vii

In the year 1853 the Direct Tax was reduced from 25 cts.
to 15 cts. on the $100, and in 1856 it was still further reduced
5 cts. on the $100.

"THE FUNDS."

A Report of the Free School Fund and the Sinking Fund
will he,seen hy reference to STATEMENT E.

On the 30th of September, 1858, there remained in the
Treasury to the credit of the Free School Fund the sum of
$23,867.78, and there was received during the fiscal year for
the use of the same from the 20 cts. Bank .tar, $24,611.49; from
dividends of Bank stock, standing to the credit of the Treasu-
rer, $11,055,40; from State 6 per cent. Stock, $530.16; from
surplus revenue, $34,069.36; from the investment for the
use of Common Schools, made under the Act of 1858, chap,
295, $10,413.54, amounting to $80,679,96, and with the
balance, making an aggregate of $104,547.73; and the dis-
bursements for the same period were $80,119.86; leaving in
the Treasury on the 30th of September last, to the credit of
the Fund, the sum of $24,427.87.

It is much to he regretted that Maryland has no thorough
satisfactory system of Common Schools. Eminent in many re-
spects, her financial faith unquestioned, her credit established
upon an impregnable basis, yet, in this regard, she is greatly
excelled by many .of her sister States. Surely it is not neces-
sary at this day to discuss the invaluable blessing of a well
regulated Primary School—he must have lived to little pur-
pose who fails to appreciate it—and he must be dead to the
noblest feelings of his kind who would not lend his earnest
endeavors to perfect its usefulness.

An education of the right sort unfits for no station in life,
and its beneficial effects are written in letters of light every,
where around us. All acknowledge the truth of this; and
the State is without a proper system, not because the people
are opposed to Free Schools, on the contrary the popular
voice is unmistakably for them; but, because the representa-
tives of the people have been unwilling to cast aside indi-