vi

The total increase upon the assessment of 1856 is small,
being only $342,429.00. In Baltimore City there is a de-
crease, as compared with the preceding year, of $2,803,987.

DIRECT TAXES.,

TABLE No. 1, of the Appendix, upon examination will
show that the receipts for Direct Taxes, in the fiscal year,
were $233,303.02, of which, $91,513.20 accrued in 1857, and
$141.789.82 were paid on account of taxes which accrued in
previous years.

By a comparison of the receipts, as exhibited in this Table,
with the receipts on the same account for the preceding year,
they will be found less than those of 1856, by the sum of
$37,291.40, of which diminution $23,588.48 appears in the
receipts of Direct Tax accrued in 1857, and $73,702.92 in
those on account of Tax which accrued prior to that year.

This result may be attributed in some measure to the re-
duction made in 1856, the full force and effect of which could
not be experienced until the succeeding year; a considerable
portion of the receipts in 1856, being at the rate of J 5 cents
in $100.00. It is apparent, also, as has been already re-
marked, that the Direct Taxes in arrears at the higher per
cent, existing before the several reductions were made, are
rapidly diminishing, and the receipts, on this account, for
former years, are in like manner lessened.

The decrease in the receipts from Direct Tax which ac-
crued in 1857, is doubtless owing to the financial difficulties,
in which the entire country has, to a greater or less extent,
during the past year unfortunately been involved. It is a
gratifying consciousness however, that this financial derange-
ment has not in the slightest degree impaired, or even em-
barrassed, the credit of Maryland ; and, with the exercise of
ordinary prudence, it may be safely assumed, that her faith
is unassailable.

In the Comptroller's Report to the Governor for the pre-
ceding fiscal year, it was stated that the Legislature, at its
session in 1856, had exempted several Mutual Insurance