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occupancy.

4. But no agreement to transfer territory or change boundaries can count for anything now if the actual possession was never changed. Continued occupancy of the granting State for centuries is conclusive proof that the agreement was extinguished and the parties remitted to their original rights.

5. The waters are divided by the charter-line where that line has been undisturbed by the subsequent acts of the parties, but where acquisitions have been made by one from the other of territory bounded by bays and rivers, such acquisitions extend constructively to the middle of the water.

The principal point upon which Mr. Beck disagreed with his colleagues was as to the

location of the Watkins's Point of Lord Baltimore's charter.

The biennial session of the Legislature began on the 5th of January, and continued until the 3d of April. Among the acts passed was one providing for the general valuation and assessment of all property subject to taxation. It divides the counties and cities of the State into assessment districts, and gives to the Governor, with the advice and consent of the Senate, authority to appoint assessors for each district, and Boards of Control and Review for the several counties and the city of Baltimore. Appeals from the action of the assessors and Boards of Control and Review can be made to the county commissioners and to the Appeal Tax Court in the city of Baltimore, and thence appeals may be made to the Court of Appeals. The general supervision of the conduct of asState Controller. sessors and Boards of Review is given to the bonds of corporations owned by citizens of the All shares of stock and State, whether such corporations are located

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in the State or elsewhere, are made subject to taxation, as also the securities of other States and countries, and all investments in private securities, "except mortgages upon property in this State and the mortgage debts respectively secured thereon."

A new corporation act was also passed providing for the creation and regulation of incorporated companies. It defines the powers and privileges of railroad companies, and makes all necessary provision for the organization and operation without a special charter. A special act was, however, passed incorporating the National Railroad Company, the object of which was to "connect Washington with the Pennsylvania system of railroads through

or near Brookville by the most feasible and direct railroad communication practicable."

Several acts were passed relating to the conduct of elections in the city of Baltimore. One of these provided for a thorough revision of the registration lists and the removal of the names of deceased persons and those fraudulently registered. Another took the control of elections from the board of police and vested it in a board of supervisors to be appointed by the Governor. Another act provided that a census of legal voters should be taken and the city divided into election precincts of not more than 600 voters each.

Among the other acts passed was one abolishing the system of police magistrates in Bal

timore, reducing the number of justices, and giving the Governor power to appoint them for the city at large instead of by wards; one laying a tax on the property of railroads; one prohibiting the employment of children under sixteen years of age in any factory more than ten hours a day; one providing for the inspection of mines and the security of miners; and one repealing the law which prevented grocers and others than druggists from selling patent medicines.

Two investigations were ordered, one into the management of the Chesapeake & Ohio Canal, and the other into the last election of Governor. The former resulted in the vindication of the canal management from all charges, and the latter in the withdrawal of Mr. Harris, the contestant for the office of Governor, before the inquiry was completed.

An extra session of the Senate was held in the latter part of April, for the purpose of confirming appointments of assessors and Boards of Control and Review under the new assessment law, but occupied only two days.

The public debt of the State at the close of the last fiscal year, September 30th, was $10,730,525.46, of which $5,014,333.35 consisted of sterling bonds, with interest payable in coin in London. The reduction of the debt for the year amounted to $677,088.88. The State has productive investments amounting to $4,329,105.89, and unproductive investments to the amount of $29,287,041.76. The receipts of the Treasury for the year amounted to $3,078,241.95, including a balance of $1,038,111.33 brought over from the previous year. The receipts from ordinary sources were $1,838,158.53, the sum of $135,050.25 having been raised by the hospital loan, and $66,924.84 having been received from the United States on account of war claims. The tax levy of the year was $740,218.87, of which $429,112.41 was for public schools, and $311,106.46 for interest, these being the only purposes for which a tax levy is made. The total valuation on which taxes were levied was $429,112,418. The total disbursements of the year were $2,676,810.66, of which $388,564.22 was in redemption of bonds; $34,469.08 for the completion of the Normal School; $20,156.62 for rebuilding the State tobacco-warehouses, destroyed by fire; $135,193.30 for the Maryland Hospital for the Insane; $15,000 for the Centennial Exposition; $68,956.63 for sundry special appropriations; and $1,916,300.47 for the ordinary expenses of the government. The balance in the Treasury, at the end of the year, was $453,838.63, including $23,995.47 credited to the school-fund, and $28,408.87 credited to the sinking-fund. The proceeds of the tax levy for public schools were $565,512.11, of which $452,387.11 was distributed to white schools, $100,000 to colored schools, and $13,125 to the State Normal School. The commerce of the city of Baltimore for the first half of the year showed a decided in crease over that of the corresponding portion

