VOLU ME. XIV.-No. AZ.

r E p OR L
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The Committee on Ways and Means to
whom that portion of the message of the Gov
ernor which relates to the inauces of the State
was referred, having very carefully and deibe-
-atey considered the subject, submit the fol-
4 lowing report;


period of four years has now elapsed since
I lke State discontinued the regular and pune
VI tual payment of interest on the public debt
i. This humiliating condition of things occurred
ION the first day of January, lS42, when for
4 j,he first time, the State of Maryland, which
had until then, with unvarying fidelity COM
u ,plied with all her engagements, found herself
Sidnable to meet the demands Of her creditors
upon the Treasury.


1t is true that for some considerable time
/ PRIOR 20 this period the revenue had been def
cient; but this deficiency being supplied by re-
sources within the control Of the State, though
not contributed by its citizens, its actual exis-
8 ,ence was not realized, until the suspension of
payments forced it upon the public attention.
Then for the first time, it came to be known
and acknowledged that the system of legisla-
non which led to these calamitous results,
i flowed from unwise or inconsiderate counsels,
and severe measure of condemnation was
meted ont to those TO whose active exertions
and influence it was attributed. Each of the
4 two political parties which at that time and
now divide the State, was strenuous in its en-
deavors to throw the responsibility and odium
! Of creating this debt upon the other; bat never
for one moment was the thought entertained
by either of denying or evading its absolutely
binding obligation, or the necessity of paying
4 II to the uttermost farthing.


The committee c by no means propose to nsti-
tute any comparison into the greater or less de-
] gree of responsibility which may attach to Ell
ther party for creating this ebt,--such an en-
1. 9ury would not only be irrelevant, but could
be productive of none but pernicious consequent
Fees. The debt exists and our honor, interest
and good name among our sister States, and
The success of free government throughout the
1 world, demand that we pay it.


At one time doubt was entertained in some
olarters of the ability of the State to endure
the severe system of taxation which could
alone supply the funds requisite for this pur-
pose, and the mere existence of this doubt for
a time baftied TO some extent the exertions
which il was indispensably necessary to make.
Time, however, has dispeled these doubts
| The revenue of the past year, applicable to the
payment of the interest on the public debt ex-
ceeded the amount of interest which accrued
| during the year by the sum of fifty-hve thou
sand, three hundred and slXty-three dollars
;hirty-one cents, and the excess of course ex.
tinguished so much of the arrearages which llaC
accumulated in preceding years.


The committee therefore, feel themselves
fully warranted in saying that the problem ha:
been solved, and that we are not doomed tc
The mortifying reflection, that we live in dis
nonored and bankrupt community.


Considering the condition i'll which the peo-
pie of Maryland found themselves on the frs
q day Of January, lS42, when the alarming fact
was brought home to them, that heavy taxation
was the only resource remaining to pay the in.
terest upon the public debt it is not surprising
that doubt and dismay should have taken pos
session of their minds; and the persevering anc
finally successful efforts they have made te
= overcome all difficulties, must hereafter be al
unfailing subject of congratulation.


The public creditors irritated, and i'll many
instances, no doubt, suffering from the loss o
their dividends, have indulged in animadver
sions more or less loud and indignant, and it il
a very far from the purpose of the committee te
utter one word of complaint; but they are lie
vertheless persuaded that when justice shall a
last have been done, calm retrospect of the
circumstances will materially mitigate the dis
pleasure of the public creditor. When it is re
collected that prior to the act of March session
eighteen hundred and forty-one, chap. %, th'
largest amount of direct taxation ever leviet
upon the people of Maryland in any one year
was sixty thousand, eight hundred and eighteer
dollars, and that even that imposition was CON
tinued but for few years, surely it can be M
matter of surprise, that apprehension of tht
ability of the State to raise, in this way, up
wards Of six hundred thousand dollars shoult
have been entertained.


1t should be remembered, also, that consl
derable portion of the people think-whethe
&l,oft a. :,
the slightest degree in the advantages whicl
the expenditure of the money, raised upon th
credit of the State, has conferred upon othe
portions That with regard to some sections
the system which gave rise to the debt wa
adopted and continued against their earnest re
monstrances and most strenuous opposition, AM
n hat now, according to their view, the onl
\ fruits of the legislation which they in vain en-
Ndeayored to prevent, is, and must be tor som
time to come; felt only in the periodical visit
of the tax gatherer.


The committee are not to be understood a
intimating an opinion in reference to The pro
ipriety of this sectional discomfort, and abov
all, they would do or say nothing to nfame il
they advert to the fact simply as an additiona
element of discontent to be encountered, in tn
struggle to establish such an enlarged system
of taxation as the public exigences required
and they feel no hesitation in saying, indee


they take pride in proclaiming, that under tn


complicated, numerous, and pressing dlfficul
ties by which the people and government G
the State have been surrounded, they have, b.


their resoute frmness and decision in iacn


and overcoming them, established for them


selves an enviable title to the favorable consd


Grafton of all who place just value upon tn


sanctity ofpublic faith.


II ohould he horpa in mind in nlan 81 ills


estimate upon the efforts made by Maryland t


comply with her pecunlary engagements, tha
1.-The power of the government rests emphatica


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