"DEAD WEIGHT" DEBTS.
BRITISH FINANCE STATEMENT. RUGBY, September 19. An official statement on the national debt shows that the total "dead weight" debts on March 31, 1935, amounted to £7,500,436,567, a decrease during the year of £21,861,193. To this are added other capital liabilities in respect of sums borrowed under various Acts amounting to £101,996,030, compared with £208,064,507 at the end of the previous year, making a total aggregate liability of the State of £7,902,431,897, against £8,030,362,567 at the end of March, 1934.
The "dead weight" deht is composed firstly of the nominal funded deht, totalling £3,368,146,604, a decrease during the year of £6,190,257, secondly of estimated liabilities in respect of terminable annuities, £12,077,795, an increase of £10,649, thirdly of the floating debt, £883,380,000, a decrease of £113,300,000, fourthly of other unfunded debts, £2,671,974,510, a decrease of £5,560,608, and lastly of external debt, £1,036,545,184, unchanged. There have been deducted bonds, etc., tendered for death duties amountin™ to £121,687,226, leaving a total of £7,800,436,867. The national debt, which rose rapidly during the war years, was only £649,770,091 on March 31, 1914.
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Bibliographic details
Auckland Star, Volume LXVI, Issue 223, 20 September 1935, Page 7
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180"DEAD WEIGHT" DEBTS. Auckland Star, Volume LXVI, Issue 223, 20 September 1935, Page 7
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