XIV REPORT OF THE

tunity be afforded to the Philadelphia and Reading
Railroad Company to make proper settlement with the
State of Maryland.

THE CHESAPEAKE AND DELAWARE CANAL

is another Public Work in which the State has large
unproductive interests. The State's stock in this Canal
amounts to $81,250,00. This stock formerly yielded to
the Treasury a dividend, and I have hopes that the
State's interest in the work will prove before long to
be one of its Productive Investments.

THE ASSESSABLE BASIS.

The total assessable property in this State for the
State levy in the year 1885, is shown in "Statement K,"
to be $473,425,144, and shows an increase since the levy of
1884, of $3,858,911). Still it is $5,015,884 less than it was in
1877, the year after the last assessment was made. I can
but repeat what I said in my last report upon this sub-
ject: "That it must bo evident to everyone who has
any knowledge of the prosperity of this State, that there
has been a great increase of wealth since then (1877),
and that if every species of property subject to taxation
was included in the list that should comprise the assess-
able basis the total would be increased by many mil-
lions."

Baltimore City on this point, presents a striking il-
lustration. Its taxable basis in 1877, was $243,132,007.00.
Now, after a period of eight years, during which
time its citizens have invested millions in stores,
dwellings and other buildings, and at least one hundred
thousand persons have been added to its population,
its assessable basis shows a decrease of over
$11,000,000, as compared with the assessed value of
its property in 1877. Some Legislation upon this sub-
ject is necessary, in order to make all the property of the
State bear equally the burdens of government.

Whether it would be better to amend the present as-
sessment law, or to enact a new one, is a question
about which there may be some difference of opinion.