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B—l [Pt. I]

1949 NEW ZEALAND

THE PUBLIC ACCOUNTS FOR THE Financial Year 1948-1949 Certified to by the Controller and Auditor-General under the Public Revenues Act, 1926

PRESENTED TO PARLIAMENT IN ACCORDANCE WITH THE PUBLIC REVENUES ACT, 1926, AND THE NEW ZEALAND CONSTITUTION ACT, 1852

'This publication is one of a series of three statements dealing with the Public Accounts, as under : B-l [Pt. I].—The Public Accounts with Supplementary Statements, including Statement of the Public Debt and Transactions in connection therewith previously incorporated in B-l [Pt. lII]. B-l [Pt. ll]. —Report of Controller and Auditor-General. B-l [Pt. IV]. —Balance-sheets and Statements of Account of various Government Departments.

CONTENTS THE PUBLIC ACCOUNTS Receipts and Expenditure,— Consolidated Fund— page. Ordinary Revenue Account .. .. .. .. .. .. 4,6 Deposits Account .. .. • .. .. .. .. .. 30 Other Accounts— Air Defence Fund ~ .. .. .. .. .. .. 34 Earthquake and War Damage Fund .. .. .. .. .. 34 Electric Supply Account .. .. .. .. .. .. 34 Land for Settlements Account .. .. .. .. .. 36 Loans Redemption Account .. .. .. .. .. .. 38 National Development Loans Account .. .. .. .. 42 Public Works Account .. .. .. .. .. .. 44 Remittances to London Account .. .. .. . .48 Reserve Fund Account .. .. .. .. .. .. 46 Social Security Fund .. .. .. .. .. .. ..48 State Coal-mines Account .. .. .. .. .. .. 48 War Expenses Account .. .. .. .. .. .. 50 Working Railways Account .. .. .. .. .. .. 52 Summary oe Cash and Imprest Balances .. .. .. .. 54 Summary oe Investments .. .. .. .. .. .. 55 DEPOSITS ACCOUNT:— Receipts and Disbursements under the Trustee Act, 1908 .. .. .. 56 ISSUES COMPARED WITH THE SUMS VOTED UNDER APPROPRIATION ACT, 1948 58 UNAUTHORIZED EXPENDITURE ACCOUNT:— Consolidated Fund, — Ordinary Revenue Account .. .. .. .. .. .. 61 Electric Supply Account .. .. .. .. .. .. .. 64 Land for Settlements Account .. .. .. .. .. .. 65 Public Works Account .. .. .. .. .. .. .. 65 Social Security Fund .. .. .. .. .. .. .. .. 65 Working Railways Account .. .. .. .. .. .. .. 65 Post Oeeice Account .. .. .. .. .. .. .. .. 65 Maori Trustee's Account .. .. .. -. .. .. .. 65 Sundry Products Account .. .. .. .. .. .. .. 66 Summary .. .. .. .. .. .. .. .. .. 66 STATEMENT OF CORPORATION INVESTMENTS HELD AT 31st MARCH, 1949 .. 67 THE PUBLIC DEBT:— The Public Debt of New Zealand Outstanding on 31st March, 1949 .. .. 68 Statement of Advances by the Reserve Bank to the Government by way of Overdraft Outstanding on 31st March, 1949 .. .. .. .. 72 Statement of Transactions in connection with the Public Debt in the Year ended 31st March, 1949 .. .. .. .. .. .. .. .. 72 Statement of Loans guaranteed by the Government .. .. .. .. 73

B—l [Pt. I]

SUMMARY OF THE RECEIPTS AND EXPENDITURE OF THE ORDINARY REVENUE RECEIPTS Taxation — £ s. d. £ s. d. Customs .. .. 19,111,486 8 7 Beer duty .. .. 4,555,373 17 11 Sales tax .. .. .. .. 14,105,224 4 2 Film-hire tax .. .. 108,285 2 5 Highways 3,613,743 2 7 Stamp duty .. 9,624,255 13 6 Land-tax 916,119 16 0 Income-tax 49,007,671 12 0 Miscellaneous .. .. 19,578 15 8 101,061,738 12 10 Interest recoveries from trading activities, &c. 5,215,789 1 2 Profits of trading undertakings .. .. 2,197,300 6 1 Departmental receipts .. .. .. 13,047,757 3 3 Bank of New Zealand Act, 1945, section 8 : Stock issued .. 1,330 0 0 Finance Act, 1948, section 2—Stoek issued: Exchange adjustment .. .. .. .. .. .. 20,000,000 0 0 £141,523,915 3 4 £ s. d. Balance Ist April, 1948 .. .. .. .. 6,295,652 8 3 Surplus 1948-49 .. .. .. .. .. 2,630,761 12 8 £8,926,414 0 11 V

