Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1877-01-12
The State Finances.
ANNUAL REPORT OF THE COMPTROLLER OF MARY
LAND TO TIE GOVERNOR.

ANNUAL REPORT OF THE COMPTROLLER OF MARY
LAND TO THE GOVERNOR.
Colonel Levin Woolford, Comptroller of the
Treasury Of the State of Mary land. has sub
mitted his seventh annual report for the fiscal
year ending September 80, 1876. The total
receipts were 81 Gao, 1873 60, and the balance
in the treasury on the Both of September, 1875,
was 81, O3s, III 80, making the aggregate
amount in the treasury during the year SO 078,-
24l 95. OF the amount received Sl35, $50 25
was from the sale Of the Maryland Hospital
State loan and SGG, 924 81 from the United
States of n portion Of the war claim of the
State, leaving the receipts from ordinary
sources TO be 5 1873, ! 50 81. This is cOusld-
erably less than the estimates of receipts for
the year made in the previous year, owing TO
the decrease in amount Of State tax levied IN
1876 the failure of the Baltimore and Ohio
Railroad Company to pay the accustomed div
ideni on the stock of The Washington braHch,
to the postponement Of the payment
Of the gross-reccipt tax by railroad
companies, and by the Gling-oT Of the reye-
nue. from licenses to foreign insurance compa-
mics under the act of 1876, chapter 24S.
The total disbursements during the year
were 81 &c, 8lO.G6. Or this, 1888, 5Gl % was
expended in the redemption Of the sterling
bonds of the State issued to the Tidewaier Ca
nal Company, which have been due in London
since 1865 in redemption Of the defense loan,
issued under the act OF 1864, chapter - and
u portion Of the debt issued for the Susque-
hanna Canal Company S3i, 400 08 was eX-
pended for the completion of the State normal
school $40. 90 81 for rebuilding Stale to-
bacco warehouses destroyed by fire, Sl35,
1913 80 Maryland hospital for the insane. ~ o.
600 for the Centennial Exposition, aud $685.
9jG 60 for sundry special appropriations lety-
ing the amount expended for ordinary pur-
poses s GIG 3O0.47 The balance OF the APP
preparation for the Maryland Hospital for the
Insane for 1876 was not drawn from the treas
urv until since the close Of the fiscal year.
The balance in the treasury AZ the close OF the
year, exclusive Of The amounts TO the credit Of
the free school fund and sinking fund, amounted
TO S40l 434 % The balance TO The credit of
the free school fund was 1913 99i AZ. aud the
balance to the credit Of The sinking fund was
S28, 408 81, making n total cash balance Of
S453 83S SO. The probable receipts into the
treasury during the current fiscal year are es-
timated al 81, 1874, 483 49, which if realized
and added to the balance at the end Of the
year just closed viii make the total amount
in the treasury daring the fiscal year S77 TO
be s., 5G5, 9l7.44 The estimates Of expendi-
lures for the same period are pu, down al
81 8O9, 4G7 80
The aggregate Of the free school fund during
the year was sol 544 %. and expenditures
S67 548 10 Receipts from dividends on stocks
held by the State were So 562 60 Receipts
from the oy sicr fund amounted TO $50, TGI.TS
Expenditures S4S 3GS. Amount standing to
credit of fund, S249 $50 26. The productive
Investments Of the State amount to 81 800, =
l05 50, and unproducive investments $50
2S7 Gal 76 There is also due tie State from
the Baltimore and Ohio Railroad Company
and others, 50 600 600. The total amount Of
the public debt was at the close Of The wear
:, 30, 100 52j 49, Of which S5,0l4 333 50 is
sterling debt on which the interest is payable
in coin in London. The debt has been re-
auced during the year S677, 088 85. The putt
lie debt has been increased lay Sl3j. 000 on ac-
count OF the Maryland hospital for the Insane
The State has uuquestiOnuhIe assets amounting
to 81 920 les 80. The amount therefore on
which interest must tie raised by taxation IN
some form is So, SOL, 4l9 81.
The lax levy for all purposes for SIC was
Sac. 2lS 81 of which Sl29 / II II were for
public schools and for interest S3ll, LOG 40
These are the only items for which a levy is
now made for State purposes The basis of
tdxatiJn for the year was 1929 ll2.4lS, which,
it is expected, the new assessment will largely
increase.
The tax levy for public schools welded
S5G5, 5l2 II which was Distributed: to white
schools, S452 3S7 IL; colored schools 500,
000 State normal school ol3, % There wus
also eHpcldcd from the treasury 81 600 'or
The eolored normal school, Baltimore; So 925
were expended for State bounies, and S3G, Gao
for pensions The receipts al tobacco ware
houses were Sl39 3l4 So, the net amount over
! expenses being 81 go 81. CT the receipts du-
Sl.l55l7, Stale live stock scales Baltimore
s.. 296 L., State wharfnger, s., 42i CO and
the weigher Of grain 50 707 6 The report
concludes with stating that the State taxes
| have been materially reduced, and notviIh-
standing the universal depression in the bust
ness Of the country The credit Of the State is
al the highest point, and her securities are
eagerly sought after in the market at The high
/ est rates.