iv

remained to be collected, the Collectors of some of the
Counties having, at that time, but recently entered upon
their duties.

It will be noticed also, that the surplus in the Treasury,
September 30th, 1862, exclusive of that belonging to the
Sinking Fund and Schools Fund, amounted to nearly as
much as the whole of the direct tax, collected within the
year, notwithstanding the large and extraordinary payment
of the war tax to the General Government, and the large
amount of arrearages paid within that period.

The disbursements for the fiscal year ended September
30th, 1862, as will be seen by reference to Statement B of
the Appendix, amounted to the sum of $1,546,859.10, which
includes the payment to the General Government, of Mary-
land's proportion of the war tax for 1862, viz: $436,823.33,
less fifteen per cent, discount thereon, obtained by the
assumption by the State, and prompt payment of the tax,
leaving the nett sum paid, $371,299.83, and also includes
the payment of over $100,000 of arrearages of appro-
priations of former years, and includes the expenses of the
extra session of the Legislature of December 1861, and of
the regular session commencing January 1862, and their
appropriations, and leaving in the Treasury proper, as of
September 30th, 1862, a nett balance of $446,749.19, added
to which, is the balance of cash as of same date, to the credit
of the Sinking Fund, as per Statement E, of $132,399.38,
and the balance as of same date to the credit of the Free
School Fund, as per same statement, of $41,866.49, thus
making the whole balance at the credit of the General
Treasury, September 30th, 1862, $621,015.06, which re-
mained subject to future demands.

This exhibit of largely increased receipts, and of dis-
bursements actually diminished, in view of the fact, that a
considerable part of the disbursements were for arrearages
of former years and for extraordinary demands occurring
within the year, together with the large surplus remaining
on hand, and the inconsiderable sums for which the Trea-
sury remained liable at the close of the year, presents a
sound and healthful condition of the Treasury, and should