COMPTROLLE OF THE TREASURY. xix

missioners of the counties in which they are.situate. I then
caused the necessary forms for the assessment to be furnished,
together with forms for the accounts for said taxes, made out ac-
cording to the terms of the Act, against the said stockholders, and
caused proceedings to be actively taken in the City of Baltimore,
under the direction of the counsel selected for that purpose, who in-
stituted the necessary legal proceedings to enforce (he payment of
said taxes. Propositions were subsequently made by sonic of the
said Banks to compromise the claims of the State against their
stockholders, under the 9th Section of said Act. After the considera-
tion of the various propositions, by the counsel and myself, an
agreement was finally arrived at, by which the Banks stipulated to
pay directly into the Treasury for all of their stockholders, fifty per
centum of the amounts charged against such stockholders, without
any abatements for transferred stock, or without raising any ques-
tions of ownership in regard to any of the shares of said stock.
Settlements were accordingly made with said Banks on this basis,
and the several amounts paid into the Treasury. When I consider
that in inaugurating the measures under which these recoveries
have been made, I was sustained by a very small portion of the
legal talent of the State, and when I recall to mind the difficulties
which I encountered in procuring the passage of the bills through
the Legislature, I cannot but feel a sincere gratification that the
whole matter has been brought to so satisfactory a result, and hope
that it will receive the approval of the General Assembly.

TAXATION OF RAIL ROAD COMPANIES.

I indulge the hope that at no very distant day, I shall be able to
report a satisfactory arrangement with the Rail Road Companies,
by which those large interests Will also contribute their proper share
towards the support of the Government to which they look for pro-
tection to their vast interests, and from which they have derived
their corporate existence and their many privileges. I have always
contended, that under the restriction upon the powers of the Legis-
lature, contained in the 15th (formerly the 13th) article of the De-
claration of Bights, the power is denied to the General Assembly
to make privileged classes in the State, so far as the question of
taxation is concerned. That article declares that "every person iu
the State or person holding property therein, ought to contribute his
proportion of public taxes for the support of the Government, ac-
cording to bis actual worth in real or personal property."