470 



MAKYLAND. 



loan of $4,000,000, making a total, for which 

 the State had pledged her credit, of $11,500,000. 

 These acts are still, in part, unrepealed. 



Of this large amount only $500,000 have been 

 negotiated, increasing the permanent indebted- 

 ' ness apparently to that extent, and showing the 

 condition of the bonded debt to be, in fact, 

 without material variation up to the close of the 

 year, notwithstanding the heavy amounts which 

 have been disbursed, and which have been fur- 

 nished from accruing revenue and other avail- 

 able resources, authorized by law to be made 

 applicable to that object. But by the author- 

 ity given to the treasurer by the act of 1863, 

 to cancel and destroy all bonds except $1,000,- 

 000 of the five per cent, stock represented by 

 the sinking fund and its increments, an actual 

 reduction of the funded debt was effected to an 

 extent of $4,509,074.51. 



The disbursements of the State of Maryland 

 for the support of the war, furnished from rev- 

 enue and other sonrces, have amounted in the 

 aggregate to $4,212,470.02. Amount paid on 

 account of volunteers from March, 1864, to 30th 

 September, 1866, $3,788,932.64 ; from 30th Sep- 

 tember, 1866, to 24th November, 1866, $52,637.- 

 50. Total, $4,212,470.02. 



At the extra session of the General Assem- 

 bly in January, an act was passed authorizing 

 the Governor, Comptroller, and Treasurer, to 

 sell certain stocks held by the State in various 

 banking institutions- and railroads, and to ap- 

 propriate the proceeds of the same in payment 

 i bounties and other floating obligations which 

 had accumulated in consequence of the non- 

 user of the defence or war loan, authorized to 

 be issued by the general assembly at various 

 times. This sale was effected at an opportune 

 moment, under circumstances highly advan- 

 tageous to the State, leaving outstanding and 

 still to be disposed of, the State's interest in the 

 Farmers' Bank of Maryland, amounting to 

 $55,500 of the stock of that bank, together with 

 $34,850 Central National Bank of Frederick, 

 and some other and less available items, not 

 necessary to be enumerated here. The receipts 

 from this source amounted to $840,695.91 ; the 

 par value of the stock sold being $773,374.66, 

 the premium realized upon these sales amounted 

 to $67,321.25. By this arrangement, the treas- 

 urer was enabled to provide for every dollar of 

 the floating debt then pressing upon him with- 

 out a resort to the war loan above referred to, 

 and the necessity avoided for any further in- 

 crease of the funded debt on this account. The 

 State, it is thus shown, has passed through the 

 war, and the extraordinary demands attendant 

 upon it, without recourse to the war loan, be- 

 yond the trifling amount before stated say 

 $500,000. The whole liabDities, on account of 

 outstanding bounties not yet provided for, it is 

 estimated, will not exceed $450,000, if it reaches 

 that amount, which is more than balanced by 

 the surplus remaining in the treasury at the 

 close of the fiscal year. 



On the 8th of August, a State Convention, 



called by the Democratic State Committee of 

 Maryland, assembled in Baltimore, for the pur- 

 pose of taking action with reference to tha 

 Philadelphia National Convention, and with a 

 view of cooperating with all conservative ele- 

 ments in restoring unity and the rights of all 

 the States. After the convention was organ- 

 ized, a committee on resolutions was appointed, 

 who through their chairman reported the fol- 

 lowing, which were adopted unanimously as 

 fully expressing the sense of the delegates. 



He it resolved by the delegates of the Democratic 

 and Conservative citizens of Maryland, assembled in 

 general convention in the city of Baltimore, to con- 

 sult together for the preservation of the Constitution 

 of the United States, the restoration of the Union, 

 and the dignity, equality, and rights of all the States, 

 and the promotion of national harmony, that it is 

 the paramount duty of all patriotic citizens, without 

 regard to past political creeds or present political or- 

 ganizations, to cooperate for the rescue of the nation 

 from the dangerous practices and doctrines which 

 now threaten the destruction of our cherished form 

 of government. 



Resolved, That the courage, firmness, and prudence 

 with which President Johnson has resisted the open 

 efforts and secret machinations of the Kadical major- 

 ities of the present Congress ; his unceasing en- 

 deavors to establish all the States in their just repre- 

 sentation in their National Legislature, and his hu- 

 mane and conciliatory policy towards those lately in 

 arms against the Federal Government, accredit him 

 to all men as the faithful, honored, and trusted Chief 

 Magistrate of the American people. 



Jtesolved, That the Constitution of the United 

 States cannot be rightfully amended until the repre- 

 sentatives of all the States shall have been admitted 

 to an equal voice in proposing, and their several 

 Legislatures to a free choice in adopting or rejecting, 

 all contemplated amendments, according to the letter 

 and spirit, and in the mode prescribed in that sacred 

 instrument. 



Resolved, That we recognize in the National Con- 

 vention which is called to meet in Philadelphia, en 

 the 14th instant, a gathering of the patriots and 

 statesmen from every party and from every section 

 of the United States, for the purpose of devising the 

 most effectual means of sustaining the national ad- 

 ministration, of completely restoring the Union 

 under the Constitution, and of healing all sectional 

 strife ; and that we are prepared to hail their happy 

 labors for the restoration as our fathers hailed the 

 work of tho^e who founded our beloved institutions. 



Resolved, That the spirit of the call of the Philadel- 

 phia Convention would not be fully met unless eacli 

 and all of the recognized political organizations of 

 this and of every State who accept the national situa- 

 tion, and who desire to see a truly national conven- 

 tion assembled under the flag of our country, are 

 represented by delegates in that convention ; and it 

 is the sense of this body that the Democratic, the 

 Conservative, and the Union organizations ought to 

 be distinctly represented in their individuality as 

 well as collectively in the unity of their purposes 

 and objects in that august assemblage. And there- 

 fore this convention do firmly accept the proffered 

 faith of the Union convention which assembled in 

 this city on the 25th of July last; and in return we 

 pledge the delegates whom we shall elect to coope- 

 rate on fair and equal terms with the delegates 

 whom they have appointed, to the end that all men 

 may know that the patriotic hearts of Maryland are, 

 as the heart of one man, devoted to the Constitution, 

 the Union, and the Government of the United States. 



The convention nominated 



Leonard as 



candidate for the office of State comptroller. 