B—l [Pt. I]

CONSOLIDATED FUND FOR THE YEAR ENDED 31st MARCH, 1949 ACCOUNT EXPENDITURE Permanent appropriations— £ s. d. £ s. d. Civil List .. • - 98,922 8 8 Debt services— Interest and manage- £ s. d. ment .. 16,845,921 5 3 Repayments .. 9,183,155 16 1 26,029,077 1 4 Other special Acts .. .. .. 5,057,735 2 7 31,185,734 12 7 Payment for exchange adjustment .. .. .. 20,576,206 19 2 Annual appropriations— Social services .. .. .. 37,596,526 2 9 Other votes .. .. .. •• 49,534,685 16 2 87,131,211 18 11 138,893,153 10 8 Sirplus •• •• •• •• 2,630,761 12 8 £141,523,915 3 4 transfer to War Expenses Account (being surplus for year £ s. d. 1947-48) .. .. •• •• •• 1,785,712 10 9 Balance 31st March, 1949 .. .. •• •• 7,140,701 10 2 £8,926,414 0 11

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949

* Rebates in respect of motor-spirits used otherwise than as fuel for motor-vehicles in terms of section 6 of the Customs Amendment Act, 1939, amounted to £457,502 17s. sd. t £736,386 2s. lOd. of this amount consists of fees, fines, &c., which are not taxation.

RECEIPTS £ s. d. £ s. d. £ s. d. Balances at beginning of year— Cash 1,256,083 3 1 Investments .. 4,000,000 0 0 Imprests outstanding 1,039,569 5 2 fi 2Q5 8 % TAXATION Customs 19,111,486 8 7 Beer duty 4,555,373 17 11 Sales tax 14,105,224 4 2 Film-hire tax 108,285 2 5 Highways 3,613,743 2 7* t Stamp and death duties— Adhesive stamps 182,721 7 11 Duty on instruments 530,800 5 8 Estate duty 4,285,426 17 4 Succession duty 1,301,672 1 11 Gift duty 445,291 7 0 Fines and penalties 2,362 9 7 Impressed stamps 339,555 9 10 Licences to companies 115,983 10 6 Sharebrokers' licences 1,572 18 0 Duties payable by racing clubs 2,103,759 14 6 Amusements-tax 243,765 9 2 Lottery duty 28,649 8 6 , Overseas passenger duty 37,035 16 2 Miscellaneous 3,893 8 5 Receipts under section 4, Mortgagees' Indemnity (Workers' Charges) Act, 1927 1,765 9 0 Q fi24. fi Land-tax 916,119 16 0 Income-tax 49,007,671 12 0 Miscellaneous 19,578 15 8 Total, Taxation 101,061,738 12 10 INTEREST On Capital Liability— Postal and Telegraph (interest as determined under section 95 of the Post and Telegraph Act, 1928, at £3 10s. per cent, on the amount of the capital liability as at 1st April, 1948, together with interest v at the rate of £1 15s. per cent. on net additions to capital liability during the financial year)— Year 1948-49 659,045 0 0 Carried forward 659,045 0 0 107,357,391 1 1

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT

* See also £4,712 18s. under " Other Special Acts, Miscellaneous," Appropriation Act, 1926, s eetion 15.