of the preceding year. The total value of exports for six months was $18,613,144, against $14,170,514 in 1875. The largest amount, $9,865,793, in value, was sent to England; the next, $3,868,344, to Germany; the next, $1,631,120, to Holland and Belgium; and $1,292,776 to Brazil. The largest single item in the export trade of the city was corn, of which 11,937,906 bushels were shipped, an increase of 7,221,000 bushels over the first half of 1875, and over 5,000,000 more than during that entire year. The other important commodities exported were, petroleum, 17,849,598 gallons; bacon, 3,113,833 lbs.; lard, 5,696,118 lbs. ; oilcake, 6,249,294 lbs.; staves, 1,338,694 in number; lumber, 1,825,157 feet; wheat, 473,807 bushels; flour, 215,573 barrels; tallow, 681,176 lbs.; and tobacco, 28,929 hogsheads in leaf, 2,976 hogsheads of stems, 2,201 cases in various forms, and 373,549 lbs. manufactured.

There was no State election in Maryland this year, but the political parties held conventions for the appointment of delegates to the National Conventions, and for the nomination of electors of President and Vice-President. The Republicans met at Frederick, on the 4th of May, and accomplished both these purposes. Resolutions were adopted expressing gratitude that all investigations had failed to touch the honor and integrity of President Grant, whose Administration had been wise, patriotic, and prudent in the reduction of the public debt, and the adoption of measures looking to an early resumption of specie payments. They pledged the vote of Maryland to James G. Blaine as a candidate for President, and commended B. H. Bristow for his efforts to expose and prevent corruption. The delegates were directed to vote for Mr. Blaine as long as there was a reasonable hope for his nomination.

The Democrats appointed their delegates to the National Convention on May 31st, and nominated candidates for electors on the 13th of September. On the former occasion, a majority of the committee on resolutions reported that they would submit no declarations of principles, but merely a request that capable, honest, and efficient men be sent to the National Convention. One member of the committee, however, submitted a minority report, which was adopted, declaring that offices are created for the public good, and not as a reward for political services and spoils, and for the victors; that the traditions of the Democratic party recognize coin as the only money warranted by the Constitution, and favor a speedy return to specie payments, believing that the industries of the country and the interests of the whole people demand a fixed and not a fluctuating standard of value; and that the delegates to the St. Louis Convention be left unpledged and free in their judgment and discretion as to the selection of a candidate for President and VicePresident. At the September convention of the Democrats the following was adopted as the platform of the party:

We, the delegates of the Democratic Conservative party of Maryland, in State Convention assembled, do hereby indorse the platform adopted at St. Louis June 28, 1876, and the candidates nominated by the delegates of the Democratic party of the United States then assembled in convention, to wit: For President, Samuel J. Tilden, of New York; for VicePresident, Thomas A. Hendricks, of Indiana; and we do hereby appeal to our fellow-citizens of every former political connection to unite with us in an earnest effort to elect them, and thus give effect to their pledges of immediate reform in the administration of the Federal Government-reform in the currency; reform in the revenue; reform in expenditure; reform in taxation; reform in the civil service; reforms in all grades of the public service, and in every department of the Government: therefore, be it

Resolved, That the national honor and the public credit should be sustained, and resumption of specie payments be established, without unnecessary or artificial contraction, and without disturbing the industry, trade, and commerce of the country.

