REPORT OF THE COMPTROLLER OF THE TREASURY ix

ter to invest this large sum of money within a short period, but
I am glad to state that nearly the whole sum has already been
invested in the State's own securities, and before my term of of-
fice shall have expired, I trust and believe the entire amount
will be invested. It is a matter of pride for me to state, that of
this list of securities of over $6,000,000, every one is in the State
of 'Maryland bonds, save and except $308,000, and those are in
county and municipal bonds of this State.

I desire further to state, that during my incumbency of office,
every dollar levied and collected for these funds has been car-
ried to their credit, and not only so carried, but invested in our
State's own bonds, save and except as above mentioned the small
amount now awaiting investment so soon as the securities may
be obtained, which I trust may be done before I shall have re-
tired from office.

DISCOUNT ON STATE TAXES.

The discount allowed in the payment of State taxes during
the past year, aggregated in round figures $125,000. This sum
represents of course the premiums allowed for the payment of
such taxes before the dates mentioned in the present law. In my
judgment, all discounts on State taxes should be repealed. I
am well aware that the present system of allowing such dis-
counts tends toward the prompt payment of such revenue by
those persons or corporations financially able to make the same.
Nevertheless if the law were amended, repealing those pro-
visions and enacting in lieu thereof a provision fixing a given
date for the payment of all State taxes, after which time all such
taxes should bear interest, I am of the opinion that equal
promptness would be had in the collections. While it is true
this additional revenue would not accrue to the benefit of the
general treasury, yet it would increase the receipts for public
schools, loans and road maintenance to this extent.

I am further of the opinion that the collection of our State
taxes should be made uniform. As the law now stands, such
taxes are levied and collected throughout the State at as many
different times yearly as there are units in the collection system,
from January to October. This condition should not exist.