“AMPLY SECURED”
OUR FINANCIAL POSITION FURTHER OBSERVATIONS BY THE PRIME MINISTER. TOTAL DEBT, 201 MILLIONS. Referring further to the financial position of New Zealand, the Prime Alinistcr states that as the war has been directly responsible tor the greater part of the increase in the public debt, he has had the debt analysed and compared with the debt at the end of tho financial year 1914-10, the yoar in which the war broke out. The comparison is; 1914-15 1919-20 - : £ £ Ordinary debt 35,042,025 97,341,780 Discharged sol- 11>m .000 War debt ... 2,000,000 80,089,025 S vances 12,780,485 12,619,950 Totals 99,822,510 201,170,755 These figures show an increase of £101,348,245 in the public debt in five years. _ r .. “Against the public debt. Air Alassev oava, “we hold tangible assets to the amount of £51,709,791, while tho total amount expended on railways, public buildings, telegraphs, and settlement lands amounts to £72,371,643, for which the Dominion holds good value. . , “The estimated value of Crown lands is £25,000,000, whilst a sum of £lB,125,154 has been expended on indirectly productive services, which may bo set off against tho debt. “I think it is perfectly clear that the financial position of the Dominion ia eminently satisfactory, and that investors in onr loans are amply secured.” •
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZTIM19201011.2.31
Bibliographic details
New Zealand Times, Volume XLVI, Issue 10717, 11 October 1920, Page 5
Word Count
205“AMPLY SECURED” New Zealand Times, Volume XLVI, Issue 10717, 11 October 1920, Page 5
Using This Item
Stuff Ltd is the copyright owner for the New Zealand Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.