Resolved, That the revenue of the country should be so adjusted that the largest revenue should be

obtained from the lowest taxation, in lieu of the present system, which taxes the largest possible number of articles at the highest possible rates. Resolved, That the public expenditure should be reduced to $100,000,000 annually, exclusive of interest on the public debt, and that the present House of Representatives deserves the gratitude of the people for its successful efforts in this direction. Resolved, That honesty, capacity, and fidelity, be constituted the indispensable tests and qualifications for the civil service, and that the present House of Representatives deserves the gratitude of the people for its successful efforts to expose the dishonesty, incapacity, and infidelity, of those now in possession of the Federal Government.

Resolved, That the Constitution of the United States, with its amendments, universally accepted as a final settlement of the controversies which engendered civil war, is the supreme law of the land, and commands our absolute obedience.

Resolved, That the Constitution of the United States establishes the supremacy of the civil over the military powers, and that the order of Secretary Cameron, and the instructions of Attorney-General Taft, recently issued in reference to the interference

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of the military in elections, are flagrant perversions of law, and assumptions of power which deserve the indignant denunciation of all honorable men. "A free people should hold no middle term with tyranny, oppression, and usurpation."

Resolved, That the Democratic party at all times proclaims the right of free speech, and heartily denounces all attempts at violence, riot, or interference intended or calculated to abridge this sacred right of the people.

Resolved, That the Constitution of the United States secures perfect equality to all citizens, of whatever race or color, before the law, and that while we abhor and detest the tyranny, oppression, and usurpation, of the present Republican Administration, we pledge our best efforts to guarantee to every citizen all his rights of person and property, without regard to race or color.

Resolved, That the Constitution of the United States secures the entire separation of church and state in the interest of civil and religious freedom; wherefore, we pledge ourselves to oppose any appro

priation of the school-fund to sectarian institutions, or any legislation which permits any sectarian interference with the public schools established by the State for the education of the people.

Resolved, That the Democratic party in the legislation of this State has demonstrated its willingness and ability to extend to every rank, station, and condition of society equal political, civil, and individual rights, by extending to all a free and unobstructed ballot, and by providing the means of education from a common fund for the advancement of every one, without respect to race or color, which is the surest guarantee of their fairness and justice to the whole people of the State.

At the election on the 7th of November there were 163,793 votes cast for presidential electors. Of these the Democratic candidates

received 91,779; Republican, 71,980; "Greenback," 33; and Prohibition, 1. The Democratic majority was 19,765. The six members

of Congress chosen at the same time were all Democrats. The total vote in the city of Baltimore was 54,289, and the Democratic majority 16,129.

On the 22d of February, Daniel C. Gilman was installed as President of the Johns Hopkins University, in Baltimore. This institution had been founded by a board of trustees, appointed by the late Johns Hopkins, to carry into effect the purposes of a munificent bequest of $3,500,000. They were left untrammeled by conditions and restrictions, and their plans contemplate the establishment of a wellequipped university, which shall include not only an academic department, but special schools of science, medicine, and jurisprudence. Several chairs of instruction have been filled, and courses of lectures established. For the temporary accommodation of the institution, buildings have been leased in the heart of the city of Baltimore; but the permanent site is at Clifton, where it is proposed to construct simple but substantial edifices adapted in the best manner to the purposes for which they are intended. At the beginning of the academic year 1876-'77, Prof. Huxley, of England, delivered an address before the university on the "Higher Education," and during the year courses of lectures were given by eminent scholars from different parts of the country.

