Weston v. City Council of Charleston 2 Peters 449 (1829)
WESTON v. CITY COUNCIL OF CHARLESTON 2 Peters 449 (1829)
The Supreme Court, in an opinion by Chief Justice john marshall, held unconstitutional a city ordinance taxing interest-bearing stock of the United States, on the grounds that the tax burdened the enumerated power of the United States to borrow money on its credit. The principle of the opinion, that an instrumentality of the United States is immune from taxation by state and local governments, derived from mcculloch v. maryland (1819).
Leonard W. Levy
(see also: Intergovernmental Immunity.)