Life And Public Services of Gen Andrew Jackson Seventh President of the Un

Cover Life And Public Services of Gen Andrew Jackson Seventh President of the Un
Life And Public Services of Gen Andrew Jackson Seventh President of the Un
John S John Stilwell Jenkins
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The state banks ar^*. A quahfied restoration of the right which has beep VETO OF THE BANK BILL 257 taken away by the laws against banking-, guarded by such provisions and limitations as, in the opinion of the state legislatures, the public interest requires. These corpo- rations, unless there be an exemption in their charter, are, like private bankers and banking companies, subject to state taxation. The manner in which these taxes shall be laid, depends wholly on legislative discretion. It may... e upon the bank, upon the stock, upon the profits, or in any other mode which the sovereign power shall will.
Upon the formation of the Constitution, the states guarded their taxing power with peculiar jealousy. They sur- rendered it only as it regards imports and exports. In relation to every other subject within their jurisdiction, whether persons, property, business, or professions, it was secured in as ample a manner as it was before possessed. All persons, though United States' officers, are liable to a poll tax by the states within which they reside.


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