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TRUSLER V. CROOKS, 269 U. S. 475 (1926)

U.S. Supreme Court

Trusler v. Crooks, 269 U.S. 475 (1926)

Trusler v. Crooks

No. 188

Argued November 17, 1925

Decided January 11, 1926

269 U.S. 475


Section 3 of the "Future Trading Act," purporting to impose a tax of 20 cents per bushel upon all privileges or options for contracts of purchase or sale of grain, known to the trade as "privileges," "bids," "offers," "puts and calls," "indemnities," or "ups and downs," is unconstitutional. Its purpose is not to raise revenue, but to inhibit, by a penalty, the transactions referred to, as part of the plan set up by the Act for regulating grain exchanges under guise of the federal taxing power, which was adjudged unconstitutional in Hill v. Wallace, 259 U. S. 44. P. 269 U. S. 479.

300 F. 996 reversed.

Error to a judgment of the District Court for the defendant in an action brought to recover money paid under protest as a stamp tax.

Page 269 U. S. 479

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