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Canal & Banking Company v. New Orleans, 99 U.S. 97 (1878)

Canal & Banking Company v. New Orleans

99 U.S. 97


In assessing the taxes for the City of New Orleans for the year 1870, a bank there located, with a nominal capital of $1,000,000, was assessed, in addition to its real estate, for the sum of $700,000, as its capital, or money at interest. It refused to pay the assessment, alleging that its capital not invested in real estate consisted of legal tender notes of the United States. Held that the bank, on whom was the burden of proof, having failed by its own statement, infra, p. 99 U. S. 98, or otherwise to make good its allegation, the assessment does not invade its rights under the Constitution or the laws of the United States.

The facts are stated in the opinion of the Court.

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