 | Oliver Lorenzo Barbour, New York (State). Supreme Court - 1868 - 724 páginas
...decided that state taxation on government stock was The People v. Gardiner. illegal because it was a tax on the contract, a tax on the power to borrow money on the credit of the United States. (See 2 Black, 631, et seq.) These cases ought, on grounds of public policy, to... | |
 | Edward McPherson - 1869 - 144 páginas
...of the Government. It may be carried to an extent which shall arrest them entirely." And finally; "A tax on Government stock is thought by this court to...contract, a tax on the power to borrow money on the credit of the United States, and consequently repugnant to the Constitution." Nothing need be added to this,... | |
 | United States. Supreme Court - 1869 - 802 páginas
...of the government. It may be carried to an extent which shall arrest them entirely." And dually : "A tax on government stock is thought by this court to...contract, a tax on the power to borrow money on the credit of the United States, and consequently repugnant to the Constitution.*' Nothing need be added to this,... | |
 | United States. Supreme Court - 1870 - 800 páginas
...the government. It may be carried to an extent which shall arrest them entirely." And finally,: "A tax on government stock is thought by this court to...contract, a tax on the power to borrow money on the credit of the United States, and consequently repugnant to the Constitution." Nothing need be added to this,... | |
 | Edward McPherson - 1872
...the Government, it may be carried to an extent which shall arrest them entirely." And finally: " A tax on Government stock is thought by this court to be a tax on the contract, a tax on power to borrow money on the credit of the Jnited States, and consequently repugnant to ,he Constitution."... | |
 | William Adams Richardson - 1873 - 192 páginas
...for the same. 3. TAXATION OF UNITED STATES BONDS AND OTHER OBLIGATIONS. opinion of the court, says: "The tax on Government stock is thought by this court...contract, a tax on the power to borrow money on the credit of the United States, and consequently repugnant to the Constitution," and that principle is recognized... | |
 | William Adams Richardson - 1873 - 208 páginas
...savings banks although invest8tates U sTcurities. Laws expressly from taxopinion of the court, says: "The tax on Government stock is thought by this court...contract, a tax on the power to borrow money on the credit of the United States, and consequently repugnant to the Constitution," and that principle is recognized... | |
 | 1877 - 1004 páginas
...investments, whether the loan is taxed or untaxed. " The tax on government stock," said Judge Marshall, " is thought by this court to be a tax on the contract, a tax on the power to borrow money on the credit of the United States." In the same manner the burden of taxation must fall upon the borrower in the... | |
 | Orlando Bump - 1878 - 474 páginas
...Churchill, 33 NY 161 ; s. C. 43 Barb. 550. A State tax on stock issued by the Government for loans is a tax on the contract, a tax on the power to borrow money on the credit of the United States, and consequently is repugnant to the Constitution. Weston s.Charleston, 2 Pet.... | |
 | David Rorer - 1879 - 468 páginas
...The supreme court of the United States, MARSHALL, J., say, in delivering the opinion in that case: " The tax on government stock is thought, by this court,...contract, a tax on the power to borrow money on the credit of the United States, and consequently to be repugnant to the Constitution." 1 McCulloch «. Maryland,... | |
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The tax on Government stock is thought by this court to be a tax on the contract, a tax on the power to borrow money on the credit of the United States, and consequently to be repugnant to the Constitution. 
