DOMINION'S WAR DEBT.

Otago Daily Times, Issue 19316, 31 October 1924, Page 5

DOMINION'S WAR DEBT.

INTERESTING FIGURES. (From Onn Own Correspondent.) WELLINGTON, October 29. A return presented to the House of Kepresertatives to-day showed that the amoun of interest paid oh the war debt up to March 31, 1924. was £22,853,066. The war debt at March 31. 1924, was £77,434,184, of which ■ £25,924,904, being a balance ot £26.340.245, is funded on an annuity basis at 6 per cent, on the original debt calculated to pav off ,the principal and interest in 36. t years ‘ from date of agreement—viz., September 6, 1922. The amount of interest paid to March oi. 1924 on this portion of the debt was £1955 282 and the amount remaining to be paid to the date of maturity is £29,389,605, making a total of £31,344,890 on the remaining portion of war debt—viz., £51,509,280. , u The amount of interest charge at March 31. 1924, was £2,374,493, and on the present basis of sinking fund the total principal will b© repaid in 33 years. The sinking fund, if accumulated at the present rate of interest for a further 35 years, will equal the total amount of war debt then outstanding. On the assumption I hat the interest rates on the loans are unaltered the total interest remaining to be paid on the war loans will amount to £107,747,877. These figures are estimates, and are subject to debt reductions, conversion, and alterations in rates of interest on the loans issued for redemption purposes, which may materially affect the ultimate amount.