iv REPORT OF THE

of the Susquehanna and Tide Water Canal Companies to-
pay the installment of interest due on the mortgage to
the State, 1st July, 1877. A large deficit has accrued
also to the revenue from licenses to Foreign Insurance
Companies during the last two years, owing to the pas-
sage of the Act of 1876, Chapter 248 ; by the operation
of which law, two-thirds of the revenue from this source
has been cut off. The loss to the Treasury from the failure
of these three items of revenue amounts at this time to
upwards of $260,000, and the deficiency must be provided
for by the present Legislature, or the balance in the Treasury
at the end of the present fiscal year will be entirely insuffi-
cient to meet the demands of the Treasury on the first of
October 1878.

DISBURSEMENTS.

The total disbursements from the Treasury during the
fiscal year amounted to $2,112,646 89. The following
classification will enable the General Assembly to see at a
glance the character of the expenditures :

Amount paid to Agricultural Societies in the Coun-
ties, and to the State Society.................——— Amount paid to Charitable Institutions..................... ' Harbor of Baltimore— Survey of . ......... ' Public Buildings— TobaccoWarebouse,	$ 6,500 00 92,474 09 5,000 00
State House and Normal School—— Public Debt, Interest on, $645,275 68 Public Debt, Redemp'n of, 221,176 35	67,607 66 866,462 04
Pensions........................................ -.. Reformatory Institutions. .................. " Special Appropriations.. ................... " Schools— Colleges and Academies...... " Expenses of State Government, includ-	84,060 00 102,326 94 15,281 45 626,122 75
ing Oyster Vessels........................	296,821 96
Total......................................................../...	$2,112,646 89

The expenditures Hie given in detail in statement "B'
with the laws authoriziog the same.

In addition to the above, there was expended for school
purposes the income of the "Free School Fund," amount-
ing to 121,270.87, and for the indigent blind $17,550.00.
There was also expended from the increment of the "Sinking
Fund" in the purchase of State stock for said fund, the sum
of $33,396.00.

After deducting the amount of $221,176.35 expended in
the redemption of the overdue debt of the State ia London,