EXPENDITURE PERMANENT APPROPRIATIONS £ s. d. .£ s. d. £ s. d. Under Special Acts of the Legislature CIVIL LIST (Presented in terms of Section 65 of the New Zealand Constitution Act, 1852, Imperial) Civil List Act, 1920 Part I Hie Excellency the Governor-General— Sir B. C. Freyberg, Y.C., K.C.M.G., K.C.B., K.B.E., D.S.O.— Salary, 1st April, 1948, to 31st March, 1949 .. Allowance, 1st April, 1948, to 31st March, 1949 .. 5,000 5,000 0 0 * 1 © © 10,000 0 0 Part II Establishment of the General Government— prime Minister, &c.— Right Hon. P. Fraser— Salary, 1st April, 1948, to 31st March, 1949 1,800 0 0 Minister of Finance, &e.— Right Hon. W. Nash — Salary, 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 200 0 0 0 0 Minister of Justice, &c.— Hon. H. G. R. Mason — Salary, 1st April, 1948, to 31st March, 1949 1,170 0 0 Minister of Railways, &c.— Hon. R. Semple— Salary, 1st April, 1948, to 31st March, 1949 House allowance, 1st April, 1948, to 31st March, 1949 .. 1,170 200 0 0 0 0 Siinister of Internal Affairs, &c.— Hon. W. E'. Parry— Salary, 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 200 0 0 0 0 Carried forward 7,080 0 0 10,000 § 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS Brought forward £ 659,045 s. 0 d. 0 £ . s. d. £ s. 107,357,391 1 d. 1 INTEREST—continued On Capital Liability—continued Under section 6 of the National Development Loans Act, 1941, as follows — Electric Supply Account — Year 1947-48 (balance) Year 1948-49 318,102 1,221,464 8 6 11 8 Housing Account — Year 1947-48 (balance) Year 1948-49 (on account) 126,989 416,439 16 18 11 3 Housing construction— Year 1948-49 (on account) Land for Settlements Account — Year 1946-47 (balance) Year 1947-48 (on account) 69,896 247,031 152,968 5 4 15 9 9 3 New Zealand National Airways Corporation— Year 1947-48 15,075 1 4 ' Maori land development and housing schemes — Years 1944—47 Year 1947-48 Nauru and Ocean Islands Account— Year 1943-44 (balance) Year 1944-45 Year 1945-46 Year 1946-47 Year 1947-48 (on account) 91,020 93,434 2,393 7,681 7,681 7,681 6,945 11 16 14' 15 15 15 12 3 4 10 6 6 6 5 3,443,852 19 2 On other Public Money— State Advances Corporation stock State's contribution to General Reserve Fund of State Advances Corporation (section 35 (2), State Advances Corporation Act, 1934) 1,149,013 104,437 13 0 8 4 ' | Investments made in respect of the— Ordinary Revenue Account Deposits Account Loans Redemption Account Public Account Cash Balance Investment Account 109 28,456 108 303,928 11 16 13 10 9 11 11 3 i | Capital moneys received from sale of Crown lands and paid into Land for Settlements Account (section 13, Land Laws Amendment Act, 1926) .. 80,844 11 3 Carried forward 1,666,898 18 1 3,443,852 19 2 107,357,391 1 1

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT— continued

EXPENDITURE Brought forward £ s. 7,080 0 d. 0 £ s. • 10,000 0 d. 0 £ s. d. PERMANENT APPROPRIATIONS —ctd. CIVIL LIST —continued Civil List Act, 1920 —continued Part II—continued Establishment of the General Government —continued Minister of Defence, &c.— Hon. F. Jones — Salary, 1st April, 1948, to 31st March, 1949 1,170 0 0 Minister of Industries and Commerce, &c.— Hon. A. H. Nordmeyer— Salary, 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 0 200 0 0 0 • f Minister of Lands, &c.— Hon. C. F. Skinner— Salary, 1st April, 1948, to 31st March, 1949.. 1,170 0 0 Minister of Labour, &c. — Hon. A. McLagan— Salary, 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 0 200 0 0 0 Minister of Agriculture, &c. — Hon. E. L. Cullen — Salary 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 0 200 0 0 0 Postmaster-General, &c.— Hon. F. Hackett— Salary, 1st April, 1948, to 31st March, 1949 House allowance, 1st March, 1948, to 31st March, 1948 1,170 0 Cr. 16 13 0 4 Minister of Health, &c.— Hon. M. B. HowardSalary, 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 0 200 0 0 0 - Carried forward 16,053 6 8 10,000 0 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS £ s. d. £ s. d. £ s. d„ Brought forward 1,666,898 18 1 3,443/852 19 2 107,357,391 1 1 INTEREST—continued On other Public Money—continued On accumulated funds of the Cheviot Estate Account, in terms of section 19 (4) of the Finance Act, 1930 (No. 2) .. 18,595 1 5 On value of Crown lands declared to be subject to the Land for Settlements Act, 1925, and former Lands for Settlements Acts (Land Laws Amendment Act, 1929, section 47) 8,477 12 0 On advances to local bodies under Main Highways Act, 1926 1,299 15 8 Loans to local bodies under Local Bodies Loans Act, 1908 17,590 14 6 Loan to Taieri River Trust in terms of section 3, Taieri River Improvement Amendment Act, 1939 3,525 0 0 Loans under section 26, Agriculture (Emergency Powers) Act, 1934 940 8 8 On miscellaneous advances— Maori Land Settlement Survey liens 936 9 5 Cook Islands Fruit Account 812 4 4 Niue Island Fruit Account 41 15 9 Eastbourne Borough Council for drainage-works 153 3 7 Mines Department for housing loans 12 14 8 Mines Department for various mining 315 12 7 enterprises Catchment Boards 2,717 2 5 Hospital Boards 24,620 3 11 Land Settlement Associations 12,220 11 7 Lower Clutha River Trust 61 15 6 Rotorua Borough Council 877 10 0 Rotorua Golf Club 31 8 0 Village-homestead Settlement Scheme 99 6 8 Miscellaneous interest on— Debentures under the Hutt Road Act, 1915 .. 2,931 0 0 Deposits by • High Commissioner .. 43 16 11 Purchase-moneys in connection with sales of land and buildings— Agriculture Department 1,019 6 1 Public Works Department 88 4 5 Purchase-money in connection with sales of plant: Public Works Department 4,623 16 1 Carried forward 1,768,933 12 3 3,443,852 19 2 107,357,391 1 1

