COMPTROLER OF THE TREASURY XV

tected" at a cost to this State of from ten to twelve thousand

dollars per annum.

This imbedded wealth ought to be, and can be made a
source of large revenue to the State that owns it. Protection
to the oyster beds of the tributaries to the bay against dredging
after a fair and patient and expensive trial has proven to be a
failure. Tribute from the oyster should be the next demand

of the State. The oyster navy should be reconstructed so as
to ensure to the State a licence for every dredge or scoop that
is used in her waters ; and those who use them should be ,
required and made to pay a remunerative sum for the

privilege, under a heavy penalty for dredging or scooping
for oysters without a licence. Sloops are inefficient for either
protection, or for this service. A steamer, or steamers if need
be, fleet and well equipped, are necessary to this end and ob-
ject ; without them vessels from other States and foreign
fleets would dredge and scoop with impunity and without
license. Remunerative license, heavy penalties, unrestricted
waters to licensed dredgers and scoopers, and aa efficient
navy to prevent dredging or scooping without license, with
the incidental protection to the tongsmen which such a navy
could afford, are features of an oyster license law, to which
I respectfully invite the favorable attention of this Legis-
lature.

The receipts into the Treasury during the fiscal year will
be found in "Statement A."

The disbursements are set forth in "Statement B."

The probable receipts and disbursements .during the pre-
sent fiscal year are estimated in "Statements C and D," and
it will be seen that they run very close together.

The Baltimore and Fredericktown Turnpike Company and
the Baltimore and Yorktown Turnpike Company have set-\
tied their arrearages of dividends on stock owned by the-State
since the printing of the statement of probable receipts and
are classed among the productive securities in "Statement I."

The funded debts of the State and the amount of each class
and the time when each becomes due will be found in "State-
dent J."