, at hs place ssasrs suei baak IS ioeated
and NOT ELsEwuERE."
The above has jalcially received three con-
structons by the court, in three States,-New
York regards the language as merely permIs-
siye, which construction Is the more readily I'M
dcrs,ocd by emphasizing only the word ''prc-
vent" In the above p,ss,se; our Court decided
the language to be mandatory, emphasizing II
rs printed; while Massachusetts, differs from
New York only in the reason OF arriving at the
same result that the tax may inurs to the plea
sure Of the S,a,e-but the Court comes to that
conclusion by constituting the word "plaec" to
mean State. And Il would seem that II we are
to con,,rue literally the worl ''plsce" to mean
the city or town in which the bank Is located, As
the Maine Court have decided, by the same pro-
cess Of reasoning We may decide ''plaee'' to
mean the ward Of the city in which !, is located,
which proves too much.
As before indicated, Justices Tapley and Dick
erson dissented ifUm the majority opinion Of the
Court, believing that there was nothing in the
feleral Act in,erlictins the State from apprO-
pristins the tax Of bank shares in such man.
ner rs the said State may by law designate. .
JUICE Dickerson's opinion was published In the /.
last Report together with that Of the majority. |
The Recorder has sent Us the advance sheets Of
the forthcoming Report from which We get the
following dissenting and able opinion Of Judge
Tapley. The view taken by the Judge is one
In harmony wish that Of the Courts in other
States and Is further guaranteed by an explain
atory act Of the present Congress. 1t will add
10 his already eminent reputation as jurist:
Iouss ~ Representatives,, February 70, ise'
OnprRsp;-Ihat the Justices Of the Supreme
Judicial Court are hereby requested to give their
opinions upon the following questions.-
I.,. Docs the Law OF Congress, creating National
Ranks and Daaking Associations, reqalr. that all
taxes as.ssed ny virtue of state law the shares
&c such hanks snail b. applied to the use and bene
d, of the city OF t'wu IN which the same Is loest'
ell where shar,' In such hanks are owned in some
ether city er town In this staios
Al Are the provisions contained In sections
three and ioar oi bill enttl.t' sn Act providing
TOR the TAXATION ofthe property and stock OF Nat
iouaI banks and banking Associations In The
state of Maine" now pending heiore the Legisia
tu., A copy uf which bilt accOn panics this order
insoasistcnt with ANY existing Law OF consrrss'
trhc opinion OF q majority Of the Court, and
dissenting opinion OF Dekerson, j., were pub
lishei in Appendix to vol. 50 Maine RepOrts.l
-".'.' DISSENTING OPINION.
In answer to the foregoing interrogatorics,
have the honor to submit the following answers
and suggestions. A majority Of the Court hay-
in; concurrcd in single opinion, drawn by the
Chief Justice, anil being myself unable to con-
cur in the views therein expressed, have not
deemci AN earlier answer necessary.
Tho forty-frst section OF the Act Of Congress,
entitled can Act TO provide national currency,
securci by a pie Ire OF United States bonds, and
10 provide Cor tho circulation and redemption
thereof" approved June ., 1861, contains the
following provisions, to wit -
,P,srif,d. that nothing In this Act shall he con
trusd ~ prsvsat all tho Shares In any of the said
associations he'll by any person or body corporate
from being included In tho vslustion of the per
sonal property &c such person er corporation, In
the assessment of taxes iaposes by or under state
authority. at tue place where such bank Is heated
and not ELSEWHERE, hut not al n greater rate than
IL assessed slssn other moacyed capital in the
hands Of indiy dual citizens VI such State.
-Prsv.lsd E.Ttl.r, that tho Tax 80 Imposed, ut.
der the lass nf any state upon the shares oians
ofths associations authorised by this Act, shall
ANN III the esnks OF Anitsd under authority Of IN,
state uheso such association "a located.
"Proeiisi also, that nothing In this Act shall eS'
empt tbs real estate of such associations noU
elber state county OF municipal taxes To the same
extent according 10 its value, 40 other real estate
Is tAyei."
These provisions Of the Act Of Congress, ne
fsrrel to In the interrog,torics propcundel, Sc
all that have an immediate ccaring upon the
question propcsel.
1. poes the law Of Congress creating Nation
al Banks and Banking Associations, require that
all taxes assessed by virtue Of State ON the shares
Of such hanks, shall be applied 10 the use and
benefit Of the city OF town in which the same Is
locstel, where shirvs In such banks are ownel
In somc other city or town in this Sute'
The right Of the State 10 tar such shares is
not now questioned, AMI Is indec,l recognized BY
the Act referrcl to. Whether the tax could be
icx,lly impcsel independent of the provi.o
found in tho Ilst section. necl no, now be dis
ccSsed.
The first in,crcs'rory re,,ies to the app,iea-
tion Of the receipts Of the tax
II will be perceived that Congress dccs not i'm
pose q tax upon thsse shares, or declare that any
shall be imposcd by any other authority. 80
far as Congress Is concerned. u Is ieit enureg
optional with the Stare TO tax or not. when
ts,sJ /, /. mot fsiernl tar Assessed by State
regulations, but IL Is purely and exclusively
State tax. .....
To sccur. certain results which Congress ~
csried As desirable and necessary. and TO Pre-
vent unjust Determinations, certain limitations
and restrictions were imposd upon the taxing
mower, II 10 elected 10 tsx thee shares. whether
thess limitations were leyitimstely imposeh, Is Q
DIGESTION not now prv-entei for discussion.
rAess limitations relate only 10 the Place and
rats Of assessment.
No limitation OF restriction 10 TO Be found IN
any part Of the Act. upsa the application Of the
p.ucecls Of the tax when Assessed and collected.
Congress ha. bern silent, and very properly n
lsnt, upon this subject Saeh an interference
with the powers Of u Stssss 70 regulate thar
ovn internal and domestic Affairs. cannot b q.
tabiishsd by vague infsrvnccs. II Congrcss had
intsnded 10 exercise % Questionable power. u
v,unh lave done Il In plain. ~nmiseakabls terms
s.vins nothing Or infsrsnsa Re-.
n he power TO tai rs.a upon The presiso