...effect of the provision of the Act of Congress of the 25th February, 1862, which says: "All stocks, bonds, and other securities of the United States,...exempt from taxation by or under State authority." Two questions arise in regard to this enactment — I. Whether if constitutional such a provision would...

...effect of the provision of the Act of Congress of the 25th February, 1862, which says : " All stocks, bonds, and other securities of the United States,...exempt from taxation by or under State authority." Two questions arise in regard to this enactment — I. Whether if constitutional such a provision would...

...floating debt of the United States." The second section of that act concludes thus : " all stocks, bonds and other securities of the United States, held...associations, within the United States, shall be exempt from The People r. The Commissioners of Taxes. taxation by or under state authority." (Stat. at Large, 37th...

..."and all stocke, Dunda, and utber securities of the Uuited State-s, held by individuals, corporatiuns, or associations within the United States, shall be...exempt from taxation by or under State authority." $300,000 are appropriated for expenses. The Secretary of the Treasury, or any Assistant Treasurer or...

...bonde, and other aecnritles of the United State«, held by individuals, corporation«, ur association« within the United States, shall be exempt from taxation by or under State authority." $JUO,t>W are appropriated tor expenses. The SecruUry of the Treasury, or any Assistant Treasurer or...

...the 25th of February, 1862, congress passed an act, one section of which declared, that "all stocks, bonds and other securities of the United States, held by individuals, corporations, or associations, shall be exempt from taxation by or under state authority." On the 3d of March, 1863, congress passed...

...for •other purposes." Sec. 1. provides that " all bonds, treasury-notes, and other obligations of the United States, shall be exempt from taxation by or under state or municipal authority." The Act approved January 28, 1865, entitled, " An Act to amend an Act entitled,...

...accumution of interest upon it, whether paid or unpaid. The law of Congress enacts that "all stocks, bonds and other securities of the United States, held by individuals, corporations or associations, shall be exempt from taxation by or under .State authority." The bonds, or, in other words, the money...

...1864, which contains the following provision : " And all bonds, treasury notes and other obligations of the United States shall be exempt from taxation by or under State or municipal authority." (§ 1.) These provisions are declared by the Constitution of the United States...

...or municipal authority." All these acts contain, in some form, the provision that the securities of the United States shall be exempt from taxation by or under state or municipal authority, except the Act of February 25, 1862, which does not contain the word " municipal."...