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT— continued

EXPENDITURE . Brought forward £ s. 16,053 6 d. 8 £ s. 10,000 0 d. 0 £ s. d, PERMANENT APPROPRIATIONS —ctd. CIVIL LIST —continued Civil List Act, 1920—continued Part II —continued Establishment of the General Government —continued Minister of Education, &c.— Hon. T. H. McCombs— Salary, 1st April, 1948, to 31st March, 1949.. House allowance, 1st April, 1948, to 31st March, 1949 1,170 0 200 0 0 0 Member of the Executive Council representing the Maori Race — Hon. E. T. Tirikatene — Salary, 1st April, 1948, to 31st March, 1949.. 990 0 0 - Member of the Executive Council without Portfolio— Hon. D. Wilson — House allowance, 1st April, 1948, to 31st March, 1949 200 0 0 Civil List Act, 1920, and Civil List Amendment Act, 1936, Section 6 \ Parliamentary Under-Secretaries — A. G. Osborne— Salary, 1st April, 1948, to 31st March, 1949 .. House allowance, 1st April, 1948, to 31st March, 1949 800 0 200 0 0 0 M. Moohan — Salary, 1st April, 1948, to 31st March, 1949 allowance, 1st April, 1948, to 31st March, 1949 800 0 200 0 0 0 H. E, Combs— Salary, 1st April, 1948, to 31st March, March, 1949 House allowance, 1st April, 1948, to 31st March, 1949 800 0 200 0 0 0 Carried forward 21,613 6 8 10,000 0 0

B—l [Ft. I].

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS Brought forward INTEREST —continued On other Public Money—continued Miscellaneous interest on—continued Crown's proportion of Greymouth Harbour Board special coal rate : Credited as interest on sums of £114,439 Is. and £27,000 in terms of section 12 of the Greymouth Harbour Board Act, 1884 .. Air Department —- Amounts due to Department ' Total, Interest PROFITS FROM TRADING UNDERTAKINGS Bank of New Zealand — Final dividend, year 1947-48, and interim dividend, 1948-49 New Zealand Woolpack and Textiles, Ltd.— Dividends received in terms of Finance Act, 1940, section 15 .. Post and Telegraph Department— Post Office Savings-bank profits received from the Post Office Account in terms of section 95 (1) (c), Post and Telegraph Act, 1928— For year 1945-46 For year 1946-47 Profits other than Post Office Savingsbank profits received from the Post Office Account in terms of section 95 (1) (d), Post and Tele- _ graph Act, 1928— For year 1945-46 For year 1946-47 (on account) .. Reserve Bank of New Zealand — Profits credited in terms of section 36 (c), Reserve Bank of New Zealand Act, 1933: for year 1947-48 Carried forward £ s. d. 1,768,933 12 3 2,999 9 9 3 0 0 £ s. d. 3,443,852 19 2 1,771,936 2 0 £ s. d. 107,357,391 1 1 5,215,789 1 2 419.592 12 7 6,212 15 0 290,834 5 11 296,478 6 2 419,133 8 4 103,521 13 10 645.593 8 8 2,181,366 10 6 112,573,180 2 3

