COMPTROLLER OF THE TREASURY. vii

DISBURSEMENTS.

The total disbursements during the fiscal year, amounted to-
$2,287,038.36,being less than the total expenditures for the year 1872,
by the sum of $63,615.70. Of these disbursements, the sum of $453,-
296.02 was expended in the redemption of the debt of the State, and
$152,500 were devoted to the payment of the State's subscription
to the stock of Railroad Companies in Charles and St. Mary's coun-
ties, under the Act of 1868, Chapter 454, leaving the amount ex-
pended for ordinary purposes, to be $1,681,242.34. The different
items of expenditure, and the Acts authorizing the same, are stated
fully in statement "B." The balance in the Treasury at the end of"
the fiscal year 1873, was $484,810.22. There is also the sum of
$14,220,08 to the credit of the "School Fund," and the sum of $66,-
579.28, belonging to the "Sinking Fund,' which is applicable only
to the redemption of the Public Debt of the State.

ESTIMATES.

The probable receipts into the Treasury, during the current fiscal
year, calculated under existing laws, if made effective, are estimated
in statement "C," at $2,005,489.28, which, if realized and added to-
$484,810.22, the balance in the Treasury at the end of the fiscal
year, will make the total amount in the Treasury, during the fiscal
year 1874, to be $2,490,299.50. The estimate of expenditures for-
the same period, based upon existing laws, making appropriations;
and upon the presumption that wise, economical and prudent legis-
lation only, will be enacted at the coming session, are put down in
statement "D" at $1,916,527.25. These estimates show the proba-
ble balance in the Treasury at the end of the current fiscal year to be

$573,772.25.

FREE SCHOOL FUND.

Statement "E'' exhibits the condition of the Free School Fund at
the close of the fiscal year. Tbe receipts on account of the Free
School Fund during the fiscal year, have been $75,572.84, which
added to the balance remaining to the credit of the said fund at the-
close of the fiscal year 1872, make an aggregate of $83,196.81. Tbe
disbursements during the same period, amounted to the sum of $68,-
976.73, leaving a balance to the credit of the Free Scbool Fund as
of 30th September, 1873, of $14,220.08.

The Sinking Fund now amounts to $66,579.28 wbich is in cash,
applicable to the redemption of the Public Debt. Statement "F"
shows the various securities in wbich the different "Free Scbool
Funds'' are invested, amounting in the aggregate, to the sum of
$314,010.16, including $10,770.47, the amount of the fund for the
indigent blind.