The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1879-10-25


tii,ii on
h IN - '''''''' u 9, co, ,oo nm
I, iS1l ononnfs tn i In -1i
-
Reduction by exchange during
the year. 437, POS. A.
-------
Total reduction by sale aud en-
cnanGe. ~, -. 10 4,
mn 'hl' 'heS r'uuceo the debt ooo''o'-o"
c, a., a,
n. a,S'nnnt Of ""''' ''' " e35fI.s 81
s1o OH as ~ or % dsnroasa IN tho Stato
LaI,t ~ 81 .aE oto 10 NJ: -. ~
.'00'' ~" was
III the lollo"lhS manner:
Stocks in SINKING fnnd hurnad
mn (ser Cnn,,5roIlnr,s renort
for 1872 statement FN 81 -n4 1877 %
Stocl of Baltimorr civ soii Ia IN, oo
MAKING 81 $40 TT %
In this way the debt was re-
duced sos, O4O IL
c,,...:.,,.
~" ,i,r '''!'' "oisc Oh 70 COCO COZ n
- '''''''''' VI s'''''''' ~
-hoW, We ask you, fellow-citiZens IS
State 5 finances as to merit your approval
and continuance of your confidence III
the men who effected it? Does It not
rather SHOW degree Of bungling and
incompetency, to use no harshcr term.
which calls ior your most decided con-
dcmnation?
10 appreciate the lull measure OF the loss
ehtailca upon the state by tins bungilhS
ana ihcolnpetehcy, II Is necessary to COL
iect III one aggregate the actual increase
III lhe dcoE ana the decrease III tie state 5
assets rs l"lloWS:
Increase in debt since 1865. s1313 $50 s.
Bonds Of Baltimore and Ohio
Railroad exchange in 1868 $50, 33S Sc
5000 shares of stock of Balti-
more ana ONO hallroad sold
at - ;" per ShafS IN 49, L.. 'oo'ooo.oI
i'un.t1 H., iar,,i.i"re anH ONO ,o- ao- n,
0''>' '-'''S 50
showing tle State worse off in
! 1878, after II wears of Demo
| cratic rule, to the extent of. .Sl,4o6.
| u-o1-, :. ~ , c,,,. "a;
.o' III ''ii e'.ii w. ~ ~
a'4; us ',M,!' ' h .i,r osa
w pa - no q n' " oI iot.s' VI
W h'' - w NC 'i'I ie"."e VI SUN ii .'il
elnIlit - -, IL ~. oei''ili ~ Ai.p.os
VI I''' 10 ''li ""' ~ d 'eN o.'>' n o:.oiip
ci t,ie ~ ~ =; 81. N.Y. =,
i i, uiiI "i1ioii'' "i .1p'',i''r" 'p''
'i' J'' , t' VI -i"l ,',i.(.
- W., 49, 10 I ~, S 60.
l,. eli W ~ ": io'is CO. ~.
oli'els " mus 'tis 'cei.'l siili's " i'oe
Ilie current EXPENSES oi tnc eo1tlliile ~
anu lIe interest on the 2tate ueot'
Silo" you !hat we are oeaIlns III c no odse
iess "Sssi .loi., We eAti ae' ne nc" p.o
St's.S IN vi 'NO iepoi'' VI Neiiooi at N
o,iil'.io 3I H,c, :. 4o-, .
says -nli "ooiloio' III t? m Pug y
n lel''lI loI 'n"C s'" ne eA'l'oi
t an IS!eias'n vi . .iio ,aso s,Ss"n
tons n made at that session i made it nee &c
essary for the Treasurer to issue Sol 600
under the act of 1868. chapter 235. il
order to reimburse the treasury in TIM
to or0cide for the nnpAtcnlt Of tie interes
on the DuJiic Debt Thus was the treasur
! of MARYLAND compclled TO issue new
bonds and to create new debt to pa,
tho manual interest on it's subsistinp in
dcbtedness
In his report of 1877. pare SO. TIL
! COMPTROLLER calls attention to the enba1
raised condition of the treasury. althoup]
| in 1877 he had boasted of the immens
revenues for that year as greater bv
ouarter of . million than those of 1871
and declares tbat provision will have +
he made at once TO s,ipply the deficiency.
and that .D,,r t1rss Inust he j,oDosfd
accordingly. the LEGISLATURE which me
in Januarv 1873 nassed an act, cbapte
o2o ,utbor;,inr 4 NEW loan OI
HALE 4 WILTON OF DOLLARS
AND 4 NEW TAN of ono and a-hol
cents on every hundred dollars. and ais
authorizinr the sale of bonds of the Ba
timore and Ohio Railroad Companv TIL
surnrisino raDiditv with which the loa
created nv This act was used will annea
from tbe folIoyinC sad evhihi+ior Of III
bankrupt condition OF the treasury, take
from the Noliptroiier report OF loH
Pay .. IL WIS approved ana 100
ehect Oh Tue ISL Gay oi April 1910. IN
treasury T"S thr" emP'y may sag. @orS
.I'"" emt'y. IL MA borrower from one
us Spccftl iunds lhe money Wlllch wa
tneh heeued iof the special purpose t
winch IL lad peen uedlcated. Belor
even the ceftlilcates OF dept or BOND
couid oe pflliIeo thls money was fequi
ca, ah" lellporafy loal VI ?l>o'ooV ma
10 NC heSotl'Ieu lor immaculate relei.
we ASK you ieiio" cltlZenS, II we ar
liot Justiiiea III say ing that the state
oiiicers are driven to most dlsgracetu
shilts 10 meet tne current expenses oil tn
9o,,I,1ia d,1,+. lie I, ~ ". VI
pec+ f,o,, y r,i,,od s,,omathr;rt i,,,4 ',1' =,
+, ,,,,Ioar,';,,|, tI,a J;>,,;t,,,f 80. ~ ,'
Lonoral In lta4a .
new loan. or $3.50. 900. had been issued
and the money expended to meet fin
rrcssino demands of the treasury WI,
has baen dome tbis ve.r wa do not l,no.x-
as no CnmntroIler.s ranort i ,-et n,,hIisb
sd. Whether the remaining $25O,OO ha.
been required to meet the States oblina
tions we know not. but Mr.. ComptroIle,
Keatinr reportn,l that ON the Roth n
September. 1873 (sea his rcport. paae To-
notwithstanding this ou.rter of n mil
lion received into the trea from tbis
now loan the evnepdituros Of +ba WOO,
had cYccaIcG thn reco;nts Inv the cun, ol
s193 S15 - which vonId seom 70 Law
little doubt tlat he has put the REMAINING
quarter of million of loan on the mar.
! ket If this is thc case then more tbon
+b,oo ,,,,,,4.,s ,f n milan ,f doIIo,s i,
.l,,dinIr ths soG1 o0n ;scuod in 1871 hns
heen horrova5 since thn Snr;n, of 1874
and =, new, narm,nent debt Created r.
flat amonn- So th,t the treasury might
nav lis int est on its pre-eyisting debt
vv,,o 49,, ..;.1ot,, :, -,
,oNa iIi tiIt nc, IN v"ii'''i
H. .ne III l,;atnI h Va Cue
y - '4.:'' w ! ~ ~: ~ oiiei
he''Lis Vi pay VI iiia iePoi''
-" When entered on the duties of this
office on the end OF the same month