REPAYMENT OF THE PUBLIC DEBT. REPORT AND ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1930.

Appendix to the Journals of the House of Representatives, 1930 Session I, B-02

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1930. NEW ZEALAND.

REPAYMENT OF THE PUBLIC DEBT. REPORT AND ACCOUNTS OF THE PUBLIC DEBT COMMISSION FOR THE YEAR ENDED 31st MARCH, 1930.

Presented to both Houses of the General Assembly in compliance with Section 14 of the Repayment of the Public Debt Act, 1925.

REPORT. Wellington, 11th August, 1930. The Public Debt Commission has the honour to lay before Parliament the account of its transactions for the year ended 31st March, 1930. The following certificate in terms of the Repayment of the Public Debt Act, 1925, was furnished by the Controller and Auditor-General: — Pursuant to section 7 of the Repayment of the Public Debt Act, 1925, I hereby certify that— (a) The total amount of the public debt within the meaning of that Act outstanding at the end of the financial year ended on the 31st day of March, 1930, was one hundred and ninety-six million three hundred and twenty-three thousand nine hundred and twelve pounds fourteen shillings and tenpence (£196,323,912 14s. 10d.), including £1,303,840 loans raised under the New Zealand State - guaranteed Advances Act, 1909, and £29,323 Bs. 4d. loans raised under the Urewera Lands Act, 1921-22, section 10. (b) The amount of the public debt repaid or redeemed under the provisions of that Act within the financial year aforesaid was one million one hundred and fifty-eight thousand four hundred and seventy-one pounds fourteen shillings and elevenpence (£1,158,471 14s. lid.). (c) The aggregate amount of the public debt that has been so repaid or redeemed since the commencement of the Act and to the end of the financial year aforesaid was five million thirty-six thousand and thirty-five pounds eight shillings and twopence (£5,036,035 Bs. 2d.). G. P. C. Campbell, Controller and Auditor-General. In terms of section 11 of the Repayment of the Public Debt Act, 1925, the sum of £1,154,245 7s. 7d. was paid to the credit of the Public Debt Repayment Account from the Ordinary Revenue Account of the Consolidated Fund, and of this sum, together with the balance at the beginning of the year (£5,325 17s. 2d. and interest on investments £1,953 4s. 4d.), the amount of £1,158,471 14s. lid. was utilized in the discharge of the public debt of securities of a nominal amount of £1,158,471 14s. lid.,, as per statement hereunder.

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Public Debt Repayment Account. Receipts. Balance at beginning of year— £ s. d. £ s. d. Cash in the Public Account .. .. .. .. .. .. .. 5,325 17 2 Repayment of the Public Debt Act, 1925, section 11— Transfers from the Consolidated Fund — Subsection (a), being one-half of 1 per cent, of the amount of the public debt outstanding at 31st March, 1929 .. .. .. .. 974,179 17 5 Subsection (a), being one-half of 1 per cent, of the amount of the public debt redeemed to 31st March, 1929 .. .. .. .. 19,387 16 4 Subsection (b), being 3J per cent, of the amount of the public debt redeemed to 31st March, 1929 .. .. .. .. .. .. 135,714 14 7 Subsection (b), being 3J per cent, of the amount of the public debt cancelled during the year, computed from the dates of redemption .. 24,962 19 3 1,154,245 7 7 Interest on investments .. .. .. .. .. .. .. .. 1,953 4 4 £1,161,524 9 1 Payments. Securities redeemed and cancelled in terms of section 13 of the Repayment of the Public Debt Act, 1925 — New Zealand Loans Act, 1908— £ s. d. £ s. d. Ordinary Revenue Account —Miscellaneous : Defence and Maori Wars .. 11 14 11 Public Works Fund —General Purposes Account .. .. . . 20,000 0 0 Mining Amendment Act, 1913, and Amendment Act, 1919 .. .. 4,060 0 0 New Zealand Consolidated Stock, 1929— Naval Defence Act, 1909 .. .. .. .. .. 24,613 9 6 Allocated in terms of section 5 of the Finance Act, 1927 — Ordinary Revenue Account —Miscellaneous — Defence and Maori Wars .. .. .. .. 514,386 6 6 Revenue deficiencies .. .. .. .. .. 127,950 4 0 Loans redemption expenses .. .. .. .. 5,050 0 0 New Zealand Inscribed Stock Act, 1917— Finance Act, 1918, section 10 (War Expenses) .. .. .. 435,340 0 0 Finance Act. 1918, section 10 (War Expenses), (stock certificates) .. 100 0 0 Finance Act, 1918, No. 2, Part IV (War Expenses) ... .. 26,960 0 0 1,158,471 14 11 Balance at end of year — Cash in the Public Account .. .. .. .. .. .. .. 3,052 14 2 £1,161,524 9 1

Statement of Securities redeemed and cancelled in Terms of Section 13 of the Repayment of the Public Debt Act, 1925, during the Financial Year, 1929-30.

Chairman, Public Debt Commission.

Approximate Cost of Paper.—Preparation, not given ; printing (480 copies), £2 10s.

By Authority : W. A. G. Skinner, Government Printer, Wellington.—l93o.

Price 3d.~\

Authorizing Act. "of | p Eat, I mteof | Nominal VaIue . Cash utilized. | I | £ s. d. £ s. d. Ordinary Revenue Account —Mis- Debentures 4 1/11/50 11 14 11 11 14 11 31/3/30 cellaneous : Defence and Maori Wars Public Works Fund—General Pur- ,, 4 1/11/50 20,000 0 0 20,000 0 0 31/3/30 poses Account Mining Amendment Act, 1913, and „ 4£ 1/5/31 4,060 0 0 4,060 0 0 31/3/30 Amendment Act, 1919 New Zealand Consolidated Stock, 1929— Naval Defence Act, 1909 .. Stock .. 4 1/11/29 24,613 9 6 24,613 9 6 14/2/30 Allocated in terms of section 5 of the Finance Act, 1927 — Ordinary Revenue Account — Miscellaneous — Defence and Maori Wars .. „ .. 4 1/11/29 514,386 6 6 514,386 6 6 14/2/30 Revenue deficiencies .. ,, .. 4 1/11/29 127,950 4 0 127,950 4 0 14/2/30 Loans redemption expenses ,, .. 4 1/11/29 5,050 0 0 5,050 0 0 14/2/30 New Zealand Inscribed Stock Act, 1917— Finance Act, 1918, section 10 .. 5 20/4/29 435,340 0 0 435,340 0 0 20/4/29 (War Expenses) Finance Act, 1918, section 10 .. 5 20/4/29 100 0 0 100 0 0 20/4/29 (War Expenses), (Stock certificates) Finance Act, 1918 (No. 2), Part „ .. 5 20/4/29 26,960 0 0 26,960 0 0 20/4/29 IV (War Expenses) — — — Totals .. .. .. .. .. 1,158,471 14 ll'l,158,471 14 11