The Republican. [volume] (Oakland, Md.) 1877-current, 1897-01-21

represent the highest type of modern
penal institutions both as to size and
security.
AS an offset to this debt the state
holds stocks and bonds, including in
vestments in the sinking funds, the
par value of which is S., GAG, 433. II,
but market value much greater, nota-
bly, the stock in the Washington
Branch of the Baltimore and Ohio
Railroad Company of $55O,O pay
ing 5 per cent. semi annual dividends
and the States interest in the North
ern Central Railway, amounting to
81 500, 900, leaving the net debt of the
state at the close of the fiscal wear
1896 So, 1913, 5531S.
FREE SCHOOL BOOKS.
The amount of levy of 2 cents on
each 800 for free school books aggre-
gated $108, 092.34. If every cent of
this sum had been collected and added
to the amounts received from tax on
Incorporated institutions and Balti-
more city stock, yet it would have
been $29, 35905 short of the $3.50, 900
appropriation. When it is remem-
bered that a large percentage from
every levy must be allowed by abate-
ments from insolvencies, erroneous as
sessments, etc, it will readily be seen
that the tax as now levied for this
purpose will never be sufficient to
equal the appropriation. The re-
ceipts during the year amounted to
only $G3, COTS, leaving deficiency
of $50, 370.22 rs a net payment from
the treasury proper, which must
necessarily be increased from year TO
year as the statute now stands.
The above sum of $4,000 was ap-
portioned by me in strict conformity
with the laws applicable to the same.
Sec. 3 Of chap. 135 of 1896, recites:
''That the whole Of said snm shall be
apportioned by the comptroller in
the month of July of each and every
year as the state school tax is now
apportioned." This was done to the
fraction of mill The state school
tax has been apportiOned by this de-
partment but one way for the past
twenty-four years, or since the pas
sage of the Act of 1872, chapter 377, in
the correctness of which there can be
no legal doubt. | Obeyed the law
and apportioned the above sum las
the state school tax is now appor-
toned" If there be any Inequalities
in the law, the legislature is alone re-
sponsible and alone has power to cor
rect them.
The above report is very gratifying
in many ways. 1t shows that the
financial condition of the state is
sound, that the state debt is com
paratively small about So per capita)
and that the Republican administra-
ton has not wasted the states money.
The moneys appropriated by the late
legislature were &5G0,0o0 for q new
penitentiary, 100000 for building an
insane asylum and the free school
book fund which was not fully pro-
vided for. The above three objects
are all most worthy and cannot be
looked upon as needless extrava-
gance.
The shrinkage in real estate has
been felt by smaller receipts from the
several tax collectors in the counties
and the diminished amounts tell the
tale of depression and hard times
The oyster fund is an expense, or
rather has been heretofore, but better
results are expected since it was over
hauled by the late legislature. The
sinking funds of the state are wise
provisions and one of the funds now
in hand is more than sufficient to
take up the indebtedness that it
stands against. The defense redemp-
ton loan of 1882, due in 1899, for 3d.
600, 900, is the next debt to be cancelled
and it is comfort to know that there
is already nearly enough money in
hand to liquidate it. Every citizen
ought to acquaint himself with the
finances OF the state and hold public
officials to careful and economical
management of them.