X

hundred and ten acres of land, being thirty thousand acres
for each Senator and Representative in this State in Congress.
The same was immediately deposited by me in the Farmers
Bank of Maryland, in this city, for safe keeping. There has
been no sales made of this scrip as yet, although numerous
applications have been received for its purchase. It has been
considered unwise to place it in the market in the present un-
settled condition of our national affairs, the prices offered
not being reasonable, or such as might be obtained under
another and different state of things.

I have estimated, according to Statements E, and D, the
receipts and disbursements for the fiscal year ending Septem-
ber 30th, 1865. The receipts, it is supposed, will amount to
$1,550,000.00, and will be exceeded by the disbursements in the
sum of five hundred and twenty-five thousand dollars. This
latter sum, however, is more than balanced by the amount
already in the Treasury, of $876,899.23, which deducted
from the estimated receipts, would leave in the Treasury at
the end of the fiscal year, for 1865, the sum of $351,899.33
The bounty fund as has been heretofore shewn, being
in arrear to the Treasury in the sum of $755,483.90, it
would be advisable either to order this amount to be placed
at once to the credit of the Sinking Fund, or to issue Bonds
therefore, as authorized under the act of 1864, chapter 15.

I would respectfully call the attention of your honorable
body to the necessity, at this time, of a general assessment of
the property of the State. There has been none since that
provided by the Act of 1852, ch. 337. The important changes
produced by the events of the past few years, must have so
materially affected the valuation of property of all kinds
in all parts of the State, that it is essential for an equalization
of the taxes, that the matter should be attended to at the
earliest practicable moment.

This Department has frequently experienced difficulties in
its settlement with the several Banks and Incorporated Insti-
tutions. I would suggest that they hereafter be placed on
the same footing as individuals in their accountability with
the State.

Their Annual Statements should be made under the oath
of the President and Treasurer, or other proper accounting