REPORT OF THE COMPTROLLER OFTHE TREASURY. xiii
ASSESSMENT AND LEVY OP 1905.

The assessable basis of the State, $705,561,456, continues to
show a very healthy increase—$24,817,662. Of this increase
Baltimore City shows a gain of $20,539,991. When we consider
that the assessable basis of the State twenty years ago—1885—
was only $478,468,028, it will be readily seen how fast the State
has increased in material wealth and prosperity. This wealth,
however, as far as the State's revenues are concerned, is useable
only for the Public Schools, School Books, and the Sinking
Funds.

PUBLIC SCHOOLS AND FREE SCHOOL BOOKS.

Statements L and M show the receipts and disbursements on
account of these funds. There was distributed during the year
to the Public Schools of this State, the unprecedented sum of
$1,195,565.22, or a gain of 62 per cent., by far the largest amount
ever disbursed. During the year this fund has felt the full
operations of the law of 1904, Chapter 584, whereby the rate
was changed from 10 1/2 cents to 15 cents on each f 100. If this
rate remains it must necessarily produce more revenue, for as
the basis increases each year, so must the collections, not only
on account of such increase, but necessarily so from arrearages.
Therefore, we may readily expect to see this fund in the next
two years approach the million and one-quarter mark, provided
the present rate is maintained. There was disbursed during
the year on account of Free School Books the sum of $150,000,
although the tax of 1% cents produced but $127,832.33. The
amounts, therefore, distributed to Baltimore City and the
several counties from these two funds were $1,345,565.22, the
taxes levied therefor being 16% cents, or within 14 of one cent
of the whole State tax for the years 1901, 1902 and 1903. In
addition to this, the State paid during the year just closed
$32,600 to Manual Training and Industrial Schools. $32,500 to
Academies and High Schools, all of which came out of the
general Treasury, while there was distributed on account of the
Free School Fund the sum of $48,566.49. In view of these facts,