COMPTROLLER OF THE TREASURY. 15

fused to pay the taxes on their shares of stock, so that a
large amount of principal and interest is now due from
that source. The taxes on these shares, are assessed by
mere operation of law, and all that is necessary for this
department, under existing law, is to ascertain the num-
ber of shares and their cash value, in order to state
the account. I propose to recommend in my next An-
nual Report, which will be made to the Legislature, such
additional enactments, as in my judgment will serve to
remedy the defects in the laws upon this subject.

TOBACCO INSPECTIONS.

Table No. 8 exhibits the receipts and disbursements on
account of the State Tobacco Inspections. Some of the
provisions of the laws, in regard to these Inspections, re-
quire material amendment.

FOREIGN INSURANCE COMPANIES.

Table No. 13 shows the receipts into the Treasury from
licenses to agents of Foreign Insurance Companies, amount-
ing to $33,900—a small increase over the amount received
from the same source in the preceding year. The laws in
reference to these Companies and the subject of Insurance
generally, require revision and reduction into system. The
legislation on the subject of these Companies has a two-fold
object—to raise revenue,, and to protect the citizens of the
State from imposition by fraudulent or irresponsible Com-
panies ; the latter is perhaps the more important object to
be attained. I intend to propose to the next Legislature,
some amendments, to the laws on the subject of Insurance,
which, I think, will be salutary in their effect.

DOMESTIC INSURANCE COMPANIES
In conformity with the Act of 1870, chapter 257., I have
established a form of the return, and forwarded a copy to each
of the Domestic Insurance Companies in the State, of