Joseph McKenna

“ They have been careful to declare the immunity of interstate commerce from state taxation, but as careful to declare the power of a state to tax values within its borders though they may get enhancement from the exercise of rights outside of those borders. How intimate and direct such rights must be cannot be pronounced in formula. A state may not burden or interfere with interstate commerce or tax property outside of its borders, yet, on the other hand, it has a definite sphere of government which must not be curtailed. ”

“ The argument is that they have such effect because they are 'based on the value of property outside of California and on interstate and foreign commerce engaged in, so that the amount of' them 'grows in proportion to the growth of such property and commerce.'
The basis of the contention is not a new one in this court. It is not always easy to answer and has involved difference of opinion. Any property of a corporation engaged in interstate commerce may be said to take on value from such commerce and a tax on the property be increased as the commerce increases. ”

“ The exertion of the power of a state in taxation has been considered in many cases. A review of them we do not think is necessary. Their pertinence and value are not insistent. The present case is more single. ”