COMPTROLLER OF THE TREASURY. VII

and Franklin Bank of Baltimore, were appropriated to the
payment of tho interest on the public debt, and that
Act further directs that $34,069.36 yearly, of the revenue
to accrue to the State from the Baltimore and Washington
Road, be substituted for the interest on said sums, after
deducting one thousand dollars per annum for the instruction
of the Indigent Blind.

Under the terms of the Act making this substitution, I
have always regarded the amount clue annually to this fund,
to be payable out of any revenue which might accrue to the
Treasury from the Washington Branch Road, whether in the
shape of dividends or under the contract for one-fifth, of the
receipts from passengers, but as during the last fiscal year:
no revenue has been received from the Company on either of
these accounts, no resource has been left to the Treasury out
of which the substitution could be legally made. Provision
should therefore be made for supplying the means from some
other source, not only for future years, but for the past
fiscal year, unless in tho meantime, revenue should be received
from the Washington Branch Road, out of which the same
can be paid.

The disbnrsements from this fund, daring the fiscal year,
have been to the Free Public Schools in the several counties
and the City of Baltimore, $21,2'70.87; to the Indigent Blind
$17,580.00, and for the reinvestment of the principal sum
derived from the payment of the York and Cumberland
bonds, $60,500.00, making an aggregate of disbursements of
$99,320.87, leaving a balance to the credit of the fund
for the Indigent Blind of $11,445.47.

The amount received by the Treasurer from the York and
Cumberland bonds, was invested by him in the overdue storl-
ing bonds of the State, and said bonds were afterwards ex-
changed by him with the Board of Public Works, for an
equal amount of the preferred stock of the State in the Bal-
timore and Ohio Railroad Company.

The various investments of the Free School Fund are given
in detail in statement "F," with the amount of each.

The receipts of income to the sinking fund during tho year
were $5,733.69, which, added to the balance to the credit of