Morrison Waite

“ The Nevada Bank was incorporated and organized under the laws of one of the States of the Union, and it had its principal place of business within the United States. It was, therefore, subject to the sovereign power of the United States, and a proper object of taxation. The investments abroad are still the property of the bank and part of its capital. ”

“ Hotchkiss (100 U.S. 491) , that a State might tax her resident citizens for debts held by them against non-residents, and secured by mortgage on property in another State. That seems to us conclusive of this case. ”