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" The exercise of such taxing power by the states might be so used as to hamper and destroy the exercise of authority conferred by Congress, and this justifies the exemption. If the states can tax these bonds, they may destroy the means provided for obtaining... "
The Home Owners' Loan Corporation: Opinion of Hon. Homer S. Cummings ... - Page 6
de United States. Department of Justice, United States. Attorney-General - 1933 - 6 pages
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Cases Decided in the United States Court of Claims, Volume 107

United States. Court of Claims - 1947
...McCulloch v. Maryland, supra, and Owensboro National Bank v. Owensboro, supra, the court said, page 213 : The exercise of such taxing power by the States might...necessary funds for the future operation of the banks. With the wisdom and policy of this legislation we have nothing to do. Ours is only the function of...
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The Federal Farm-loan System in Operation

Arne Clarence Wiprud - 1921 - 280 pages
...the holder is, in the last analysis, an imposition upon the right of a municipality to issue them. The exercise of such taxing power by the States might...necessary funds for the future operation of the banks. With the wisdom and policy of this legislation we have nothing to do. Ours is only the function of...
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Cases Argued and Adjudged in the Supreme Court of the United States, Volume 255

United States. Supreme Court - 1921
...upon the right of a municipality to issue them. The exercise of such taxing power by the States mignt be so used as to hamper and destroy the exercise of...necessary funds for the future operation of the banks. With the wisdom and policy of this legislation we have nothing to do. Ours is only the function of...
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United States Reports: Cases Adjudged in the Supreme Court, Volume 255

United States. Supreme Court - 1921
...upon the right of a municipality to issue them. The exercise of such taxing power by the States mignt be so used as to hamper and destroy the exercise of...necessary funds for the future operation of the banks. With the wisdom and policy of this legislation we have nothing to do. Ours is only the function of...
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Supreme Court Reporter, Volume 41

United States. Supreme Court - 1922
...the holder is, In the last analysis, an Imposition upon the right of a municipality to issue them. The exercise of such taxing power by the states might...necessary funds for the future operation of the banks. With the wisdom and policy of this legislation we have nothing to do. Ours is only the function of...
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United States Supreme Court Reports, Volume 65 ;Volumes 254 à 256

United States. Supreme Court - 1922
...the holder is, in the last analysis, an imposition upon the right of a municipality to issue them. The exercise of such taxing power by the states might...'destroy the means provided for obtaining the necessary fundsfor the future operation of the banks. With the wisdom and policy of this legislation we have...
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Farm Mortgage Financing

Ivan Wright - 1923 - 343 pages
...the holder is, in the last analysis, an imposition upon the right of a municipality to issue them. The exercise of such taxing power by the States might...necessary funds for the future operation of the banks. With the wisdom and policy of this legislation we have nothing to do. Ours is only the function of...
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Consolidation of Railway Properties: Hearings...on S. 1175...Jan. 9-12, 1928

United States U.S. Congress. Senate. Committee on interstate commerce - 1928 - 231 pages
...exempt from State taxes, the court said (Smith v. Kansas City Title & Trust Co., 255 US 180, 213): "The exercise of such taxing power by the States might be so used as to hamper and destro}' the exercise of authority conferred by Congress, and this justifies the exemption. If the...
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United States Supreme Court Reports, Volume 65 ;Volumes 254 à 256

United States. Supreme Court - 1922
...the holder is, in the last analysis, an imposition upon the right of a municipality to issue them. The exercise of such taxing power by the states might...this justifies the exemption. If the states can tax ihese bonds, they may destroy the means provided for obtaining the necessary funds for the future operation...
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The American economic review, Volume 11

1921
...Marshall's famous "power to "destroy" doctrine7 as laid down in McCuttoch v. Mart/land and held that: The exercise of such taxing power by the states might...necessary funds for the future operation of the banks. And the court added significantly, "With the wisdom and policy of this legislation we have nothing...
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