THEODORE R. McKELDIN, GOVERNOR                  1283

purposes. This bill involves no substantial loss of revenue to the
State and might well merit consideration but for the very substantial
tax loss which can indirectly ensue from its approval.

We obtain substantial revenue from a shares tax on national banks
imposed pursuant to consent of the United States Congress. The
Attorney General in this connection advises as follows:

"In giving its consent, Congress has specifically provided that
if a State elects to impose a tax on the shares of a national bank,
... the tax imposed shall not be at a greater rate than is assessed
upon other moneyed capital in the hands of individual citizens of
such State coming into competition with the business of national
banks. We are advised that many national banks in the State
make loans to farmers for agricultural purposes, and hence a
domestic finance corporation making similar loans would seem
to be in competition with the national banks. Under the language
employed by Congress, it may well be that if the exemption con-
tained in Senate Bill No. 269 meets with your approval and hence
becomes effective, the State will forfeit its right to tax the shares
of national banks, at least to the extent that such national banks
are in the field of making loans for agricultural purposes."

Obviously, the serious possibility of loss of revenue from the shares
tax on national banks as indicated by the Attorney General, compels
me to withhold my approval from this bill.

Respectfully,
(s) THEODORE R. MCKELDIN,

Governor
TRMcKrmg

Senate Bill No. 275—Removed Causes

AN ACT to repeal Section 111 of Article 75 of the Annotated Code
of Maryland (1951 Edition), title "Pleading, Practice and Process
at Law", sub-title "Removal of Causes", and to repeal and re-enact,
with amendments, Sections 112, 117, 118 and 119 of said Article
and sub-title, to provide for the transmission of the original papers
in removed causes, rather than transcripts thereof.

May 9, 1955

Honorable Louis L. Goldstein
President of the Senate
State House
Annapolis, Maryland

Dear Mr. President:

The Honorable John B. Gray, Jr., Chairman of the Standing Com-
mittee on Rules of the Court of Appeals of Maryland, has very kindly
written me in connection with Senate Bill 275, relating to transmission
of original papers, instead of reproductions, in removed causes.
Judge Gray advises that, effective April 1, 1955, the Court of Appeals
has adopted a rule covering the general subject matter of the bill.
Since the phraseology of the Rule of Court and of the Act are not