The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1875-09-24


an ana IN io4..... .:........... 227G,9O6 So
VI which there was Invested, under
The act of1SG4, chapter 80, and
act of 1872, chapter Ais. ...... l10,S32 90
For Deaf and Dumb Asylum. ...... 125, 900 90
For southern Maryland railway. Ill 900 90
~, mall. ..................... 34G S32 90
mus reducing the expenses for 1874
-, To-. ....................Sl,9 32, 014 So
The State debt on the 30th of Sep
tcmber, 1869, was. .l2, Coz, 1888 9G
The same stood on the 30th of Sep
TENDER, 1873. 10, TAI ,215 60
Making reduction in four years of 81 ,95l 1928 So
The State debt has since increased, py the
payment for railways in Charles, Calvert and
ST. Marys counties, under the act of 1868, chap
Ter 454, by the sum of 1852, $50 o.
1t stood on the 30th Septembr, 1874, (the last
report OF the Comptroller) at Sl1 ,095, Ol9 40
Less interest-paylng Investments, 3,4G9, 1888 26
Leaving balance on which inter-
est Is payable of. .............S sc, G25, 236 23
Against this are assets, not productive, but
good to pay this debt eventually, amounting to
S22,l22, AL G3. To this gratifying statement
may be added the fact that during the present
fiscal year ending September 30th, 1875, all the
bonds issued for the building of the State Norm
al ocnool, (now IN course OF erection on Lafay-
cite Square, in Baltimore city, amounting to
SlOoOUO, and those issued for The erection OF the
State House Of Correction $3.50 GOO, } have been
taken for the sinking fund by the Comptroller
and Treasurer SO that no additional burden will
be put upon the people of the State by the es-
lapllshment OF those two important institutions.
In addition to these items, purchases have
been made of the bonds of the State, heretofore
outstanding, of about 100000, for the sinking
tuna, and the sum of $500, 900 has been set aside
by the treasury officers for the same purpose,
making total of $780, 900, during tie single yeal
n GnT tp, ..l..z.
much OF the public debt of the State, after leay-
Ing an amount in the treasury sufficient for the
ordinary expenses Of the government The
large increase of receipts consequent on the
passage OF the revenue measures Of 1874 and
the recovery of q part of the amount due to the
state from the Baltimore and Ohio Railway
Company, have produced these results
Inc management of the financial operations
OF the State under the Democratic. conservative
party is rreproachable, and challenging contra
diction on this point VIC invite investigation
from all quarters into the affairs of the treasury
Important steps have been taken to insure the
equalization oftaxation, which has heretofore
been so much needed in the State. BY the reye-
nue. measures OF the last session, of which SO
much Ignorance is displayed, all church prop
erty other than the church buildings themselves
and tho parsonages, are subject to taxation as
other property In fact all property in this
State which has been or can be legitimately
reached by taxation will be made to contribute
to the support of the State and municipal poy-
eminent
With the results of the revenue laws of the
last session the public may well be satisfied, in
spite of the earnings OF the misinformed; and
the increase of The revenue thus produced will
afford an opportunity to the Legislature at its
next session to reduce its present taxes. The
citizens of the State will remember that the
Democratic Legislature of 1872 repealed the di-
rect tax and that since that time no direct State
tar has been imposed on the people for the support
Of tie State government
No State taxess nc now levied except for the
support of our admirable public school system
and the payment of the interest on the public
debt. The revenue from licenses to foreign
insurance companies has been more than doubled
in the past few years. The amount received
from traders and retailers and other licenses,
and the income of the available resources of the
State, are now not only sufficient to the support
of the State government, but contribute in part
to the payment Of the interest of the public
debt.
No truthful man who chooses to inform him
self can hesitate to say that the condition of the
State treasury is us healthful as it is possible
for it TO be.
The same feeling of satisfaction can be in.
dulgcd in after brief examination of the affair
of the Chesapeake and Ohio Canal Company
for whose management the Democratic party is
now held responsible. That it may be most
plainly understood, u statement of its receipts
and expenditures from 1865 to 1874, inclusive,
exhibits it under the various administrations by
which it has been controlled during that pc
Rod:
1865, GG the gross revenue was.... $726, 5Sl.49
Gross eXpcnditures.... OIL, 1864
Net revenue. SIS, 4.5S
1867, U.s.. Gross revenuc....... 67?,59S'S2
Gross expenditures. 52l, 924.56
Net revenuc........... s15O,G74.26
1Sd9..',.Gross levenue......... SSS, G94. 10
Expenditures......... 263, 17O.94
Net revenue. ......... Sl25, 523. 16
1870 VI. Gross revenue. ....... SS52, 903. 55
Expenditures. AGO, 756. Is
Net rcvenuc........... $780,, 147.4O
1872 '73, IA. Gross revenue. .....Sl, sos, 36
expenditures. T5o,66I.90
Net revenue. ......... 1914, 67s 46
The showing is highly creditable, and proves,
beyond cayil that under Democratic manage
ment it has advanced toward becoming pay
ing Investment for the State.
Further the inquirer after truth will find how
this net revenue has been expended, and how
those debts of the Canal Company having pri-
GRITTY over the mortgages of the State have been
gradually retired.
The repair bonds amounted to- .S20O, 10000
Preferred construction bonds. ..... ,699, 500 90
Making in all. ..................s 81 800 10000
On which the accruing annual in.
terest ls....... ................... 1l39I0O
Making Ill ten years the large sum
ot..... ACKNOWLEDGEMENTS 81 l30 900
The revenue OF the company over
the pay of officers and the en-
penses cooperating and maintain.
ing the canal for the years from
1855 to 1864, inclusive, was.... 25,556O3
Showing deficit during that period
of; ::.:................ lila, 43o97
While In the past ten years, from
1865 to 1874, both inclusive, the
revenue from the canal, after pay
ing salaries and operating eX-
penses, amounted to. sos, PAT sc
Which amount has been applied 10 the pay
ment Of the debts of the company.
1t will be seen also that ofthis large sum of
81, sos, SO, SO realized in ten years, nearly
one-half of it, that is S144 67S. sc, have been
earned within the last three years.
Into the affairs of this Company we therefore,
with the same confidence, invoke your careful In.
Treasury Department, its management will COM
mand the decided appreciation of the impartial
people of Maryland.
We have confined our remarks to State mat
tiers because they are subjects with which we
feel ourselves especially called upon to DEAL
The executive officers of the city of Baltimore
are fully capable of viudcatng uccessfully their
management of the financial affairs of that city.
We think that we have fairly and frankly dis
posed ofall the insinuations (for nothing has
been stated that rises to the dignity of an accu-
saiion) which has been made as to the treasury