X -

sued under Chap. 15 of 1864,) as authorized by Sec. 3, Art.
XII., Constitution of 1867, in the sura of $1,103,401.94. By
this decrease, however, there is a corresponding reduction of
the State's productive assets. It will be seen from these state-
ments, that the State, by a judicious disposition of her assets,
could liquidate her entire indebtedness, and have a large sur-
plus in the Treasury.

ASSESSMENT AND LEVY.,

Statement "K" exhibits the assessed value of property in
the several counties and the city of Baltimore; also the levy
of 1868.

The amendment of 1868, Chap. 126, to the Assessment Acts
of 1866 and 1867, reduces the value of the assessed property
of the State from $492,653.472, to $464,148 046; a difference
of $28,505.426. It is presumed there will be no further leg-
islation on this Assessment, and that the present will be the
basis on which the taxes of the State will be levied, until
there shall be another general Assessment ordered.

The total levy for State purposes is nineteen cents on the
one hundred dollars, amounting to $881,880.29.

PUBLIC SCHOOLS.

Statement "L" shows the levy, receipts and disbursements
on account of ''Public School Tax," as authorized by Chapts.
160 of 1865, and 407 of 1868, for the years 1865, 1866, 1867
and 1868, to the 30th September, 1868.

The balance in the Treasury at the close of the Fiscal Year
to the credit of Public Schools, was $204,804.94, of which
sum $115,953.66, has since been disbursed to the counties
and Baltimore city.

BOUNTY.

Statement "M" shows that the sum of $859,151.22, has
been expended in the payment of Bounties during the last
Fiscal Year.