Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1883-01-11
30 q 81

49, MAHHA4 REJECT q tie condition q
the finances . she State. from whivf
We make The following extracts:
The receipts into the Treaty..
which we're s ] 90, 4S1 AZ. are BY
l2,l56. 81 than IN the fiscal year
ended June 30. 1881. There Is been
passed 70 the free school fnnfa sum
Of $le.52047. which remgAs unex-
pended TO the General Styling Fund
$495. 46 These fuo snuy being adj
ded 70 tAe S6S6. sos lsS i the Treas
nry proper. il i fonn1 hat 4he total
amount ~ the Treassy in cash Is
S657 IS. This less than khel
balamcs left over fukn the previous
year BY $I2o. Oo8 The diminu-
ton al the halancfin the Treasury
proper j. $llSg0l.66. A Loss Of
$l9625 q was ghcurred in investing
SOS. ll4.4O infhe bonds Of the State
before matnrik. with the net result
Of placing $500 in the General Sink
ing Fund id S162, Sg9.lS in the
Treasury Flief Sinking Fund. In
view Of III fact that the outstanding
debt Of te State is but $l0.S6T. 5O2.-
50, andfhe State is the holder of val
uable forks Of internal Improvement
pledgd to its payment, Mr.. Heating
seem to be little favorable to the
plaTof buying up the debt in ad-
yafe by paying heavy premiums to
tn holders Of the States roads. ITO
n 80, he says, would require the
opposition of such a heavy tax upon
her people as would wake them up to
fthe folly and extravaganza of such
system and cause them to mark with
: heir speedy condemnation the per
traitors of j." He thinks the la
test expression Of public sentiment in
this regard was to let well done alone,
and cease chickering's and contentious
upon the subject. The Legislature
Of 1882 adopted the policy of reserv-
ing the securities and funding the
debt they represent, as it becomes
due, at lower rate of intrest. By
the Defense Redemption Loan" act
of 1882, the Defense Loan Of 1868,
which amounts to about $4,000
bearing six per cent. interst and fall
ing due January l. 1884, Is to be con-
verted into a new loan bearing 3.65
per cent. interest. Mr.. Heating is Of
the opinion that the loan will be
placed this year lat par, and perhaps
less"
The Comptroller continues: The
revenues of the State last year derIv-
ed from her investments, were, $l47,-
994.67; from licenses. $5l7, 354.69;
from direct taxes, $S98,S67.l8; from
taxes on civil commissions, commits
sioners of executors and administra-
tors, collateral inheritances, protests.
and gross receipts of railroads, $207.-
1889; from other and miscellaneous
sources, $l52, 94504. making the ag-
gregate sum of 81 ,924, 48I.47, and en-
bracing the total receipts of the year.
The receipt t. from these, which con-
stltute the ordinary sources of reve-
hue, vary in amount from year to
year, During the year 1873, the first
year of my term of office, thew were
81 ,62S, 643.23, making a difference
between the two years and in favor
of last year of $500. S3S.24. If these
sources of revenue had proved as
available in 1878 as they now are, no
Treasury Relief Loan would have
been needed and it is chiefly because
of this increase that the Treasury Of
ficers were enabled to expend last
year the sum mentioned above in
Sinking Funds, aud to preserve a
healthy balance for immediate de-
mands.
Since the assessment made in 1877
there has been a decrease in the as
sessed value of property upon which
the direct tax is levied. The aggre.
gate decrease since 1877 is SIS, 643.-
lao. The increase in the actual value
of property of every kind during this
period has been marked, and the de-
crease in the assessment is the result
OF the notorious fact that everybody
whose taxable wealth decreases goes
before the Tax Court for abatement.
and everybody whose wealth increas-
es avoids a re-assessmsnt. This gives
me occasion to repent the suggestion
made IN my report 20 the Legislature
CT 1880. that not until every person
holding property shall be required to
60 once year to the Assessor to be
taxed according to his actual worth will
taxation be equalized and its burdens
De imposed so as to fall lightly on the
many rather than heavily on the
few. Should your Excellency concur
IN this suggestion, important aid
would be rendered towards its accom-
plishment. One day in the year de-
voted to such purpose would GER
tainlv be modest demand on the
part OF a government whose per GEN.
tum of taxation has been kept, under
existing circumstances, within the
moderate dimensions of the present
State tax.
The State levy for the year 1882
was 1871 1869, of which was pail
into the treasury the sum of $500
923.79, and the balance of $3.50
$3.50 remains uncoIlected. The
amount due by collectors OF previous
years exclusive of interest, is 1915.
964.63, making the total amount un-
collected $926, 587 SO. These out
standing taxes, in hands Of collectors.
have oeen reduced in amount since
the year 1878 S223,slS.s2. The sum
Is, however still large, and il would
be great help to the revenues OF the
State if some improved plan for the
Prompt payment of these taxes to the
(. State were adopted.
The receipts OF taxes from incor-
lporated institutions were $63. 1856. Al
The amount due and unpaid by these
institutions is $lOs. 1855. Steps have
been taken TO enforce these collec-
tions.
"The receipts from licenses and
taxes imposed upon foreign insurance
companies were $49.442.24, In the
year 1851 they were so, $3.50.
The gross receipts of the tobacco
warehouses were $72 .0Z0.53. and the
net earnings s., Coz 10. The Tobacco
Inspectors receive sglary Of 1880