Port Tobacco times, and Charles County advertiser. (Port Tobacco, Md.) 1845-1898, 1886-01-15
The Tobacco Warehouse Fuai

matter more particularly in this issue
1t VII he remembered 10y all who have
given this matter any attention that the
tN eRsiy? property now used as the State
tobacco warehouses was purchased at dit
ferent times hy the State a4d special loans
issued 10 meet he expense thus incurred
IN the purchase and improvement Of this
property The acts of assembly authoriz-
ing the purchase of this proper Y especial
II devoted it to the purpose OF tobacco
inspection and provided that the loans
thus incurred should be discharged hy the
revenues accru;ng from the outage charge
upon tobacco; and the treasury officers
were directed to keep separate account
upon the books Of the treasury Of the to-
bacco fund to which the principal and all
interest paid upon these loans should be
charged and cTedir t. he given Of Al the
net revenues &ccruing from the tobacco
/ fund.
The Legislature of 1874, By an order
passed, requested tie Comptroller to fur
niSA an item!ked statement of tie tobacco
luad account, and IN obedience to their
order Comptroller Woolf,rd furnished 10
that body a very complete statement IN
which The amount of he several loans and
the manner Of their redemption by he re
ceipts from he outage tax upon tobacco
was definitely set forth. By this safe
ment 1t appeared that charging the tobac-
+ Go fund with the amount OF the several
loans issued Tor The purchase oi tie ware
house property anI all interest thereon
ana giving i crsdlt hy tie ret receipts
+ from tue outage TAX upon '"Naace over
IN" ABOVE TIE expense oil operating the
WAREHOUSES, ana there was sti balance
OF SOL, l6o u in favor OF the state rrquIF-
Ell 10 balance the account. In the same
statement tue '"mptr". er. wlth his ch2r-
&cterIsIIc talrress, referred to the fact that
the receipts Tor wharfage from the wharves
""'ch form part q the warehouse proper
", which PRIOR to 1888 had been q voted
to tue redemption Of one Of tbs specia!
loans since that date, owing to an over
sight IN legislation, had not been credited
to the tobacco furd at al. but had lesn
'.
'u'aeo GFeo'iE INTO the treasury
BY an order passed Ivy the Sena'e at the
session of 1884 tho nreesnt C,-,ntrolIe~
! lu'Ap' was f.Qaes ed 70 fuFnlsA the lie
cislature with a sun1ltmcrt.t statement
'"' - AZ S'''N' "a Z '"''''" 'H''" -
that time. In that statement Mr.. Turner
Mt only f,;,.I >, MIA o-,- r,,r+:..., e
+ tue wharfage Tocs'vtS "hich since 1913
have been GOING directly into The treasury
'"' WI e"''i'"1 '"e '"'a"ee snow" y
T Comptroller W oolfuTd's stttement Of SOL
1cS nj NJ tha l,,si. of liz o,,c,I.tiop SIN
I "F s.|Sui*f Inconsistency chAILea t"e
tobacco f1nd interest on Si33, sos g. for
.ha ,ins wars oovor.l br lie s.afs,,crt
+ ne I1iioWihg EDITORIAL RON tRe ! INES Of
February s 1884 Immediately after Mr.
u nel report vas "aiF' 'u''y P''n's
ont the nature % tfr sarge error re made
BY which an undue prejudice WIS 1T that
t'ul" etsa' F" Et4a>S &c ''"att" iooptC-
ton system
Csmptrol.er Turner made ont and re-a-a,H
10 the S-nat. on tie 3Jih uitimo in oheaIeucs
to the order previously passed b, that hai- 4
statement Of The pgeseu: condition Of tbs To-
hacco Fun! OF tbs looks Of tie treasury Mr.
Turner takes as basis Of his statement tle
ba.ace shown hy he repor, Of ex Comptroller
Woolford IN 1875 10 to then due to the STATE
and gives the itsm~ OF debit sni credit as they
appear upoa the book. Of hi. off.e down 10
September 30sh, 1885 Is these be make. II
appear that the expenses Of the system from
Septsmoer 2Olh, 1875 down to September Both.
1883, inclusive o. the baIauce then due and in
lerest on lo,rs. Insurance. etc. amounted to
81, 032 $50 SO, while tAa gross receipts within
that period only Amounted "a SS05, $50 l.,
leaving n balance due the STATE September
30th, 1883, Of S22G 423 80
This statement contains oae ycry remarkable
error. which gees to illustrate how vsry loose
IT., if not desi-nsdIy unjust, this tobacco tunt
account has teen kept upon Ii. book. 81 the
treasury. Ih0Ugh tie Stfi-asnt s'Fr's sih Il
bFlzncs Of SCI lG3 ca as due III. Ss4ss Setf~ua-
Der 3Jtb, 1875, il ostI b> cjssrsed t.at tie t11ad
IS ch9r3ad gtt interest on 1913, I5j IS, tram
tt1t dIie 10 5 ptem5cr 33th, lss3. thus charging
cross Of interest 70 the amount Of S24 $40 4J.
/ At the close OF his statement in 1875 Comp
/ trollsr Wexford deducted The fun anoasts of
the three loans then outstanding in behalf Of
me Io3acco faEI W loan OF 1913 en- $40
-, 900; loan OF 1912. On 81 SII coo %;
and !osa OF 1876, Oh. 348, 81. I05 50 and al
Ter ali these loans amounting in the aggregate
I to l26 III . weTs deducted, there was only
balance OF oi.l68 o. dae Inc State, rs above
stated. 10" Comptroller Turner. in his recent
statement, ~hi'e taking he balance Of SOL
I6S Oh rs ol>ls, continues 10 chTEgs MI iHts'-
est on all q tn abors t71Hs he fHti amounts q
/ teh'rh hIa are'Iy zen ch7rg'4 10 hfs 'oh 'cr5
tb"a 5y c>i"Ffr1Her bo2bor5. And more than
NAV ne runs tHe ioiu OF 1919 o.? 10 >Sl PSI 10,
chargi ng "a We have said Interest on ?ll3 $50
/ 81, While The fund only o"c= the State SOL
/ l68 0f.
VI course the OlIr proper charge tor interest