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1835.
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LAWS OF MARYLAND.
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SECTION I. Be it enacted by the General Assembly of
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CHAP. 143.
Faith pledged to
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Maryland, That the faith of the State be, and it is
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impose no addi-tional tax. &c.
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hereby pledged to impose no further or other tax
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or burthen upon any Bank incorporated since the
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year eighteen hundred and twenty-one, or which may
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he hereafter incorporated, than such as may be ex-
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pressed in their respective charters, and such as with-
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out violation of the pledge aforesaid, may be imposed
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on the Banks which complied with the provisions of
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the aforesaid act of eighteen hundred and twenty-one.
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Baltimore city restricted
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SEC. 2. And be it enacted, That the municipal au-
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thorities of the city of Baltimore shall not have power
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to impose or collect from any Bank incorporated after
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the passage of the said act, or which may be hereafter
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incorporated, or upon the stock held therein, any tax
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which they may not lawfully, and shall not equally
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impose upon and collect from the Banks, or upon the
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stock in the Banks which have complied as aforesaid,
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with the terms and conditions of the said act of Assem-
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bly.
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Explanatory of the
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SEC. 3. And be it enacted, That in the said act of
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act of 1821
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eighteen hundred and twenty-one, it was not, nor is it
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now the intention of the General Assembly of Mary-
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land to exempt from taxation and equitable contribu-
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tion to the common burthens for State purposes, the
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property, stock or dividends severally held in or deriv-
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ed from any Bank in this State, by any person or
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persons whatever, hut that the true intent and meaning
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of the pledge given by the said act of Assembly was to
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limit the taxation upon the franchises only of the
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Banks therein mentioned.
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