Finance which I appointed more than two years ago. This study has
been revised extensively by a legislative committee. The latest such
revision I received just one week ago today and even now I under-
stand that further modifications are being considered. Just recently
I stated as clearly as I knew how that I was not opposed to the ob-
jectives of the Cooper-Hughes plan but that I would insist on any
modifications that were necessary to protect the State's revenue posi-
tion. All of us by this time are fully aware of the importance and
necessity of providing a program of tax relief to the heavily burdened
property owners of this State. I would be my hope that you and I
together would work toward the end of providing such a program
of relief while at the same time protecting the fiscal integrity of the
State.

ECONOMIC CONDITIONS

Before I move into the area of specific provisions of the budget
and a general legislative program which I am recommending, I should
like to make a few observations about the economic condition of the
State. The general upsurge in the economy of our country, the longest
in all of history, continues undiminished, and Maryland has main-
tained its position in the vanguard of this movement. The population
of the State continues to increase. Although one of the smaller of the
States in area, Maryland has climbed to twentieth among the fifty
States in the number of inhabitants. There is every indication that
the growth will continue.

Our gross State product last year touched a new high of $12. 4
billion, a $600 million (or 5, 1 per cent) increase over the previous
year. Total personal income in 1965 reached $10, 733, 000, 000, a jump
of 9 per cent as compared with the national growth rate of 8 per
cent. The total civilian labor force reached 1, 319, 800, representing a
4. 3 per cent growth. Unemployment, at 3. 4 per cent during the first
ten months, was below the national average, and the low mark of
2. 6 per cent for October was the lowest since October, 1956.

These are but a few of the statistics which show a condition of vigor-
ous economic health, with Maryland ending its best year in a decade
and with the prospects for the year we have just begun bright indeed.
Having reviewed the broader aspects of the budget and some eco-
nomic factors that may influence our decisions there at this session,
I should like to turn now to what I consider some of the salient
points in the budget, the details of which you have before you.

45