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many volumes Of the laws of the State; they
are in some respects inconsistent with each
other, and certainly require amendment.
would, therefore, most respectfully suggest the
propriety of digesting and embodying them in
one enactment, that the officers and people oI
the State may distinctly understand the duties


imposed on them.


The first of these laws to which invite your
attention is the "lncomc tax law" passed at
December ses l84l, ch. 1926. In a large por-
tion Of the State the assessment under this law
was not made, and in portions of tho State
where the assessments were made they were so
partial in their character as to render the law
exceedingly obnoxious to the people, The re
suit is that this law during the past fiscal year
was not enforced in the City Of Baltimore, and
but partially enforced even in the counties in
which assessments had been made; and the re-
venue derived from it has not exceeded $1,000
am aware that by the supplemental act OF
December scss. 1913, chap. 307, the Executive
is empowered TO appoint assessors and col'ec-
tors, where they had not been appointed by the
local authorities but as no power was conferred
upon the Executive TO compensate the persons
appointed bv him, was unwilling to encounter
the certain Fl lure which must have attended
any attempt on my part to execute its provi-
sions


And again, as even the successful exercise
of this power by me would not remedy the de-
tects in the assessments which have been made,
| thought it would be better to submit the sub
icct to your consideration, that you may au-
thoriZe a neig assessment Of "Salares and In
comes" throughout the State, and that the law
may be equally and mEartiallv executed


The next revenue law to which | call your
attention, is the act Of lS4!, chapter 297,
which imposes a specific tax on "Sllyer Plate
and Watches.n This law has, | believe, been
enforced in no part of the State, and it cannot
be carried properly into effect without an as
sessnlent. The assessors of the "Income taxi
(if you should authorize their appoinment)
can also maze the required assessment of those
articles; and the two laws when fully enforced
will yield revenue of $4,000.


The act of March session, lSil, chapter 80,
"for the assessment and valuation OF the pro-
perty of the State, and TO lay direct tax
will also require revision.


The assessment Of the property of the State,
made under its provisions in lS4l, which
amounted to the sum Of Sl96, 163, SAT 98-l 100
has been subsequently reduced by the action OF
the appeal tax courts to Sl77, l39 ,645 23-l00
although the wealth Of the State has within
that period greatly increased. 1t is a question
| of grave importance, which will demand your
early consideration, whether new assessment
Of the property of the State would not greatl,
augment the public revenue and at the same
time render more equal the burthens of taxa
ton. ANY assessment which may be auth r.
! lied (bcing for State purposesJ should, in my
judgment, be made under the supervision anC
appointment Of the State authorities, as the
only means by which the great desidcfatum-
equality Of taXation--Can bc attained


By this act the stock of the State held by
domestic holders is taxed and that portion
held by nonresident holders is exempt from
taxation. An investigation Of the subject con.
vInced me that the greater portion Of the stock
designed to be taxed by this law had cscar red
taxation.


The attention Of the commissioner Of loans
had not been drawn 10 the Sd section of the
act Of 1871, chapter 2el, by which che is d.
racted to retain out Of the interest accIung on
the State stock the tax due on said stock" and
this tax upon the stock Of the State was paid
but in comparatively few instances. Great
difficulty Gas viii be apparent to the lcgisa-
ture by an examination Of this section OF the
act Of l9il;) existed in discriminating the do
mestic from the foreign stock, and consequent
ly ascertalning which was liable, ard which
exempt from taxation. BY the act of lS44,
chapter u, the stock or debt of the State
held by non, residents was also subjected to
taxation, and tho treasurer was directed 'to
retain the tax out Of the interest falling due on
the LIST July in each year, and to authorize the
commissioner Of loans to draw only for the ba-
lance of interest after dcducting the tax" 1t
will be perceived that this law did not dimin-
ish the difficulty which existed in discrminat-
log the domestic from the foreign stock. 1t
was manifest that both the domestic and nom
resident holder were taxed--thc tax of the
former to be retained by the commissioner of
loaAs, and the tax of the latter 10 be retained
by the treasurer. AS the interest of July
lS45, from which the latter tax was to be de-
ducled, has not been paid, the treasurer has
not as yet encountered the difficulty which
has been suggested; but, as under another law,
the coupons and certificates of interest iuclud-
ing those due on the lst of July, lS45, were TO
be received by the commissioner of loans in
paymnet of taxes, that officer has been obliged
to meet the difficulties ongendered by both
laws.


By my direction the commissioner of loans
has has adopted as the rule of construction of
the act of ls4l, chapter PSI "to consider all
stock and bonds as domestic which are not pro-
we'd TO be the property of tnon-residents;" and in
reference to the act of 1914, chapter liz, "to
consider all coupons and certificates of interest
offered in payment of taxes as the property Of
domestic holders" In order to secure the pay
ment oft the arrears of tax due from the domes-
tic holders of stock or bonds of the State, the
commissioner of loans, with my approval, has
determined to consider the entire tax on the
domestic stock as in arrear until shown to have
been paid; and to retain from the nteres tof Ju-
ly, lS42, (Which has been paid by the Treasu-
rer at the loan Office in liquidation of the inte-
rest of this quarter the tax thus found to be in
arrear. BY this means the commissioner of
loans has received for arrears of ia xes due from
the domestic stock. and bond-hoders, the sum
nf 60 h63 Ii and will harna( or ha enah,nd To