Democratic messenger. [volume] (Snow Hill, Md.) 1869-1973, 1903-03-14
Governor SMITH SPEAKS DIR. c. N. BISHOP DEAD!
Tells Old Town Merchants
That the State is Solvent
and Flourishing.

AT the nineteenth annual banquet Of
the Oldtown Merchants and ManufactI
urers Association, held last Monday
night in Baltimore at the Hotel Carroll,
ton. Governor Smith, in responding M
the toast. 1.-The State of Maryland,
said in part:
As business men, you naturally want
to know if the State is solvent. 1t fills
me with pride and pleasure to inform
you that. could the State compel the
presentation to day of her outstanding
debts not yet due, every single copper
owed by her might be paid from her
present assets. Notwithstanding exceed.
ingly liberal appropria iors
The State has recently built new
penitentiary. and is at present erecting
three new public buildings at Annapolis,
which may tend to make service in the
Maryland Legislature more desirable in
the estimation of your people. The
State is also making extensive additions
to the House of Correction, the Mary
land Agricultural College. and is i'm
proving the condition and facilities of
the State Hospitals for the Insane and
the School for the Feeble Minded Two
new armories are being built for the
State malitia, and in addition to what
have enumerated the State continues
uninterruptedly the usual aid to benevo-
lent, reformatory and educational instr
tutions.
The State tax rate is lower than at
any time since the Civil War. and the 3
per cent. State bonds sell at handsome
premium.
Up to a short time ago one of the
most valuable of the States assets-the
instrument securing to the State the
payment by the Northern Central Rail-
way Company perpetual, irredeemable
annuity of 500. .000-was the subject of
litigation and therefore of undetermined
value. This litigation resulted in the
uniform success of the State in the
courts. The face value of this security
is 81 800. 900, but the effect of the final
decision of the courts is to increase its
market value, which is IN excess of 49,
600. 900.
hope and believe. that before the ex-
piration of my term of office, the exist
ing claims of the State against the
Washington branch of the Baltimore
and Ohio road for dividends earned on
the stock owned by the State. and which
have been withheld from the stockhold.
ers and diverted by the management of
the road. will be equitably and fairly
adjusted.
The time has come in Maryland when
there can scarcely be conceived suffi-
cient reason why any reasonably intelli-
gent child should remain iii ignorance
The State has most excellent public
school system, and i'll many respects we
are far in advance of our sister States,
notably in liberty and completeness of
the provision made for manual training.
The State furnishes to children attend
ing the public schools heat. tuition and
school supplies of all kinds. and abso-
lutely free of cost to the pupils or their
parents.
Oldtown has always exercised an i'm
portant influence i'll the affairs of the
State. and her people have always been
an especially helpful and potent infiu-
ence i'll our commercial success. This
was true of the past. We see it now.
Yours is the great oyster market of the
State. In your section is centered the
bulk of trade in weod and lumber. exer.
cising an influence which effects results
in the backwoods hundreds of miles
away. Your people make the reputation
of the State for the quantity aud excel.
ence in the manufacture of clothing In
the canning industry, which is growing
so rapidly in Importance in our State,
you are among the first. You handle a
large share of the cotton and tobacco
brought here. and from the foundation
of the city your section has been the
headquarters for the foreign and coast
wise trade.