V

has been $249,315.40, yet $237,102.65 only was expended
to effect the increase, the State being thus saved in the pur-
chase of Stock $12 12.75.,

The exclusive control of the Sinking Fund is with the
Treasurer, and its present condition clearly evince the faith-
fulness and ability of the distinguished gentleman, to whom
the people have entrusted its management.

DIRECT TAXES.

STATEMENT No. 8, will show that the receipts from the
Direct Tax for the fiscal year are $330,594.42, of which sum
$115,101.68 were paid on account of Tax accrued in 1856,
and $215,492.74 were on account of previous years,

By the Act of Assembly, Chapter 352, of 1856, the Direct
Tax was reduced from fifteen cents on $100 to ten cents on
$100.

A comparison of the receipts, on account of Direct Tax,
contained in STATEMENT No. 6, with those of the preceding
fiscal year, will show that the entire receipts on this account
for 1855, which we're $365,837.88, exceeded those of the year
just closed by the sum of $35,243.46; and it will also appear
that the revenue from this source,received On account of the
Tax for, 1856, was 186,404.51 less than the receipts in 1855,
for Tax due on account of that year. Making an allowance
for the reduction of the Direct Tax, the difference pro rata in
favor of the receipts in 1856, for 1856, appears to be $20,-
764.22 over the preceding year. But the diminished diffi-
culty of collecting a reduced levy, and the increase of assess-
able property in the State must also be considered in this con-
nection, and will explain, to a considerable extent, this dif-
ference.

The collectors, for 1856, have generally made their pay-
ments with commendable promptness. Those of Calvert
County are deserving of particular mention, having settled
their accounts, for 1856, in full, with this Department.

Those collectors of Baltimore County who were largely in
arrears on the 30th of September, 1855, (and this, it is but
just to say, was attributable, to some extent, at least, to the