sealed up in glass jars. They were discovered
and stolen, and no trace of them could after-
ward be found. The Circuit Court of Balti-
more City decreed that the company should
issue to the former owner of these bonds cer-
tificates of indebtedness in lieu of them, and
should pay them at maturity, with interest
thereon semi-annually, upon his giving secu-
rity to indemnify the company against loss in
the event of the production of the original
bonds in the hands of bona-fide holders. This
decree was affirmed by the Court of Appeals.
MASSACHUSETTS. The total amount of
taxable property in the State of Massachusetts
is $2,123,099,579.09. This includes $1,262,141,-
092 of real estate, as assessed May 1st; $537,-
708,263.86 personal estate, including national-
bank shares, as assessed May 1st; $243,340,-
642.75 deposits in savings-banks, October 1st;
and $79,909,580.48 corporate property, other
than real estate and machinery. The aggre-
gate shows a falling off of $70,809,505.11 from
the amount in 1875.

The amount and character of the public debt
of the State, and the changes of the year, are
shown in the following statement:
Amount outstanding January 1, 1876........
Negotiated during the year:
Worcester Hospital loan..
Danvers Hospital loan..
Harbor improvement loan..

Total..

Paid during the year:
Union Fund loan of 1561 (final).....

$33,886,464

$350,000
450,000
800,000

1,100,000

$34,986,464

1.436.000

Aggregate funded debt, January 1, 1877......... $33,550,464

Classified as follows:
Railroad loans..

War loans.

Ordinary loans..

$17,768,996
11,068.188
4,713,250

Net reduction of debt in 1876.....

An important decision, involving the responsibility of national banks for securities placed in their keeping, was rendered by the Court of Appeals in the latter part of February. A Baltimore firm had in 1866 deposited bonds, valued at $26,500, with the Third National Bank of that city, as collateral security for payment of all obligations then existing, or thereafter to be incurred, with the understanding that the officers of the bank had the right to sell the bonds in satisfaction of such obligations. The firm was a regular customer of the bank, obtaining discounts, borrowing money, and sometimes overdrawing its deposit account. In 1872 the bonds were stolen from the vaults of the bank by burglars, at a time when nothing was due from the firm. Suit was brought to recover their value. trial before the Superior Court of Baltimore, in 1873, the jury failed to agree. A second trial in Howard County, in September, 1874, resulted in a verdict for the plaintiff for the full amount claimed. An appeal was taken to the Court of Appeals, which decided against the bank, confirming the judgment of the Payments from revenue.. court below.

At a

Another interesting case was decided by the Court of Appeals in June. A citizen of Virginia was, prior to 1861, the holder of $8,000 of the coupon bonds of the Chesapeake & Ohio Canal Company. Being assigned to duty in the Southwest, in the early part of the war, he left them in custody of his wife. At the time of the evacuation of Petersburg, in 1865, she, being fearful that the bonds would be stolen from her, caused them to be buried,

$586,000

The loans which mature during the year 1877 are the Norwich & Worcester Railroad loan of $400,000, a portion of the Union Fund loan amounting to $400,000, and the last installment of $50,000 of the Northampton Lunatic Hospital loan. The redemption of these is fully provided for by sinking-funds and otherwise.

The following is a statement of the receipts and expenditures of the Treasury for the year:

Cash on hand January 1, 1876..

Transactions during the year:
Receipts on account of revenue. $6,400.746 TS
Receipts on account of funds... 4,755,078 32

Total...

$6,101,436 64

Payments on account of funds.. 6,761,011 93

$5,806,946 71

11,185,525 10 $16,492,771 $1

12,862,448 57

Cash on hand at the close of the year......... $3,630,823 24

The estimated revenue for the year 1877 is $4,008,241; estimated expenditure, $4,771,300. The amount to be raised by State tax to cover the deficiency, and provide for the wants of the Treasury in anticipation of the revenues of 1878, is fixed at $1,400,000. This is a reduction of about $1,000,000 from the average of fifteen years.

