xiv REPORT OF THE COMPTROLLER OF THE TREASURY.

scources, balances due by state officers and institutions,
together with the very valuable information contained in the
Statistical Report will be well worthy of your perusal, and to
each of them I would respectfully invite your attention.

CONCLUSION.

In this brief resume I have endeavored to bring before you
in such way as would be most convenient and intelligible, the
main points of the general report, referring to the various
statements of the report itself for details.

The State is to be congratulated upon the excellent condi-
tion of its finances. It became necessary in order to com-
plete and equip the Maryland Penitentiary, and to complete
the Springfield State Hospital, and to provide for the erection
of a much needed public building in Annapolis, for the Legis-
lature, at its last session, to authorize a loan for the sum of
$500,000. The carrying of this loan, with the requisite
sinking fund, has been provided for and the State tax rate for
1901 reduced from 17 3/4 to 17 cents on the $100.

I beg to acknowledge the able assistance I have had from
Hon. Murray Vandiver, State Treasurer, to whose good judg-
ment and wise counsel I have always had ready access.

I wish also to express my appreciation of the valuable
services rendered by the clerks in my office, and for the courteous
and faithful manner in which they have severally discharged
their duties.

Respectfully submitted,

JOSHUA W. HERING,
Comptroller of the Treasury,