The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1872-01-20

/ the gain Of al least one and half millions Of
dollars. the real amount Of debt for which the
State may be said to have no reliable Offset
would be 81, $50, l67.7S. The amount necessa-
~ 10 meet the interest on this sum, and grad
ually To diminish the principal, can Do raised
without embarrassing the people OF the State,
or any particular branch Of industry, provided
the taxation can be borne by all the property,
wealth and capital Of the State, In proportion
to its true value and prodactveness. II the
| Legislature shall succeed IN accomplishing
/ this purpose by wise enaetments, the burdens
which this amount OF debt will entail on the
! aggregate of wealth Ia the State viii scarcely
be sensible to the people. The fact that so
large portion Of the productive wealth aud
capital Of the State has hitherto escaped its
due share of the burdens Of taxation is sab
ject to which y0ur attention Is especially iuvi-
ted. Nothing IN my Judgment can have a
more paralyEing effect upon the value fprop-
ertv, aud especially real estate, than the set
| tied canvictiun that all the burdens Of taxation
must be borne BY it, while capital invested in
more profitable enterprises Is allowed to es-
cape taxation altogether"
STATE LEvr-scHooL rAx-aousrIEs.
The State levy for all purposes for the year
! ISL was Ss02, 2sS.A. The receipts for school
purposes were Sil0, o65 So The amount dis
bursed Tor bounties under the several acts of
the Legislature was 81, l50. While discuss-
ing the bounties the Comptroller indulges in q
paragraph that is not entirely JfHoRciai In its
tone. He SAYS;
" The claims paid during the lscal year and
since its close comprise nearly all that are ca
pable Of proof, and congratulate the Legis-
lature that this item Of expenditure, sugges-
tive OF so many unpleasant "reminiscences, is
soon to cease to appear Ia the accounts Of the
Department"
PENSIONS
The amount expended during the year in
the payment Of pensions was sol, lsO-a de.
crease from the payment for 1870 of So, 4sO.
REcEIPrs IRON SPECIFIC SOURCES
The receipts from Clerks Of Courts amount
ed to S4S4, so. an increase over those Of
last year of S2,1se.02; the receipts of Regis
tiers OF Wills amount to SIS, I6S, which is less
than the sum received from the same source
last year BY SIG, lOG.90. There is falling oil
in the tax on collateral inheritance, aud c0m-
missions Of executors aud administrators in
Baltimore city, the returns Of which show
decrease in these items Of $50, 1857. With
very few exceptions these officers have made
their returns promptly.
The amount paid intn the treasury for Direct
Bounty, Public School, southern Relief, and
Deaf and Dunb ASYLUM taxes during the year
was Sl3I, o40,92, exhibiting an increase over
last year, notwithstanding the large dininu-
ton ia the basis Of taxation, of S43,14I.75.
RECEIPTS FRoa coRroaArioSs, ETC.
The amount received from dividends and in.
terest account was S34s, 6s6gl. The Chesa-
peake and Delaware Canal Company has paid
six per cent. on the stock standing ia the name
OF the State, which BY the distribution Of the
surplus income Of the Company has been in
creased to SSl, 80 The Northern Central
Railway Company has punctualiy paid the an
nuity due under the agreement aud compro-
mise made By the State With said Company.
The Susquehanna and Tide Water Canals are
in arrears Tor the interest due July lst ISL
The Baltimore and Ohio Railroad Company
has promptly paid the dividends IN the Main
Stem aEd Wash!astra hr=aeh s9s,5lg On th=
former, and s6S,00O on the latIer) aud the in.
terest ON the sterling aud converted bonds,
amounting to O0,G06.il.
STARE roBAccn WAREHOUSES.
The gross receipts from this source were
SllO,43j IS, an Increase over those uf the fiscal
year OF 1870 Of SO 692.g3. The disbut sctaents
during the same period, including Sll $50 sal.
aries oi the In peetirs, amounted tO the sum
OF S9I ,2s5.9a, leaving the net revenus froui
this source to be SIS, l47.2l. This Is a eOnsii-
cradle advance over the last fiscal year, which
aIter the payment Of salaries Of the Inspectors,
exhibited a deficit Of 50, 619.sg.
FoREisN INSURANCE COMPANIES
The receipts during the iiscal year from H.
eenses TO foreign Insurance Com auies a
mounted 10 S33,4l5.6s, which is slightly less
than the receipts from the same source during
the fiscal year 1870.
The Comptroller says: " The immense a
mount OF money carried out OF this state, by
the business OF foreign Insurance Companies,
constitutes heavy drain upon the capital Of
the state, and the interest taken by our citi-
zens IN tbs subject Is getting TO be 50 general
ami 80 large aud important, that legislation
providing Tor the strictest scrutiny lut0 the
souadnesa OF the Companies, and the most
careful supervision OF The conduct Of tie busi-
ness, is absolutely necessary for the protection
Of the people. All the certificates, documents
and Statements Necessary 10 proper appreci.
alton Of the condition OF every foreign lnsu-
rance Company, together WITH a copy Of their
charter, and appointment OF agents. should be
filed and recorded In this Department. and the
Ming and recording III any papers relative To
said Companies elsewhere ia the State Is mere
ly WORK OF supererUg alton, aud OF no real use
in attaining the object 10 be arrived at. A
proper performance OF these duties will in
Yolye the necessity Of additional clerk To
attend strictly aud entirely To thi. branch of
the business OF the Office but il authority il,
given to the Comptroller to establish proper
Ices Tor the performances Of these duties as Is
done IN other States, it will be no additional
burden to the Treasury, but will probably, al.
ter payment Of expenses, bccomi a source Of
revenue. At the same time the services of
this additional clerk to attend carefully TO N.
details and workings Of the system of insu.
rance, By both foreign and domestic cDmpa-
MES, aud to look after aad prevent evasiuns of
the laws, would add immensely to the revenue
from THIS source, and, what is more imp ortaHt
be reliable safeguard u the insured
1t should be the object Of the Legislature as
much as possible to encourage tue formation
OF domestic companies, 50 that capital OF this
State may be adyantagcously employed Ia Tins
very lucrative business, aud the drain on the
resources Of the people consequent on the ab
straction of So large sums Of money fron her
limits, prevented.
sAIiUSAL BASKs,
The large amount In arrears BY these in Ii.
tntions to the State for taxes isn subieet which
peremptorily demands the attention Of The
Legislature.
The act of 1867, chapter 94l, section 2, en-.
acts that all Judgments, not and other Sc
euriiies belonging To any bank or other incur-
porated Institutions, the capital stock shares
whereof are subject to assessment and taxa.
! tion," shall be exempted &c. This and simi
Ia Rrta IL.