viii

the total value is $16,754,976, showing an increase of more
than three hundred per cent., chiefly from the facilities for
the transportation of coal by the Canal.

It is true the Baltimore and Ohio Rail Road contributed
largely to this enhanced value of Western Maryland, hut not
equal to the Canal.

Maryland may well be proud of her system of "Public
Works," and the liberal aid she has extended to them.

Almost every county has a rail road constructed or in
progress, and ere half a score of years has elapsed, these
great arteries of wealth and commerce, penetrating every
section, will be counted by thousands instead of hundreds of
miles.

These will constitute the proudest monument that can be
erected and the richest gift she can bestow.

THE PUBLIC DEBT.

The net "Funded Debt" of the State, as shown by Statement
"K," upon which interest is to be provided, is $7,614,413.43.
The total "Funded Debt" is $10,891,802.32, but the
"Baltimore and Ohio Rail Road Company," which formerly
paid the interest in London upon that portion of the five per
cent. Sterling Debt created for their use, now pay the interest
at the rate of six per cent, on $3,000,000 directly into the
Treasury.

By adding the stock held for, and the cash due the " Sink-
ing Fund," amounting to $1,529,379.44, to the State's
"productive" and "unproductive" capital, it will be seen
that her resources are ample as an offset to the " Funded
Debt."

THE NEW ASSESSMENT.

Statement "J" exhibits the assessment of the State by
counties and districts of Baltimore City, making a total value
of property of all kinds in 1866, as amended by Act of 1867,
of $492,653.472.

The assessment of 1852 exhibits $280,501.474, being an
increase of $212,151,998. If the value of slave property
destroyed by the Avar be added to this, it would make an
increase of nearly fifty per cent, on the assessment of 1852.