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heretofore payable out of the Treasury of this State,
yearly, as a donation to Prince Frederick Academy in
Calvert county, the Treasurer of the Western Shore shall
hereafter pay to or for the use of said academy, one hun-
dred and thirty-three dollars annually, and no more, and
that the said Treasurer is hereby directed to pay to or
for the use of Plumb Point academy in said county as a
donation to said institution the sum of one hundred and
thirty-three dollars annually hereafter; provided, that
neither of the above academies mentioned shall be enti-
tled to receive the donation directed to be paid to them
unless the president and trustees thereof shall annually
report to the Treasurer in manner and form required by
law.
No. 12.
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Passed Jan.
28, 1846.
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Preamble and Resolution in favor of repaying certain
Banks in the City of Baltimore taxes by them paid into
the State Treasury.
WHEREAS, By the act passed at March session, eigh-
teen hundred and forty-one, chapter twenty-three, enti-
tled, an act for the general valuation and assessment of
property in this State, and to provide a tax to pay the
debts of the State, a tax was imposed on the stocks or
shares of the banks of this State, as well those char-
tered previous to the year eighteen hundred and twenty-
one, as subsequently to that period; and whereas, by the
decision of the Supreme Court of the United States, pro-
nounced at its January term, eighteen hundred and forty-
five, the shares of slock in the following banks incorporat-
ed prior to the year eighteen hundred and twenty-one, were
declared exempt from taxation during the continuance of
their charters, to wit: the Union Bank of Maryland, the
Bank of Baltimore, the Mechanic's Bank of Baltimore,
the Commercial and Farmer's Bank of Baltimore, the
Marine Bank or Baltimore and the Farmer's and Mer-
chant's Bank of Baltimore; and whereas, by a decision of
the Court of Appeals of Maryland, rendered at June
term, eighteen hundred and forty-five, the said period of
exemption was construed to extend to the tenth of
March, eighteen hundred and forty-six; and whereas,
the same principles apply to the shares of stock in the
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