The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-01-06
In the year 1858 the Direct Tax was reduce
from % cts. to Is cts. on the 500, and in 1856
was still further reduced cts. on the 500.

"THE FUNDS"
Report of the Free Scoool Fund and the Sink
ing F~nd will be seen by referen ce to Statement Z.
On the Both of September 1858, there remained
in the Treasury to the credit of the Free School
Fund the of S23, ,6G7.7S, and there was receiv-
ed during the fiscal year for the use of the same
from the 20 cts. Bank tax, S24 Gil 40; from divi-
dends of Bank stock, standing to the credit of the
Treasurer, Sll,055.4O; from State per cent.
stock, $780, l6; from surplus revenue S34, ,069. sc;
from the investment for the use of Common Schools,
made under the Act of 1858, chap. 295, So 4l354,
amounting to S80,679.95 and with the balance,
making an aggregate of Sl04, SAT ,73; and the dis
bursements for the same period were $780, 1885;
leaving in the Treasury on the 30th of September
last, to the credit of the Fund, the sum Of $24,
427.s7.
1t is much to be regretted that Mary land has no
thorough satisfactory system of Common Schools.
Eminent in many respects, her financial faith
questioned her credit established upon an impreg-
nable basis, yet, in this regard, she is greatly
excelled by many of her sister States Surely it is
not necessary at this day to discuss the invaluable
blessing of well-regulated Primary School-he
must have lived to little purpose who fails to ap-
preciate it-and he must be dead to the noblest
feelings of his kind who would not lend his earnest
endeavors to perfect its usefulness
An education Of the right sort units for no station
in ife and its beneficial effects written in let
ters oflight everywhere around US. All acknOwl-
edge the truth of this; and the State is without
proper system, not because the people opposed
to Free Schools, the contrary the popular voice
is unmistakably for them; but, because the repre-
sentatives of the people have been unwilling to cast
aside individual opinion to meet on common ground,
which shall bring order out Of the existing chaos.
1t is true that some of the counties have we'll
organized schools; as good perhaps as it is posi-
Bile for them to have, acting separately and indie
pendenty, but they are not comparable to what
they would be under common system, fosteTed
and controlled by the State; system which be-
gins with the Primary School and terminates with
a wel-endowed University, capable of furnishing
all the requirements of the most perfect and finish
ed education. By the adoption of such a system,
thousands of dollars which annually 90 to build up
and enrich Institutions of learning beyond our lin
its, would be expended among the citizens of our
own State, and our youths would grow up Mary
landers by education and training we'll by
ties of birth and kindred. 1t would relieve
from the necessity of going abroad to procure
teachers, for we should find them at home, thor
oughly competent and reliable in every respect.
The means for the institution and organization of
such system are now, it is respectfully suggested,
within the control of your Honorable Body land it
be accomplished without imposing any additional
burden upon the people. Should the Direct Tax
be reduced in accordance with the recommendation
before made, what objection could be offered to
giving the benefit of that reduction to promote the
cause of Common Schools? The tax is so small
that no reasonable being could complain of it, and
vet this half mill in the dollar would probably yield
an annual School revenue of Sl50,000 In a few
years more the remaining half mill may be removed
and carried over to the School Fund.- thus doubling
the amount of the annuity from this source. A
fixed portion of the amount thus realized might be
distributed directly to the counties, and the surplus
permanently invested by the Treasurer in some
safe and profitable stock. When the condition of
the State shall be such [and we trust the time is
not far distant to justify her in dispensing with
other sources Of revenue still further additions may
be made to this excellent purpose, and thus an i'm
mense fund speedy accumulated which will prove
unfailing spring of blessings for ages to come.
The operations of the Sinking Fund also appear
in Statement E..
On the 30th of September, 1885, there remained
in the Treasury unnvested surplus cash to the
amount of Sl34, ,590.05, and there was received du-
ring the fiscal year, 1885, from various sources,
principally State Stock held by the Fund, S2l7,-