11,750

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Just let me give you one example. The State

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of Maryland sold its bonds on a 15-year maturity base.

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Washington County sold bonds with either a 20 or 25-year

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maturity basis. The State of Maryland had a tripe-A

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rating, Washington County got a lower rate the day before

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with a longer maturity. All this simply goes to prove is

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only one thing, and that is that the money market is not a

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stabilized thing. It goes up and it goes down, and many

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factors enter into the consideration of what you pay

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for interest.

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Now, I am one of those who like to believe you

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should try to get out of debt, but I believe the State

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should also bear in mind that it has services to perform.

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It has one particular service to perform, and that is

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for its people who may not all be in the same classification

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For example, there are counties in Maryland that

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are not so well off as other counties in Maryland. Some

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of us have been responsible for providing aid to these

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counties for the construction of schools, and for Baltimore

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City as well, but when the counties have to repay this money

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for the construction of schools where the state is doing the