REPORT OF THE COMPTROLLER OF THE TREASURY. vii

DISBURSEMENTS.

You will find in detail in statement "B" the character of
disbursements and the acts authorizing the same, aggregating
$3,480.534.26, being $169,189.81 less than that of the previous,
year, notwithstanding the fact of the payment of the expenses
of the General Assembly of 1900, and the special appropria-
tions made thereby. This decrease, however, is largely ac-
counted for by the fact that during the fiscal year 1899 there
was paid to the "Consolidated Loan of 1899," $522.579.14, being
the proceeds of the bonds issued, while during the present fiscal
year the payment to this account and the "State Building and
Improvement Loan" aggregated $317,640.07, making a differ-
ence of $204.939.07.

ESTIMATES.

Statement " C " shows the probable receipts into the Treas-
ury during the fiscal year 1901 of $3,133,978 30, which, if
added to the balance in the Treasury proper September 30,
1900, of $849,885.16, would aggregate $3,983,863.46.. The
probable disbursements during the same period aggregate, as
shown by statement " D, " $3,214,509.78, leaving an estimated
balance in the Treasury "proper September 30, 1901, of
$769,353-68.

FREE SCHOOL FUND.

Statement " E" shows in detail the receipts and disburse-
ments of this fund at the close of the fiscal year, the former
aggregating $97,873.55, while the disbursements are shown to
be $91,546.75, leaving a balance on hand of $6,326.80. The
condition of this fund is much improved by the fact that during
the fiscal year the large cash balance heretofore carried to the
credit of this fund has been invested and now returns a safe
revenue. There was purchased during the fiscal year, for the
use of the Common Free School Fund, $15,488.00 in the
"Consolidated Loan of 1899," and for the use of schools in
the counties of Carroll, Frederick and Washington. $9,125.00
in the same security. This latter sum was paid into the