Bank of Redemption v. Boston

Citations

• 125 U.S. 60
• 8 S. Ct. 772
• 31 L. Ed. 689
• 1888 U.S. LEXIS 1914

Syllabus

<p>The question of exemption from taxation of deposits in savings banks, as affecting the rule for the state taxation of national bank shares, was very deliberately considered by this court in Mercantile Bank v. New York, 121 U. S. 138; and the conclusion reached in that case was reaffirmed in Davenport Bank v. Davenport Board of Equalization, 123 U. S. 83; and it is impossible to distinguish this case from those cases.</p> <p>The laws for the -taxation of national banks in Massachusetts, Mass. Pub. Stats, c. 13, §§ 8, 9, 10, do not deny to the banks as taxpayers the equal protection of the laws, in violation of the Fourteenth Amendment to the Constitution of the United States; and do not impose a disproportionate and unequal tax upon them in violation of the provisions of the constitution of that Stale. .</p> <p>It is the manifest intent of Rev. Stat. §-5219, to permit the State in which a national bank is located to tax all the shares in its capital stock without regard to ownership, subject only to the limitations prescribed in that section; .and in this case the law permits the taxation of the shares in the bank of the plaintiff in error .which are owned by other national banks, on the same footing with all other shares.</p>