The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1877-01-13
pnblit afairs.
THE STATE FINANCES.
Report Of tho Comptroller Of tho Tr.asur,

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Report of the Comptroller Of the Treasury
Hon. Levin Woolford, Comptroller q
the Treasury Of Maryland, has made hi
seventh annual report TO the Goyernol
We subjoin an analysis of its salient fea
lures
During the fiscal year which closed Sen
tember 80, 1876, the receipts into tn
treasury from all sources were 81, ,O40, 1873.
62, and the balance on hand at the com
mencement Of that fiscal year amounted /,
81 ,038, ,ll1.33, making the aggregat,
amount in the treasury during the yea
s3,07S ,24495 OF these receipts the sum
Of sl35,050.25 was the proceeds Of thu
sale Of the Maryland Hospital State loar
and S66,924S4 from the United States
treasury on account of Maryland's war
claim; leaving receipts from ordinary
sources at 81 1913, 1888, which is con.
siderable diminution of the comptroller's
estimate in his last report. This falling
off is chiefly due to the decrease in the
amount Of State tax levied in 1876, 10 the
failure Of the Baltimore and Ohio Rail.
road Company to pay the accustomed div
idend on the State stock in the Washing
ton Branch, to the postponemeut of pay
ment of the gross receipt tax by railroad
companies by reason Of appeals from judg-
ment rendered against them, and to the
falling of in revenue from licenses to for
eign insurance companies.
The disbursements for the fiscal year
were s2,G76, ,Sl0.66. OF this sum $685.
56l.22 were paid for redemption of sterling
bonds issued by the State to the Tidewater
Canal Company, which have been due
since 1865, and in rcdeeming the defense
loan Of 1864, as well as part Of the debt
contracted for the Susquehanna Canal
Company,
In this expenditure is included S34,-
469.0S for completion Of the State Normal
School building, $50, 1862 for rebuilding
the State tobacco warehouse DESTROYED by
fire; Sl32 ,641 80 in erection of the House
of Correction; sl35, 1880 for Maryland
Hospital for the Insane; $4,000 for the
centennial exposition, and S6S, ,956.63 for
special appropriations under sundry acts
Of Assembly, leaving the amount expend-
ed for ordinary purposes 81 GIG, 300. 40
The balance in the treasury at close of
the fiscal year, exclusive of the free schools
fund and the sinking fund, was S401, ,434.-
30 The free schools fund balance was
s23, ,995.47, and the sinking fund balance
was s28, ,40S,S7, making the available cash
balance on hand at close Of the fiscal year
s453, ,s3s.63.
The comptroller estimates the receipts
Of the current fiscal year at 81, ,164, ABB. .l5,
and the expenditures at 81 ,SOs, ,4O7.33.
The free schools fund aggregated the
sum of s9l,544.22, and the disbursements
were s67 ,54S.75-leaviDg balance on
hand of s23, 3,995.47.
As increments of the sinking fund there
were purchased s250,000 bonds issued for
erecting tho House of Correction, and
100000 for building the State Normal
School, which bonds have been cancelled.
The receipts from dividends on bank
and other stocks held by the State, and
interest on bonds of the Columbia and
Port Deposit Railroad Company, were
s72 ,562.69. No dividend was received
during the fiscal year on shares of stock
held by the State in the Washington
Branch of the Baltimore aud Ohio railroad.
The receipts on account Of the oyster
fund were $50, ,764.7S, and the expendi-
lures therefrom were s4S, ,36S-leaving
standing to the credit of that fund S249, :
SS2.26.
The States productive investments
amount to 81, ,329, ,105.89, and the unpro-
ductive investments, including interest due
by the Chesapeake and Ohio Canal Com.
pany, aggregate the sum of S29, ,2S7 ,O41. .76.
There is also due the State large amount
from the Baltimore and Ohio Railroad
Company for the States portion Of receipts
from passengers on theWashington Branch,
from collectors of tax, from other officers,
and from sundry incorporated institutions,
the whole aggregating about $4,000, 600,
most of which win be realized and made
to offset an equal amount of the public
debt.
1he Vo'ui anioun' vi 'he PuDile oeDe AT
close Of the nscai year was slO, 5o,o25. 40
of which s5,014 ,333.35 is sterling debt
the interest being payable in coin at Lon.
don This debt has been reduced during
the hscal year by the sum OF s677 ,OSs.sS.
During the same period the debt was in
creased sl3o 900 on account OF the Mary
land Hospitaifor the Insane. The State has
unquesti,onable assets aggregating 81 ,929, J.
lOo.o9, leaving s5,SOl ,4l9.57, on which
interest must be raised BY taxation.
The State levy for all purposes in 1876
amounted to s74O,2lS.s1, Of which the
lew for public schools was 1920 l12 al