Vl REPORT OF THE COMPTROLLER OF THE TREASURY.

Eliminating, therefore, these extraordinary revenues there is no
shrinkage in fact, but on the contrary the usual receipts- of the
Treasury have been more than maintained.

In order that you may know what are the revenues of the State
government, applicable to the ordinary running expenses thereof
I submit the following statement, eliminating the question of
balances, to wit:

Total receipts for the year................. $3,975,231 18

Less direct tax from Collectors............$1,289,953 01

Less direct tax from Incorporated Institutions 91,825 71

Less direct tax from Baltimore City Stock.. 35,158 12

Less Liquor Licenses, Baltimore City....... 448,813 43

Less Public Buildings Loan, Bonds sold... 59,000 00

Less State Tobacco Warehouses, Insurance. . 8,750 00

Less Oyster Fund Receipts................ 44,236 49

_________ 1,977 736 76

Total.............................................$1,997,494 42

a sum in excess of that of the year previous by $140,000 in round
figures. All the revenue and receipts in the above statement came
into the Treasury as specifically dedicated funds and not applicable
for the ordinary running expenses of the State government. This
sum of $1,997,494.42, or say, $2,000,000 for the fiscal year 1908,
exclusive of balance brought down, therefore, represents the amount
within which the appropriations, both standing and current, must
be made. Any increase over this sum must necessarily embarrass
the Treasury, unless other sources of revenue not now known be
found.

The most largely increased item of revenue will be found in that
of Tax on Gross Eeceipts of Corporations, and is largely due to the
operations of the law of 1906, Chapter 712, increasing the rate.
The revenue from this source has been as follows:

1903................................................. $297,466 34

1904................................................... 428,385 34

1905................................................... 462,286 21

1906................................................... 581,823 55

1907................................................ 678,675 87

While this revenue shows a large increase, and upon this princi-
pally the State has relied for payment of larger appropriations,
yet such increase has not kept pace with the demands upon the
Treasury.

DISBURSEMENTS.

In statement "B," you will find payments from the Treasury
proper aggregating $4,139,863.02. This statement also gives the
character of such payments, together with the Acts of Assembly