Commercial Trust Co. v. Hudson County Board of Taxation

The opinion of the court was delivered by

Swayze, J.

Tlic only question raised is the- validity off chapter 90 of the laws of 1914, for the taxation of banking/ capital. The act is assailed as violating the provision of our '1 s.tate constitution requiring property to be assessed under general laws by uniform rules according to its true value, and as violating the act of congress which forbids the taxation of shares of stock of national banks at a greater rate than is assessed on other moneyed capital.-

The constitutionality of the act is assailed upon the grounds:

*426(1) That banking capital does…