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT— continued

EXPENDITURE £ s. d. £ s. d. £ s. d. Brought forward 21,613 6 8 • 10,000 0 0 PERMANENT APPROPRIATIONS —ctd. CIVIL LIST—continued Civil List Act, 1920 —continued i Part II—continued Parliamentary Under-Secretaries —contd. D. W. Coleman — Salary, 1st April, 1948, to 31st March, 800 0 0 1949 .. ... * House allowance, 1st April, 1948, to 200 0 0 31st March, 1949 22 613 6 8 Part III 1 Section 16 — I Salaries, Speakers of both Houses and 2,843 12 1 Chairmen of Committees j Allowance to Chairman of Committees . of House of Representatives under Finance Act (No. 3), 1944, section | 25 (2) .. 150 0 0 Section 17-— Salaries, Members of the Legislative Council .. 11,782 18 8 Salaries, Members of the House of Representatives .. .. .. 30,000 0 0 Allowance to Members of House of Representatives under Finance Act 15,000 0 0 (No. 3), 1944, section 24 (2) 59,776 10 9 Part V ! Maori Affairs — Transfer to vote, " Health," being Civil List contribution towards —• Maori medical services 3,000 0 0 Medical services : Maori nurses 600 0 0 Contributions towards cost of building Maori war canoes 79 15 0 "■Contributions towards costs of presenta1 1 0 tions to eminent Maori leaders Contributions towards costs of renovations and extensions to historical 500 0 0 Maori churches and buildings Fares for Maoris 86 3 8 Flags for Maoris 13 5 10 Flood relief 750 0 0 Carried forward 5,030 5 6 92,389 17 5

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS £ s. d. £ s. d. £ s. d. Brought forward 2,181,366 10 6 112,573,180 2 3 PROFITS FROM TRADING UNDERTAKINGS—continued State Advances Corporation.— Profits credited in terms of section 41 (1), State Advances Corporation Act, 1936 : for year 1947-48 .. 15,933 15 7 9 1Q7 onn « i A j 11/ i j UUU O JL DEPARTMENTAL RECEIPTS Agriculture Department— Meat Act, 1939 61,501 9 7 Contributions from pig and poultry industries 10,697 3 8 Farm areas field crops, seed-testing, &c. 67,379 19 4 For services rendered to other Departments 36,704 3 4 Recoveries of Milk Marketing expenditure 49,135 15 1 Journal of Agriculture 24,081 8 0 Recoveries from dairy factories and produce grading 88,589 1 7 Stations and farms 26,589 2 3 Te Kauwhata 36,864 0 7 General 68,863 5 7 Air Department 171,317 14 3 Army Department 186,630 1 5 Audit Department 42,515 10 9 Census and Statistics Department 670 19 6 Crown Law Office 250 2 8 Customs Department— Expenses of collecting petrol-tax and export levies 10,819 19 11 Customs Act, 1913 22,673 13 0 General 18,976 19 10 Education Department— Section 30, (2), Education Reserves Act, 1928 — Transfer from Primary Education Endowments Deposit Account 112,603 7 7 General 90,041 1 7 Electoral Department 383 9 0 External Affairs Department 60,103 5 9 Printing and Stationery Department .. 708,105 13 11 Health Department— Nurses and Midwives Registration Act, 1925 2,815 9 10 Institutional recoveries, Queen Mary Hospital, Hanmer 29,256 8 10 Sales of sera, textiles, &c. 151,745 6 3 Local bodies' contributions for sanitary inspection service 20,880 1 10 Recoveries in connection with nursing services 29,433 19 3 Carried forward 2,129,628 14 2 114,770,480 8 4

B—l [Ft. I]

ORDINARY REVENUE ACCOUNT—continued

EXPENDITURE £ s. d. £ s. d. £ s. d. Brought forward 5,030 5 6 92,389 17 5 PERMANENT APPROPRIATIONS —ctd. CIVIL LIST—continued Civil List Act, 1920—continued Part V —continued Maori Affairs —continued Food, clothing, &e., supplied to Maoris 24 5 11 Funeral and tangi expenses of Maoris .. 135 15 3 Grant for Maori welfare activities 25 0 0 Grants towards costs of improvements to Marae burial-grounds and other tribal property 50 0 0 Maori meeting expenses ' 50 0 0 Maori hostels 1,058 7 0 Sundry health and medical expenses .. 150 0 0 Water-supply, Ta Hapua 8 17 7 JLJL *J Total, Civil List 98,922 8 8 DEBT SERVICES Interest — London 3,179,256 7 0 London (paid in New Zealand) 93,807 17 0 Australia 38,698 14 2 New Zealand 13,308,197 6 11 16 619 960 5 1 Amortization of debt— Transfer to Loans Redemption Account — New Zealand Loans Amendment Act, 1947— Section 11 (c) .. 470,000 0 0 Section 11 (c) .. 4,200,000 0 0 Section 14 4,513,155 16 1 Administration and management — New Zealand Loans Act, 1932, section 62 (3)— ■Stamp duty on transfers of New Zealand Consolidated Stock 25,977 7 3 New Zealand Loans Act, 1932, section61: Charges and expenses of raising and repaying loans— New issues 86,770 15 11 Renewals, conversions, and redemptions 45,935 14 2 Carried forward 158,683 17 4 25,803,116 1 2 98,922 8 8

