IX

OYSTERS.

Statement "H" exhibits the entire receipts and disburse-
ments on account of the "Oyster Fund." since the passage of
Chap. 333 of 1864, and the amendments thereto, showing the
balance standing to the credit of this Fund to be $123,294.93.

Chapter 406, of 1868, provides for arming and equipping
a "Police Force," to be constantly cruising in the waters of
the State for the protection of this interest. Under this Act
an "Iron Steamer" has been contracted for, is in pro-
cess of construction, and should long since, have been com-
pleted. The Commander of the Force has labored under
great disadvantages, but is sanguine of success when afloat in
the steamer, belonging to the State. It is an experiment, the
utility of which, time alone can solve. The law is imperfect,
and future Legislatures will find it necessary to amend it in
many particulars. I confess that I have little faith in the
success of the enterprise, believing the expenses will absorb
all the receipts.

PUBLIC DEBT AND STATE'S CAPITAL
AND CREDITS.

Statement " J'' exhibits the aggregate of Loans upon which

interest has to be provided which amount is $11,712,190.45;

and Statement "I" exhibits the various assets of the State,

to wit:

Stocks and Bonds of various companies upon which interest
and dividends are paid..................... $5,558,970 00

Unproductive Stocks and Bonds............... 19,088,219 90

Indebtedness of Corporations, and Account-

ing Officers.................................... 1,513,706 36

To which add the amount due the "Sink-
ing Fund."................................... 1,591,509 71

Total assets as an off-set to the debt......... $27,752,405 97

This debt has been increased within the last Fiscal Year
by the sale of the bonds of the "Defence Loan" under Chap.
235 of 1868, in the sum of $1,924,913.07, and decreased by
the exchange effected with the Baltimore and Ohio Rail Road
Company, of the Bonds of said Company held by the State—
for an equal amount of the bonds of this State held by said
Company, (including $385,800.00 of the "Defence Loan" is-