xii REPORT OF THE COMPTROLLER OF THE TREASURY.

Of this sum, $800,000 remains to be issued on July 1, next, and
represents the remainder of the Public Buildings Loan. The
above bonded debt does not represent by $400,000 the total cost to
the State of several of the institutions therein mentioned, notably
Maryland Penitentiary and Springfield State Hospital, since ap-
propriations directly from the Treasury to this extent were
made.

While I share with you, as well as every other citizen, a just
pride in the public institutions of this State, for they are among
its most valued assets, yet due care should be taken lest we allow
State pride to lead us beyond our actual needs and the limit of
conservatism. As we increase and enlarge our public institu-
tions, we of necessity increase the cost of their maintenance, and
unless a limit is placed, such maintenance must be either helped
by a direct tax or the Treasury relieved of the burdens of some
of its other appropriations.

I desire to acknowledge the assistance and courtesy I have
received from Hon. Joshua W. Hering, my predecessor in office,
and from Hon. Murray Vandiver, State Treasurer, whose famil-
iarity with the intricate duties of the Treasury Department has
very much lightened my own. To them, and the several clerks in
my department, is most graciously shared whatever measure of
worth may be herein found.

Respectfully submitted,

GORDON T. ATKINSON,

Comptroller of the Treasury.