REPORT

OF THE

Comptroller of the Treasury

OF THE

STATE OF MARYLAND

TREASURY DEPARTMENT, COMPTROLLER'S OFFICE,

ANNAPOLIS, MARYLAND, DECEMBER 15, 1913.

To the Honorable,

The General Assembly of Maryland:

Section 9 of Article 19 of the Code of Public General Laws
requires that a statement of the financial affairs of the State
shall be made annually, and in obedience thereto, I have the
pleasure of submitting herewith my report for the fiscal year
ended September 30th, 1913.

RECEIPTS.

The total gross receipts of the Treasury proper, as given in
Statement "A," are shown to be $10,720,082.91, to which must be
added the balance on hand September 30th, 1912, of $1,826,-
229.95, aggregating $12,546,312.86, the largest amount ever
received into the Treasury, being an increase of nearly 100 per
cent, within the past five years.

This increase is only apparent, however, and not real by
reason of large bond sales during the year, and the increased
tax rate from 23 1/4 cents in 1912 to 31 cents in 1913 on each
$100. The revenues accruing from these sources are dedicated
funds and applicable only for the purposes for which issued
and levied and therefore cannot be used in the payment of the