Nature of the Case
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Facts
P filed a bill to enjoin D from investing funds in farm loan bonds issued by Federal Land Banks or Joint Stock Land Banks under authority of the Federal Farm Loan Act. P sought on the ground that these acts were beyond the constitutional power of Congress. The bill prays that the acts of Congress authorizing the creation of the banks, be adjudged and decreed to be unconstitutional, void and of no effect, and that the issuance of the Farm Loan Bonds, and the taxation exemption feature thereof, shall be adjudged and decreed to be invalid. D filed a motion to dismiss in the nature of a general demurrer, and the District Court entered a decree dismissing the bill. P appealed. No objection was made to federal jurisdiction.
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