Davis v. Smith

Grice, Justice.

Taxation is the rule, and exemption the exception. Athens City Water Works Co. v. Athens, 74 Ga. 413; Pacific Co. v. Johnson, 285 U. S. 480, 491. What is here sought to be taxed are accounts receivable, due by the government of the United States in the one instance, and Camden County in the other, and a certificate of indebtedness issued by the State Highway Board of Georgia bjr virtue of the act approved February 26, 1941 (Ga. L. 1941, p. 596). Section 5A of that act provides in express terms that, “No acknowledgment, evidence of debt, or chose in action issued by virtue of…