ix

which will prove an unfailing spring of blowings for ages to
come.

The operations of the Sinking Fund also appeal in State-
ment E.

On the 30th of September, 1858> there remained in the
Treasury uninvested surplus cash to the amount of $134,590.-

06. and there wag received during the fiscal year, 1869, from
various sources, principally State Stock held by the Fund;
$217,948.75, and of surplus revenue transferred, $140,598.-

07. making an aggregate of $493,136.87; all of which was
disbursed for the use of the said Fund, and consequently at
the end of the fiscal year there was nothing remaining in the
Treasury to its credit.

The character and amount of the stocks held by the Sink-
ing Fund as of the 30th of September, 1859, and also the
character and amount purchased for the use of the said Fund
will be found in Statement F of the Appendix. The increase
during the year amounted to $494,291.50, which was effected
by the disbursement of $493,136,87; and the Sinking Fund

on the 30th of September last, as appears in said Statement,
reached the sum of $4,582,976.22. The purchase of $154,-
550 of Baltimore City 6 per cent. Stock Was made by the
Treasurer, because he found it impossible at that time to ob-
tain State Stock in the market, arid he concluded to make the
investment sooner than to allow a large amount of. money to
remain idle in Bank, notwithstanding the Act of 1862 con-
templates the purchase of State Stock exclusively. It might
be well to amend the law in order to meet emergencies of this
character.

STATEMENT I furnishes a condensed account of the State's
Capital and Credits as of the 30th of September, 1859, the
aggregate of which is $23,317,892.77; of that amount $8,070,-
177.46 being rated as productive.

The Funded Debt of the State on the 30th of September,
1859, appears to have been $14,861,472.85, an account of
which will be found in STATEMENT J.
B