U.S. Supreme Court
People v. Commissioners, 104 U.S. 466 (1881)
People v. Commissioners
104 U.S. 466
1. Quaere, are the statutes of a state in violation of the Constitution of the United States if they subject to taxation the capital of her citizens,\ although, on the day to which the assessment of it relates, it is invested in products on shipboard in the course of exportation to foreign countries, or in transit from one state to another for purposes of exportation.
2. If on that day it consisted of money, subsequent assessments including it cannot be set aside on the ground that when they were made, it was employed in the purchase of products for exportation.
The facts are stated in the opinion of the Court.