X REPORT OF THE COMPTROLLER OF THE TREASURY.
ASSESSMENT AND LEVY OF 1904.

Statement "K" continues to show a marked increase in the
basis of assessment, amounting this year to $680,743,794, or an
increase of $7,406,495, while the increase in the levy from 17
cents to 221/2 cents on each $100, produces an increase of
$387,000.14, or the large sum of $1,531,673.54.

PUBLIC SCHOOL TAX.

The receipts and disbursements on account of this Fund are
shown in statement "L," the total receipts being $939,477.85,
which, together with the balance of $346,434.68 brought down
from the preceeding year, aggregates $1,285,912.53, or an
increase of $204,794.80. The disbursements are shown to be
$757,827.19, leaving the very large balance of $528,085.34 ap-
plicable to the school year commencing October 1, 1904. This
increase in revenue is manifest by virtue of the increased school
tax rate from 10 1/2 cents to 15 cents on each $100, which income
must be largely augmented, since this year's receipts represents
only the beginning of the benefits of the increased rate.

Heretofore, on October 1, January 1 and March 15, there has
been distributed among the counties and Baltimore city, the
sum of $125,000, to white schools and $37,000 to colored schools,
in addition to the usual amounts to the Normal schools and State
Board of Education, but last October, the amount on hand to
equalize future distribution being so large, I determined to give
the schools in this State the benefit of this money, rather than
retain the same in the Treasury until the last distribution, viz:
June 15, and therefore apportioned in October, the sum of
$200,000, and again on January 1, 1905, this distribution was
still further increased to $300,000. Whether this increase can
be maintained depends entirely upon future collections, but such
distribution is made with the full assurance that this revenue
will warrant a like distribution of $300,000 on March 15, next.

The last Legislature made one important change concerning
the distribution of this fund—Chapter 584. Heretofore this
revenue was distributed at each quarterly apportionment, separ-
ately to the white and colored schools, $150,000 to the latter,
while the white schools received the difference between this sum
and whatever sum came into the Treasury from this tax. Said
statute provides, however, that "the Comptroller shall not appor-