Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1883-01-19
rUE TREiSURY md PENfTEN-
TIIRY REPORTS.

w q ilNNf uAilt't't'- ~
binds of institutions before US, but deem
r !, necessary 10 note only those which re-
l.,e To the Affairs Of our State or to the
p,Lic Institutions thereof and this to
.,cb an extent and in such connection
i. nav be Of interest to our people.
Comptroller Keating's report is, as
: o.u,l tall. and on the whole, complete
n +. details He shows that the total
amount in the Treasury in cash on the
3ath day of september 1882, was S6j7,-
5g2 50, being less than the previous
wear by Sl29 O9s 6S, and diminution
ii the balance in the Treasury proper to
the extent Of Sll3,691 Co. although
%. are at a loss to know wherein "a
diminuton Of the balance in the Trcasu-
~ proper" differs from IAN amount of
e,.b less than. g." The 1iniuuJion Of
sIl3 6gl SO must relate TO some Prcvi-
IN. wear or some amount previously in
,ba Treasury taken as standard, but
we are not informed what the year or
what the standard is Previous reports,
bowcyer. which we have not at hand,
NAV explain this. The statistical tables
appended to the report, speak for them
selves of the amount and several sources
Of our reyenae aud of the amount and
nature of the expenditures.
The State debt, less S40l ,529 alrea-
dy paid into the Sinking Fund, is SILL
269 O3l IS.
The report says, "under the Defence
Redemption Loan Act of 1882, chapter
$50. tue Defence Loan Of 1868 which
amounts. in round numbers, to three
millions Of dollars, bearing 6 per cent.
interest, which falls due in Jan. 1884.
will think, be counted this year, at
par, and perhaps less, into the new loan
at 3 % per cent interest"
In this connection we would call at
tention to the rumor that has been in
circulation for some days that the State
Board Of Public Works has decided to
refuse to exchange the new bonds for
the aforesaid Defence Loan bonds ma
turing in 1884, but have decided to sell
the new Loan to a syndicate at a premi-
UNI This has caused some concern
among the holders of the old bonds who
claim that under the End and Bird sec
tons of the Act mentioned they have
right to exchange their old bonds for the
new at par and the Board is bound to
give this effect to the law by issuing
new certificates for the old on presenta-
ton. If, however, the construction
sought to be put upon the act by ma
jority Of the Board can be maintained,
it may be a good thing for the State at
large il the premium which it is said
can be realized But we do not listen
with approval to this talk of a syndicate
when we recall the transaction which
took place at the time the Treasury Re-
lief Loan of $500 900 was sold at .nriass
8 below what r~reUSrtR 49, |l
e open market. But more of this herea
il ter. AT present we must not prejudy
!, the matter, but believe that our Sta
= Board will act for the hest interests
e the State under wise Interpretation
l. the law
t. Another matter of importan
n alluded to by the Comptroller is, tn
If there has been since 1877 an aggrega
IT decrease in the assessed value of prope
ty upon which the direct tax IS levi
re to the amount of $13, 643, 149, VIII
e the actual increase in the value of pro
n erty within the past five years has be-
r, large. This is due, as we know in tn
= county, to the fact that every one who
Il taxable wealth decreases goes before Il
e tax court for statement and every OF
is whose wealth increases is not re-assSs
s ed. Mr.. Keatlng's suggestion here
: good-thaS every person holding pro-
5 erty shall be required to go once a vel
r to the assessor to be taxed according
r his actual worth" or that some more ce
g tain method for the assessing of a
n property in the hands of every citizen
t adopted
r 1t is rather lamentable, that ii
; amount of outstanding Indebtedness fro
: collectors is 1925, 4S7 60. That til
$ should be possible would seem to ca
q for an improved method of collectin
| t,xcs.
We have to call attention to the an
nual report of the President and Direc
E tors of the Maryland Penitentiary. W
] think word of commentator is du
! Gen. Horn, the present warden of til
, Penitentiary and chief execution officer
for the prosperous financial condition a
shown by his report, as well as for til
5 healthy condition of the affairs of the in
stitution generally. Notwithstanding tn
) increased cost of provisions during tn
year and the decreased number of inmate
tbns lassaniDg tho yrorEino foroa e.,