The railroad system of the State now consists of 1,837 miles of main track and branches, 761 miles of siding, and 626 miles of double track, and represents a total permanent investment of $110,000,000. There is a mile of railroad to every 4.28 square miles of territory and 900 inhabitants. The net income from the capital invested was 5.6 per cent. for the year. The total earnings were 4.85 per cent. less than in 1875, and 11 per cent. less than in 1873. The railroad commissioners have prepared a uniform system of keeping accounts for all the corporations of the State. The Hoosac Tunnel and the connecting road are at last substantially completed. The total cost of the work is as follows:

Scrip issued to the Troy & Greenfield Rail

road Company before possession was taken by the State....

Amount since paid to January 1, 1876, including interest on scrip, less rents, materials sold, etc.

Net payments in 1876..

two companies, all infantry; one battalion of two companies and one unattached company of cavalry; and one battalion of two companies and one unattached company of artillery. The expenses of the military department were reduced from $363,630.90 in 1875 to $165,718.08 in 1876, a decrease of $197,912.82.

The public-school fund of the State amounts to $2,066,866.43. The income from this, distributed among the various cities and towns for the year 1875-'76, was $83,350.99. The total amount expended throughout the State for educational purposes was nearly $6,000,000, or $19.68 for each child between the ages of five and fifteen. The number of children of all ages in the public schools during the year was 305,776. The rate of taxation for school purposes varies in different localities from $970,650 00 half a mill to seven and a quarter mills to the dollar, the average being three and a third mills.

14,128,230 61
2,106,169 12

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Total net cost paid to January 1, 1877........ $17,200,079 78

There was also due and not paid on the contracts $121,939.84, making the total cost $17,322,019.57. The tunnel has been arched with brick. The total length is 25,081 feet, and 20,000,000 bricks have been used in arching. Timber shields have been erected in the central shaft as a protection against falling rocks. It has been found that not the slightest difficulty arises from lack of ventilation. The tunnel line has been during the year under the control of the Governor and Council, who employ a manager and subordinates to carry on its business.

The amount of insurance upon property in the State is $800,000,000, of which $450,000,000 is held by home companies, and $350,000,000 by companies from other States and countries. The annual cash premiums amount to about $7,000,000, and the amount paid for losses from fire has for three years averaged 45 per cent. of the gross premiums. There are 137 companies from other States and countries doing business in the State, representing a capital of $50,000,000. The cash capital of home companies is $8,324,200.

The total amount deposited in savings-banks during the year ending October 31st was $243,340,732.66, or $5,491,769.45 more than in the preceding year. The total amount of new deposits was $49,776,771.08, while $52,120,524.02 was withdrawn, showing an excess of $2,343,752.94 of withdrawals over new deposits.

The number of corporations making returns under the general law was 734; total capital, $148,880,985; total assets, $244,130,775; total liabilities, including capital paid in, debts, reserves, etc., $243,814,781.

HUSETTE

SEAL OF THE STATE OF MASSACHUSETTS.

There are 37 penal establishments in the State, including the State-prison, State Workhouse, Houses of Industry, Boston House of Correction, and the county jails. The total number of commitments during the year was 22,550, including 16,700 different persons. The number in confinement on the 1st of October was 4,345. The total aggregate expenditure for these establishments was $617,577. The number of convicts in the State-prison at Charlestown on the 30th of September was 744, an increase for the year of 55. The income of the prison was $66,147.22; expenses, $121,624.37-showing a deficit of $55,477.15.

The militia of the State has been reorganized, and now consists of 350 commissioned officers and 3,412 enlisted men. The organization ineludes four regiments of eight companies each, three battalions of six companies, two battalions of four companies, and one battalion of

The prison for women at Sherborn is to be completed about June, 1877. It will cost $300,000 for construction, and accommodate 500 inmates. The number of women in the penal institutions of the State on the 1st of October was 821, of whom 81 were in county jails, 231 in houses of correction, 335 in the Boston City Prison, and 174 in the State Workhouse.

The amount already expended on the construction of the new Lunatic Asylum at Danvers is $1,373,554.97, and it is probable that

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