Hibernia Savings & Loan Society v. San Francisco
Supreme Court of the United States
ERROR TO THE SUPREME COURT OF THE STATE OF CALIFORNIA. This was an action by the plaintiff in error, begun in the state Superior Court to recover certain taxes paid under protest upon two checks or orders for $120,000' and $1,875, respectively, signed by the Treasurer of the United States and addressed to the Treasurer or an Assistant Treasurer of the United States, for interest accrued upon certain registered bonds of the United States, owned by the plaintiff.
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ERROR TO THE SUPREME COURT OF THE STATE OF CALIFORNIA. This was an action by the plaintiff in error, begun in the state Superior Court to recover certain taxes paid under protest upon two checks or orders for $120,000' and $1,875, respectively, signed by the Treasurer of the United States and addressed to the Treasurer or an Assistant Treasurer of the United States, for interest accrued upon certain registered bonds of the United States, owned by the plaintiff. These checks were issued in compliance with Rev. Stat. § 3698, which requires that “ the Secretary of the Treasury shall cause to be…
1Opinion of the CourtJustice Brown
This case-involves the question whether the two'checks or orders upon which the tax was imposed are exempt from state taxation under Rev. Stat. §3701, declaring that'“all stocks, bonds, treasury notes, and other obligations of the -United States, shall be exempt from taxation by or under state or municipal or local authority.” The basis of this exemption is the. fact that a tax upon the obligations of the'United States .is virtually a tax upon the credit of the Government, and upon its power to raise money for the purpose of carrying on its civil and military operations. The efficiency of the…
2Cases cited9 opinions
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- Van Brocklin v. TennesseeSupreme Court of the United States · 1886
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- New York Ex Rel. Bank of Commerce v. Commissioners of TaxesSupreme Court of the United States · 1863
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