COMPTROLLER OF THE TREASURY. - XXXiii

and to obey the laws in that regard. This tax although small
now under the pressure of depressed commerce, and the de-
ranged condition of the business of the country, will yield a
handsome revenue; whenever wise, patriotic and practical
counsels in our national affairs, shall have restored prosperity
to the country, opened the channels of trade, and rendered
the internal commerce of the States, brisk and remunerative.
If, however, the Court of Appeals shall, as is expected, decide
that notwithstanding the exemption granted to the stock
holders, the corporation must pay the taxes imposed upon it
by law, and, this decision is acquiesced in without. further
contest, the way may be plain to a satisfactory adjustment
of all the questions which have formerly been at issue between
the State and the Company.

The Baltimore and Potomac Railroad Company, the
Eastern Shore Railroad Company and other companies men-
tioned in Table No. 5 have paid the taxes on their gross re-
ceipts for the several years they have been due. Suits have
been ordered against other railroad companies now in arrears,
to recover the taxes due from them.

DEFICIENCY IN THE REVENUE.
The deficiency which must accrue, to the Treasury, during
the current year, unless remedied in some way, will embar-
rass all the financial operations of the State. The loss to the
treasury from the failure of accustomed receipts, amounts at
this time, to upwards of $260.000. Should this amount of
revenue be at once realized from the payment of any of the
large amounts due the State, and a certainty of the payment
during the current year of any amount equal to the usual
Dividend heretofore made on the stock of the State in the
Washington Branch road, and the amount due, for the year
from the Susquehanna and Tide Water Canal Companies, no
increase of the rate of taxation will bs necessary, unless larger
appropriations should be made by the Legislature, than have
been estimated for. Should no such receipts be realized,
however, provision will have to made at once to supply the
deficiency caused by these failures, and new taxes must be
imposed to supply the place of the revenue formerly received
from these sources.