New York Court of Appeals December 19, 1876 (People Ex Rel. Gallatin National Bank v. Commissioners of Taxes & Assessments)

Earl, J.

The relators complain that the defendants have-assessed the shares in the bank at their actual value instead of their par value, and claim that this mode of assessment is erroneous.

The act of congress in reference to the organization of national banks was passed June 3, 1864.