The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1843-03-18
THE DEBT OF MARYLAND.

1t will be seen by our Annapolis letter IN an
other column that the Senate or the evening of
Friday passed the important Bill from the House
of d. egates providing for the sale of the States
interest in all the works of rnal Improve
ment, the State receiving its own Bonds in pay
ment II is now law of the State, and is the
most important one which has passed at the pre-
sent session. As soon as we can obtain an authen-
tic copy of the Act we shall lay it before our
readers. In the meantime we proceed to give
its substance, as follows:
The State Treasurer 10 directed to advertise
both in this country and Europe until the first
day of July next, for proposals from the credi-
tors OF the State and others, from the purchase
of all the interest which the State holds in the
follow ing corporations, viz: In the Chesapeake
and Ohio Canal Company, the Baltimore and
Ohio II I'll Rod Company, and the Washington
BrafcL Rail Road Company, the Susqnehanna
and 1ile Water Canal Companies, and the Sus-
quehanna Rail Road Company.
The whole interest of the State in the Chesa-
peake and Ohio Canal Company is to be sold for
not less than five millions of dollars, payable in
State ! o ids bearing not less than five per cent.
interes.
The stock held by the State in the Baltimore
s. Ohio kaLo Company and Washington
Branch is to be sold for not less than four mil
lions two hundred thousand dollars, payable in
State Bonds bearing not less than five per cent
interest. The Rail Road Company is required
to pay perpetual annuity Of $4,000, in con-
slderation If which the Company is to BIZ releas-
cd from the tax OF one-ffth of the passage money
now payable to tine State upon the receipts of the
Washington branch; and the charter of the
Company Is thenceforth to be perpetual.
The whole interest OF the State in the Sus-
quehanna and Tide Water canal Companies is
a Inc FIR Of b11l L..
State Bonds bearing not less than five per cent
il te ct.
Inc whole interest of the State in the Sns-
quehanna Rail Road Company is to bs sold for
one million five hundred Thousand dollars, paya-
BILE in State Bonds bearing not less than five per
cent interest
The whole interest of the State in the Sus-
quehanna Rail Road Company is to be sold for
one million i've hundred thousand dollars, paya-
BILE in State Bonds bearing not less than five per
cent. interest.
An immense reduction in the debt of the State
VIII be effected provided this Act operates prac-
tlcally in the case Of each Internal Improvement
Company. The result will be as follows
The actual debt Of the State incurred
for ull purposes, is Sl5,2l6,1s4 81
Amount for miscel laneous objects 226, PAS 81
Actual debt for Internal Improvm'tl4,es ESQ $40 90
This debt will be reduced by the re-
turn Of stock from the following
companies, viz
Baltimore & Ohio Rail
road Company, S4,ooo,Oo0
Ches. & Ohio Canal Co. 100000
Tide Water Canal Co. 100000
Bali Susc. R. Il. Co., 100000
- ll,7oo ,oot
s,2s9,94t
From which DO !uct the Sinking Fund
of the State OF LIST Dec 1912 l,l7a,27t
Balance of State Debt 2,llO,664
Am ual interest thereon Sl-6 O0C
The State Debt will thus be reduced from
nearly htleen mill ons Of dollars to two millions
one hundred thousand dollars--the interest OF
which can be pad by tax VI seven cents on
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