B—l [PT. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949—continued

RECEIPTS £ s. d. £ s. d. £ s. d. Brought forward 2,129,628 14 2 114,770,480 8 4 DEPARTMENTAL RECEIPTS— continued Health Department—continued Sale of farm products, &e. 29,844 15 0 Sale of reserve stocks of drugs, &c. .. 10,027 17 9 General 82,259 5 9 Housing Department— Rents, royalties, &c., from lands 15,002 5 0 General 4 1 9 Industries and Commerce Department— Other salaries and administrative costs 17,015 19 7 Fees, levies, and sales 299,555 9 9 General 13,149 14 0 Internal Affairs Department— Auctioneers' licences 19,967 5 0 Contributions to cost-of-living bonus to annuitants 64,828 9 8 Deer-destruction 11,734 3 9 Fees, &c., Maori Land Amendment / Act and Maori Land Claims Adjustment Act, 1926 5,325 19 3 Recoveries on account of refugees .. 1,496 6 9 Services rendered to other Departments 70,700 7 9 General 63,044 5 6 Island Territories Department— New Zealand Reparation Estates.. 312,224 4 11 Export of bananas from Samoa .. 95,083 8 8 " Maui Pomare " 47,939 7 5 General 214 19 3 Justice and Prisons Department— Births, deaths, and marriages 33,473 17 0 | Court fees, fines, and bankruptcy commission .. .. 231,139 5 2 Patents, Designs, and Trade-marks Act, 1921-22 .. 24,323 2 7 Receipts from institutional activities 114,258 5 1 General 15,536 6 2 Labour and Employment Department— Accommodation receipts 121,760 18 4 Factories Act, 1946 7,622 2 9 Home Aid Service 10,074 5 5 Weights and Measures Act, 1925 13,703 14 2 Immigration receipts .. 37,170 11 3 General 7,514 18 9 Land and Income Tax Department— Unclaimed money under Unclaimed Moneys Act, 1908, section 6 12,167 0 0 General 2,386 18 2 Carried forward 3,920,178 5 6 114,770,408 8 4

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT —continued

EXPENDITURE Brought forward £ s. .158,683 17 d.| 4 £ s. 25,803,116 I d. 2 £ s. 98,922 8 d. 8 PERMANENT APPROPRIATIONS —ctd. DEBT SERVICES—continued Administration and management—contd. New Zealand Loans Act, 1932, section 24 U)Amount paid to Bank of England for year ended 31st October, 1948, for management of New Zealand Government loans: consolidated stock Amount paid to the Reserve Bank of New Zealand for year ended 31st March, 1949, for management of New Zealand Government loans .. 23,061 9 44,215 13 1 9 225,961 O 2 Total, Debt Services 26,029,077 1 4 OTHER SPECIAL ACTS Motor-spirits Taxation Act, 1927, Sections 7 and 9— Cost of making refunds and payments to boroughs 205,324 19 6 Advances to other Governments Finance Act, 1930 (No. 2), section 7 — Balances outstanding at 31st March, 1949. £ s. d. 180 1 4 Canada 135 3 1 Ceylon Commonwealth of 31,609 7 6 Australia Federated Malay v 44 19 2 States Cr. 5,437 10 3 Fiji 59 12 6 Hong Kong Imperial Govern51,423 111 ment.. 243 3 7 India 675 8 6 Kenya Cr. Cr. Cr. Cr. 533 9 156 15 8,495 12 17 16 9 13 44 16 56,886 13 25 19 667 19 2 11 0 6 0 6 4 7 11 ' Carried forward Cr. 65,306 4 11 205,324 19 6 26,127,999 10 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949—continued

