cheering to every citizen of Maryland, after be-
ing so heavy pressed down by taxation, to learn
from the proper source, that there is a prospect,
and at no distant day, of being entirely relieved
from those burdens, and with a sufficient revenue,
without taxation, to meet all future proper de-
mands upon the treasury?
The gentleman from Frederick, (Mr. Thomas)
as also the distinguished gentleman from Cecil,
(Mr. McLane,) doubt: the realization of the ex-
tinguishment of the State debt within the period
anticipated, and have expressed their distrust
in the estimate of receipts from the sources from
which it is to be effected.
If the message of a Governor, in relation to
the finances of the State, is calculated to pro-
duce an inflated tendency in the stock market,
how much depression may-be produced by the
expression of the desponding remarks of those
two distinguished gentlemen who have filled so
many high and honorable stations?
But Mr. J., said, he did not apprehend any
injury to the credit of the State, as long as the
present system of revenue was adhered to, and
the treasurer's reports continued to present such
favorable results.
Mr, THOMAS said that those who did not know
him intimately, might have supposed that the
gentleman from Charles, (Mr. Jenifer,) was
about to present something from the message of
which he had read a part variant materially from
opinions, Mr T. had expressed here to-day.
But of that he had felt no apprehensions not.
withstanding the trouble the gentleman had taken
to look over these old documents.
There was nothing in that message inconsis-
tent, in any degree, with what he had now said.
To construe rightly the paragraph that had been
read, it would be proper to read also other parts of
that document, and parts of the two messages from
the same department of our State government,
for the years 184-2 and 1843. Those messages
all contained paragraphs earnestly urging the
legislature, to provide the means to maintain the
faith of the State. And the paragraph read by
the gentleman, rightly construed, gave one of
the strongest reasons that could be addressed to
those who were anxious to maintain unsullied
the public faith. The paragraph the gentleman
had read, was equivalent to the declaration that
if energetic measures for that object, were not
promptly adopted, there might be reason to ap-
prehend that the public mind would receive the
impression, that the Legislature had not the
courage to do its duty. And in that event the
desire to repudiate might become too strong to
be controled. This was the obvious meaning of
that part of the message, which had been read to
the House, when taken in connection with other
parts of the same paper, and with the two pre-
ceding messages.
He was surprised to find that the gentleman had
searched for t is message to see whether there
was anything in it incompatible with the opinion-
expressed to Gov. Grason, in the letter that had
been alluded to. The letter was written when
he, (Mr. T.,) could not foresee that. any portion
of the people of Maryland, would concur with

him in the opinions therein expressed. The mes-
sage was published after the system of taxation
had been sanctioned by the Legislature. It was
not to bepresumed, that he would when sur-
rounded, as chief magistrate, by hosts of friends,
shrink from advocating a policy which the
Governor of the State had repeatedly urged, and
the people had sanctioned. When it was very
certain that he, in his retired office in Washing-
ton, had boldly set his face against the financial
policy that avoided all resorts to taxation in any
event.
Being up. Mr. T. said he would briefly reply
to the closing remarks of the gentleman from
Kent. That gentleman had appealed to the re-
presentatives of the agricultural interests, to
rally against the proposed power in the Legisla-
ture to reduce, if it becomes necessary, our
State taxes. He knew the influence of that gen-
tleman over the judgments of many members on
this floor. But he did not anticipate that this ap-
peal could have much effect on any portion of
this Convention. The gentleman knows—this
Convention know—that the legislative power of
the State is in the hands of those who are chosen
by the agriculturalists. The commercial inter-
ests of Baltimore, have but five members of a
House of Delegates composed of eighty-two
members. The same interest has but one mem-
be in the Senate; and yet the gentleman would
have us to withhold from the Legislature, the
power to reduce taxes in a certain contingency,
under the apprehension that in making such reductions,
the interests of Baltimore would alone
be consisted.
Mr. BROWN said, he had no fear that any gen-
tleman would attribute to him a disposition not
to pay the State debt and interest. It was suffi-
cient for him to say, that his name would be
found recorded in favor of every proposition, for
a tax, the object of which was to maintain the
faith of the State. But the amendment of the
gentleman from Worcester, [Mr. Jacobs] would
prevent the Legislature from taking off any of
the taxes, until the debt and interest were both
paid.
Mr, JACOBS interposed and explained that such
was not the effect of his proposition, as he had
excepted the modification of the gentleman from
Anne Arundel, (Mr. Dorsey.)
Mr. BROWN was not aware, he said, that the
gentleman had accepted the modification.
When the question of the State debt and finan-
ces had sprung up. be (Mr. B.,) had gone to the
State Treasurer, for information, upon two points
—first, as to the times when the debt of the State
would fall due—and secondly, at what price he
had purchased the last bonds, from the moneys
in the sinking fund. He (Mr. B.,) found that
the price at which the purchase had been made,
was one hundred and two and half.
Mr. B, then proceeded to argue that the inevi-
table result of the accumulation of a large sink-
ing fund, would be to enhance the price, of the
bonds, and that the result of prohibiting the Le-
gislature from reducing taxes, would be to tax
the people of Maryland for the benefit of the
bond holders. The greater the surplus and the