12 U.S.C. § 541
Tax on circulating notes generally
In lieu of all existing taxes, every association shall pay to the Treasurer of the United States, in the months of January and July, a duty of one-half of 1 per centum each half year upon the average amount of its notes in circulation.
Notes of Decisions
Cited in 1
case, 1989–1989 · leading case: United States v. Simpson, 885 F.2d 36 (3d Cir. 1989).
United States v. Simpson, 885 F.2d 36 (3d Cir. 1989). “The Court, writing through Justice Harlan, rejected the Origination Clause claim: It is sufficient in the present case to say that an act of Congress providing a national currency secured by a pledge of bonds of the United States, and which, in furtherance of that object, and…”
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