RECEIPTS £ s. d. £ s. d. £ s. d„ Brought forward 3,920;178 5 6 114,770,480 8 4 DEPARTMENTAL RECEIPTS— continued Lands and Survey Department— Rents, royalties, &c., from lands — Crown lands 346,745 13 11 Hauraki Plains lands 4,538 13 2 Scenery preservation receipts 1,044 5 0 Swamp-drainage lands 350 13 6 Hauraki Plains Act, 1926— Rates 3,318 15 10 Miscellaneous receipts 4,175 18 11 Rangitaiki Land Drainage Act, 1910 — Rates 27,638 13 0 Miscellaneous receipts 7,852 17 6 Swamp Drainage Act, 1915 — Rates 8,081 5 9 Miscellaneous receipts 9,284 2 9 Managers' salaries, development blocks 24,812 8 1 Administration expenses of sundry / accounts 16,407 3 9 Services rendered to Lands and Deeds Department 25,975 4 5 General 52,305 0 9 Legislative Department 1,839 1 3 Marine Department — Charter of lighthouse tender 10,335 2 8 Inspection of Machinery Act, 1928 .. 29,384 4 2 Rents of foreshores, royalties, &c. .. 2,823 11 9 Sale of oysters 9,963 2 2 Shipping and Seamen Act, 1908 85,577 17 8 Westport Harbour 34,026 14 7 Barque " Pamir " 45,971 6 6 General 30,967 0 6 Mines Department— Rents, royalties, &c., from lands .. 14,386 4 1 Hire of drills, &c. 1,390 5 1 Prospecting and search of minerals .. 20,959 14 0 Rescue-station levy .., 11,515 17 10 General 2,926 9 7 Maori Affairs Department— Fees collected in stamps under provisions of the Maori Land Act, 1931 7,808 3 1 Administration expenses — Maori Land Boards 7,779 0 0 Maori Trustee 12,200 0 0 General 4,979 4 0 Repayment of advances: Maori Land Settlement Account 1,800 0 0 Navy Department 151,913 2 9 Carried forward •• 4,941,255 3 6 114,770,480 8 4

JB—l LPt. I]

ORDINARY REVENUE ACCOUNT —continued

EXPENDITURE £ s. d. £ s. d. £ s. d. Brought forward Cr. 65,306 4 11 I 205,324 19 6 26,127,999 10 0 PERMANENT APPROPRIATIONS —ctd. OTHER SPECIAL ACTS—continued j Advances to other Governments — continued Balances outstanding at 31st March, 1949. £ s. d. 110 Nigeria Cr. 110 Sarawak 264 14 10 46 10 0 Tonga Cr. 110 Uganda Union of South Cr. 1,530 0 8 29 3 4 Africa Cr. 22,151 7 7 12,384 12 5 Western Pacific .. Cr. 88,725 0 4 £91,394 14 1 Total, Advances Superannuation • Superannuation Act, 1947— Section 86 (1) (a) — Subsidy to Government Superannuation Fund 1,530,000 0 0 Section 86 (1) (b) — Contribution towards deficiency in Government Superannuation Fund 1,000,000 0 0 2 <W) 0 0 ? $ vvU yJ v War Expenses Account War Expenses Act, 1939, section 2 (4) (e) — Transfer to War Expenses Account .. 2,000,000 0 0* Miscellaneous Appropriation Act, 1925, section 15— Payments to Imperial War Graves Commission 19,028 15 0 Appropriation Act, 1926, section 15— Travelling-expenses of His Excellency the Governor-General and staff in excess of amount provided under the Civil List Act, 1920 4,712 18 0 Bank ofNew Zealand Act, 1945, section 7— Costs, charges, and expenses of acquiring Bank of New Zealand shares 43 2 6 Purchase of Bank of New Zealand shares 3,381 13 0 Finance Act, 1932, section 55— Exchange on remittances overseas .. 150,745 9 8 Carried forward 177,911 18 2 4,646,599 19 2 26,127,999 10 0 * This amount is in addition to £1,785,712 10s. 9d. shown as transferred on page 27.

B—l [PT. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS £ s. d. £ s. d. £ s. d. Brought forward 4,941,255 3 6 114,770,480 8 4 DEPARTMENTAL RECEIPTS— continued Police Department— Arms Act. 1920 4,171 5 0 Proceeds of sales of goods (Police Force Act, 1947, section 42 (2)) 1,606 18 8 Recoveries for services rendered by police 2,161 13 0 General 8,516 16 5 Prime Minister's Department—Sale of photographs and films 25,812 19 4 General 870 14 9 Public Service Commission 1,002 1 6 Public Works Department— Farm workers' accommodation 10,035 11 2 Receipts from maintenance of public works and services 4,901,659 5 11 Receipts from highways maintenance 254,452 7 5 Receipts from water-supply and irrigation schemes 47,546 17 4 Rents of buildings 137,588 1 3 Rents, royalties, &c., from lands .. 821 7 0 General 3,855 1 11 Rehabilitation Department 1,952 1 10 Scientific and Industrial Research Department — Recoveries on account of research .. 39,631 10 8 Recoveries, Dominion Physical Laboratory 28,609 1 4 General 29,700 17 2 Social Security Department — Refunds and recoveries of war and other pensions 10,640 15 7 General .. .. 2,650 15 5 Stamp Duties Department— Land Registry and Deeds Register Office fees .. 76,058 10 6 General 410 6 4 State Forests Service — Receipts from utilization units 490,098 8 7 General 6,145 19 2 State Hydro-electric Department 4,238 8 4 Tourist and Health Resorts Department — Tourist and Health Resorts Control Act, 1908 374,871 16 5 General .. 23,676 11 1 Transport Department— Transport Licensing Act, 1931 70,604 5 9 Services of officers controlling traffic 26,823 13 6 General 1,363 11 3 Carried forward 11,528,832 17 1 114,770,480 8 4

