REPORT OF THE COMPTROLLER OF THE TREASURY. vii

The Maryland Penitentiary shows a substantial increase, turning
into the State Treasury the sum of $36,492.07, as the net earnings for
the fiscal year. This institution is a subject for congratulation by
every tax payer of this State. Every expense incidental to its oper-
ation, including salaries, is borne out of its own earnings and yet it
turned into the State Treasury last year the above sum of $36,492.07.

DISBURSEMENTS.

The expenditures of the State are shown in detail in Statement
"B," together with the Acts of Assembly authorizing payment of the
same. These disbursements are shown to be $4,516,828.77, exceeding
even that of last year by $54,127.35, which up to that time was unpre-
cedented, yet leaving a balance in the Treasury proper of $1,529,-
513.08, a sum greater than that of the year previous, so that' while
our disbursements have been large, yet our revenues have increased
and been sufficient to maintain them.

These heavy payments are incidental, however, to a greater or less
degree by reason of the Legislative year, which means the cost of the
Legislature and the special appropriations enacted. Other large dis-
bursements were made on account of the Public Schools, Public
Buildings Loan and Public Highways.

FREE SCHOOL FUND.

In Statement "E" is shown the detailed receipts and disburse-
ments on account of this Fund. The receipts for the year, together
with the balance on hand at the close of the last fiscal year of $8,508,
aggregate $83,420.64, while the disbursements are shown to be $73,-
680.14,. leaving a balance on hand of $9,740.50, or a slight increase
over that of last year.

SINKING FUNDS.

In Statements "E" and "F" you will find in detail the several
transactions of these funds. Notwithstanding the heavy demands
upon the Treasury during the fiscal year, the Treasury officials were
enabled to not only carry a sufficient sum to the credit of these funds