vi REPORT OF THE COMPTROLLER OF THE TREASURY.

the preceding year by $5,918.34. The expenditures during
the year have been in the aggregate $73,645.81, which ex-
ceed those of the preceding year by $2,689.90. In these
expenditures is included the sum of $2,726.68 for building
two new schooners. The amount standing to the credit
of this Fund at the close of the fiscal year, 1891, was
$79,720.76.

STATE DEBT.

The total indebtedness of the State, as is shown in de-
tail in '' Statement J,'' was at the close of the fiscal year,
1891, $10,721,642.52, an increase of $30,518.07 over that
of the previous year. This increase is only temporary, as
the amount of the "Exchange Loan of 1891," issued at
the close of the year, was that much greater than the
amount exchanged and redeemed of the old loans, for the
exchange and redemption of which this new loan is being
issued. Deduced from the gross debt the productive stocks
held by the State, and the cash and stocks held by the
Sinking Fund, and the net debt will be $3,876,046.88, a
decrease of $536,170.77 since last year.

ASSESSMENT OF REAL AND PERSONAL PROPERTY.

" Statement K" shows the assessment of the real and
personal property in the several counties and city of Balti-
more for the fiscal year, 1891, the aggregate of which
is $510,003.077, being greater than that of 1890 by
$27,818,253.

The levy for State taxes for 1891 on the real and per-
sonal property of the State, at 17 3/4 cents on each hundred
dollars amounted to $905,253.50.

PUBLIC SCHOOL TAX.

The State levy for Public Schools for the fiscal year,
1891, is shown in detail in " Statement L," amounting in
the aggregate to $535,503.25

The receipts of School Tax for the year 1891 amounted
to $576,350.64, an increase over that of 1890 of $8,418.36.

The disbursements of the School Tax for the same
period amounted to $607,205, an increase over that of 1890
of $5,217.99.

It is gratifying to state that this is the largest amount
ever disbursed in any one year for the support of the'
Public Schools.

LICENSES, ETC.

'' Table No.I '' gives the receipts of revenue from
various licenses mentioned therein, interest and excess of