xviii REPORT OF THE COMPTROLLER OF THE TREASURY.

ous condition of the State's finances. Our State securities are
eagerly sought after in the market, at the highest rates.

While the money of the people has been liberally expended by the
Legislature, for educational purposes; in improvements of various
kinds; in the crection of costly buildings ; in rendering assistance to
charitable enterprises, set on foot by associations of benevolent indi-
viduals for the melioration of the condition of the poor and afflicted,
as well as in the maintenance of similar institutions reared by the
State, the Treasury has been enabled to devote large amounts to the
reduction of the public debt. The state taxes have been materially re-
duced, and notwithstanding the universal depression in the business of
the country, the credit of the State is at the highest point.

If the governments of the country, National and State, can all be re-
stored to a constitutional basis. confidence re-established, and general
prosperity thereby induced, the financial condition of the State of
Maryland can hardly fail to keep pace with that of any other State in
the Union.

Respectfully submitted,
LEVIN WOOLFORD,

Comptroller of the Treasury.