The Republican. [volume] (Oakland, Md.) 1877-current, 1897-01-21
STATE FINANCES.
Comptroller Graham Makes His First
Report.

of the treasury of the State of Mary
land, has submitted his annual re-
port, showing the receipts and dis
bursements and the financial affairs
of the state for the fiscal year ended
Sept. 30, 1896, to the Governor. In it
Mr.. Graham says:
RECEIPTS.
The total receipts during the fiscal
year aggregated SO, 1868 to which
sum must be added the balance in
the treasury proper Sept. 80, 1895, of
$704, SIS. 10 and cash to the credit of
the funds account of 100000, max
ing the total cash amount in the
treasury for this period $500, 443.84.
This sum exceeds that of the year
previous by $547 631 .55, while increase
is shown by the issuance of the two
loans authorized by chapters 164 and
1866 of the Acts of Assembly of 1896,
known as the insane asylum and pen
itentiary loans. The amount from
these loans, 1912, 1884, if deduced from
the receipts of the government for
the year, would show as ordinary re-
ceipts the sum of 50, 5A, O91 "a, a sum
less by $65, 1915 than for the year
previous, and less by $62,012.03 than
the fiscal year 1894.
DISBURSEMENTS.
The disbursements amounted to
$2,945, 401.07, leaving a balance on
hand Sept. 30, 1896, of 1916, O4276
This sum of 81, 945, 401 OF is greater
than the preceding year. which is al
ways incidental to legislative period
and augmented this year by pay
ment of 5000, TITO on account of the
penitentiary loan, together with the
further sum OF $150,000 for free books,
another large expenditure. As you
will also observe, there was paid to
the second hospital for the insane the
sum of $99, 500, under chapter 231 of
1894. This amount was used in the
purchase of a sight for said hospital
near Sykesville, Carroll county, and
in the maintenance and equipment of
the same, which sum was further
augmented by the insane asylum loan
of 100000, fully guaranteeing the in
stitutiOn ample means to be a credit
to the state.
SOURCES OF REVENUE.
The amount received into the treas
ury during the fiscal year from loan
taxes aggregated 1882, 1924 SO, or $751;
260.81 less than for the same period in
1895, which is explained by a differ
ence in the state tax levy for 1896 and
by a shortage in receipts from cOllec-
tors. While the state of ia cents and
the school tax of 10! cents thereof re-
mains the same as last year, yet the
legislature OF 1886, chapter 1855, regu-
lating the levy for state purposes,
changed its division and purposes by
repeating the tax of 81 cents for the
defense redemption loan and the Il
cents fer the exchange loan of 1896,
enacting in lieu thereof a tax of 81
cents for the outstanding debt, 1916
of cent for the penitentiary loan,
3-1G of / cent for the insane asylum
loan and cents for the purchase of
free books in the public schools, the
latter tax being thoroughly mad
equate for the purposes sought.
The tax of 81 cents for the redemp-
ton of the defense redemption loan
was very properly repealed, inasmuch
as its sinking fund was then nearly
equal to the amount of the loan of
$3,000,000, and now at the close of the
fiscal year is 1924, 77O,O5 in excess
thereof. Suffice it to say, however
that after paying the interest upon
the public debt, as required by law,
there has been placed to the credits
of the sinking funds the amounts
above mentioned, sum more than
sufficient to maintain their integrity,
to which policy shall rigidly adhere.
ASSETS.
The productive assets of the state
aggregate $500 249.99 and the I'M
productive SIS, 1296 90. The stock
of the Annapolis Water Company,
amounting to $50, 600, was transferred
to the unproductive column by reason
of its failure to pay any dividends
since July, 1894, The item of &74, 600
of Frederick city per cent. bonds is
less by $42, 900 than at the close of the
last fiscal year, for the reason, that
this amount was exchanged under
chapter 172 of the Act of 1896 for
like amount of the defense redemp-
ton loan stock. You will notice that
in making the statement of produc-
tive assets | have capitalized the an
nuity of 100000, secured by mortgage
upon the Northern Central railroad
at per cent Should it be found ad-
visable to dispose Of this investment,
it could be done at much higher
figure than is placed in the state
ment.
STATE DEBT.
AT the close of the fiscal wear 1896