National Republican., 1877-04-18
TAXING NATIONAL RANKS.
r8Er ARR ErEmr,rEB' kRoW rAT-
ING rHE CIrT LrCExEE rAE


ING rHE CIrT LrgEykE rAE
A re~f o..e On fhe Crsn,an.i cuu7-ln~n-
grc-s h.s Frvxsa-a fr fh-ar r.r-fa-a-
and NO other rsrzn rnn he Aartstra-
The case of the District Of Colum,dR nrafnss
the Citintns' National hank, Han- J. n J.
Creswell president, came up IN thr Criminal
Court, Justice MncArfher presidinr, FesirranT
morning on nppcal- TINS o. o ics rAss End
grows out Of the alleged riria OF lhs Dtst-aa
government 10 impnst q hncnsr tax On all
national hanks doing business IN tins ptstracn
under an acr OF Conrrcss crnatinr ths Dfsfraa
government The CLAUSE ON wlich 1hr rrp-
ernment rcst thcir rigid b M sallp~ss a ThG
the Legislative power Of the D.Etrirt shall 81
within said District onssisncnt win Lhr Cup-
stituiion Of the Unfied States md TIM rsrprs-
siops of this act, tufjcct, nevcrea,slsxS- NJ an
the restrictions and Limitations tmpssaa npm
States by The tenth scciia. Of fh- ffrsn Hsrlclr
Of the Constitution Of the Uniind Ssz1rs- Rn
all acts of the Legislative Assembly shall n
all times he subject 10 rerrnl On mn1tfrssarn
by the Congress Of the Uniled s4Aark- zne
nothing herein shall he canstrned N asyrau
Congress Of the power Of lngislatiun rr-u sad
District In rs ample mamrr ss d Ihis lnr had
not heen enscted-- whm
rHr INSTRUCT LnsIsLKrrrr
ornasized, they pnsscd, Aurusa =, ISL, AN
aci imposing lirense On trades, hnzincss nnt
professions prHcticed and carrsrd On On zhr
District Of Columbia " IN Winch wnk nn1-
merated the following clause a4Ranks nnt
bankers shall pay annually 30 crutx On nHrh
tl 900 Of capital invested Every fnruruzi.e
or other bank, and every person having nplArs
OF business where crcdiis arr nrcnee fr ahr
deposit or collection of Dunrr on rur1znrr
subject 70 be paia o. rrmirare urnn nzan.
check or order, on wbrre muner b neranr.c
or loncd ON stocks, hunds, huliiun- hIlls NJ cr-
change, or promissar npaek, on whrrr stnrkS-
bonds, bullion, hills of exrhnnrr n runmiz<sy
notes are received fur discount on fur zAle,
shall be regarded As q fmnk on hznkm--
Mr.. ". W Birney aEFszrsd fr the D,<uir-
and maintained the riCht of TIM Distrtrs- under
the authority puicd, 10 tmpuse fhr sHk- .ni
that The national hanks should he nnml<rll,1
70 acknow hedge thaf pcwcr and rny n TAX zhnz
was leEftimateiy and rrurcrly lrvinaS tflas
private banking institutions nf the DiEtrfS
had accepted the r1Eht of fhe Distrira csVsrs-
mem TO levy md collect the TAX, md E'aia G.
without mu1mur-
Hon. J. A J. Crrs~el md Hon Mnnrrun-
cry Blair represented TIM hunk
rnE AReuMrxr WAS rrr roE-R-
and numerous sufhur1ties rited 10 snstatn n,
that n +.fhe Distzir7 Legislature had TIM nm
tborfty 10 levy o tax of fftr csuis On e,rR
thousand dollars invested, thry had I'm sHms
power 10 impose INV dollars ON TIM shuuzznt
dollars IL was druied ihxt TIM Lrrislzaur
had any power 10 enArt . lnw imposing .
license on national hanks I'm orr4nir Hrr
gave them the night 10 mAke an nnndiul rsV1-
lations for the District nonsisient win zh-
Constitution md the laws, hus IN zhz arz
they wire moi anywhere rraIltrd puSu N an.
pose n Hcense ON nnfiunal hanks. Taeir arlanl
In thai respect was null md vni1- Hnt zhE
Legislature having become aefunr fy nm NJ
tiun Of higher power, ihrre alnur was v-sasa
Al. a H.. ~
tenpts at collecting these TAXES, tmlnuPsrl,
levied, wree Illegal, and uug4r 10 he resislpG
His honor made fhe following
ppc1slox x uur CASH
"Tbe statute creating NntianAl hanks rlrE-
yides for the mode od taxing them IN lhs man.
| ner In which thry are 10 he tkxee via nms56-
! ernble minutenesk- ThKi 80 fr n I'm zzz
payable 70 TIM Government uf lhr Unlis1
| States is concerned tbry are N ply hAls uI
one pcr cent upon their circulAtian, an1 qua--
ter of one per rert- upon an daposiik- -nss
appears 20 he the Hmm prrzrrihr1 tg I'm
statute 90 far m imposing . INK fr I'm Gun-N
Of Congress also provides TN firfis nf 1En-
tim 20 be imposed by TIM StAfnx upon 1hnR
institutions; that the shsrs of th1~e hanlz.
may he TAXED % othtr IersrnAl Tnu4sury. nsf
| that the real estate hclmr1nc u ihe hana,s
may also be taxrd IN rummm win I'm r,a
I =
| Of taxstion whirh thu stahus mns fmpsrs
Congress hsving thus prpviae1 the mndf ant
| extent Of tAxAtim, thu hanks cAn he 1xxsk n
no other mAnncr, and every ofhcr meihne n
taxaticn is excluded, @ Cmrres ssens u
have provided fn the whnle msrlcr- Whrs
| ever the States have unaer1Akrn N impsss
taKes upon the National hanks In anr nfhr
manner the ariemTa
/ Has RErx DDcHlAHrp rnD
by the Supreme Oour1 of fht Unfrrd SiAl-<
| prefer 10 place my decision IN tins nazr lpal
| these provisions Of thu ftAfufe- il has Nrsi
urged thst the nztiuual hunks, n hsral zc,su
Of the Government Cd fhe Uuii>e Sun>z
were eremrt from the npcrxfannk nj . hnnns
tax The license lsw does mon fnrinar !
express terms the uzfiunsl hzntlk, nm 1x
quircs bsnks and hankers 10 lkke nuz
license aud fix TIM amount NJ ffTr reun u
every u 600 Of capital stnck fuvcsina- wh=l
q State has attempted 70 TAX TIM <inrk Of
national hank, instead Of fik khar-z. IN
Supreme Court Of tht unitn1 SfAhrs hzk de
clsred the proceedings 1ersl, Hne 1aIis liurzssE
4 which is In substance q TAX Proposes Tim sam
thing, and is therefore vnid- I'm natiaua
banks have furnished ne the pnly mnnrE rhA
We have had In rirrnlHiinn sipct 1SaS and IN
General Government 10 intrusino win fhei
care and supeuvisiun- In rHse Of irsniEeusE
takes possession Of the assets and yras-cis II
creditors Through the medium uT thr fanfs
II furnishes tho only currency wt huvr hA
since guld and silver ceased n he mmry- i
this eKtcDt they perform a hirh fiscal fussstiu
for the Government This pnpht npt- fss
ever, 10 exempt them from lEKAtim IN s0u
foim- Congress hns proyidrd thal fGH- al
| think no othe- can ne sdolsled- Tnf hrzls
law Of this District should Iherrz1r nn n