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT— continued

EXPENDITURE £ s. d. £ s. d. £ s. d. Brought forward 177,911 18 2 4,646-, 599, 19 2 26,127,999 10 0 PERMANENT APPROPRIATIONS —ctd. OTHER SPECIAL ACTS —continued Miscellakeou s—continued Finance Act (No. 3), 1934, section 8— Interest on income-tax paid in advance 43,667 10 11 Finance Act (No. 2), 1935, section 17 — Refunds to racing clubs of proportion of totalizator duty 51,265 0 9 Finance Act (No. 2), 1943, section 7— Disbursements made on behalf of diplomatic institutions 263 16 4 Finance Act, 1946, section 20— Salary of Controller and Auditor-General 1,500 0 0 Finance Act, 1946, section 19 (1) — Salaries of Judges of the Supreme Court 26,573 3 3 Finance Act, 1948, section 3 (4) — Purchase of Bank of New Zealand shares 10,198 3 2 Industrial Conciliation and Arbitration Act, 1925, section 64— Salaries, Judges of the Arbitration Court 4,487 14 2 Industrial Conciliation and Arbitration Amendment Act, 1947, section 2— Salaries, Deputy Judges of the Arbitration Court 4,953 4 2 Judicature Act, 1908, sections 12-14— Superannuation allowances, retired Judges of the Supreme Court 6,947 18 0 Land Act, 1924, sections 139 and 358— Amount paid by Receivers of Land Revenue into Local Bodies' Deposit Accounts for payment to local authorities in respect of rents, royalties, &c. (" thirds," " fourths," and " halves ") 2,583 0 5 Lands Valuation Act, 1948, section 6 (1) — Salary of Judge of Land Valuation Court 475 15 8 Travelling allowance of Judge of Land Valuation Court 75 12 0 Local Government Commission Act, 1946, section 4 — Salary of Chairman of Commission .. 2,250 0 0 Magistrates' Court Act, 1947, section 6 (1) — Salaries of Stipendiary Magistrates' .. 5,926 18 0 Maori Purposes Act, 1931 — Saction 51— Annual payment to Arawa District Trust Board for the benefit of the Arawa Tribe 6,000 0 0 Section 54— Annual payment to Tuwharetoa Trust Board for benefit of Tuwharetoa Tribe 3,000 0 0 Carried forward 348,079 15 0 4,646,599 19 2 26,127,999 10 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS 1 £ s. d. £ s. d. £ s. d. Brought forward 11,528,832 17 1 114,770,480 8 4 DEPARTMENTAL RECEIPTS— continued Treasury Department— Exchange, commission, and discount 26,420 16 2 Unclaimed moneys 18,185 7 3 Recovery of Government Superannuation Fund administrative expenses 27,887 12 2 Services rendered by Government Actuary's Office 6,516 2 0 Stabilization subsidies 1,246,120 9 9 General 39,543 14 2 Valuation Department— Valuation of Land Act, 1925 85,481 4 11 General 68,768 19 ,9 TVvPAT TItTP A"R r P1fTR v \r r F' AT. *R."ET r E , TP r PCi 04-7 757 3 JLOjvrx# y i fJ t O U Total, Revenue 121,522,585 3 4 Bank of New Zealand Act, 1945, section 8— Stock issued 1,330 0 0 Finance Act, 1948, section 2— Stock issued for payment of liability to Reserve Bank due to alteration of exchange-rate 20,000,000 0 0 Total Receipts •. 141,523,915 3 4 Carried forward 147,819,567 11 7

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT— continued

EXPENDITURE £ s. d. £ s. d. £ s. d. Brought forward 348,079 15 0 4,646,599 19 2 26,127,999 10 0 PERMANENT APPROPRIATIONS —ctd. OTHER SPECIAL ACTS—continued Miscellaneous—continued Masterton Licensing Trust Act, 1947, section 37 (3) — Advances to the Trust to provide for preliminary expenses 30,000 0 0 Ngaitahu Claim Settlement Act, 1944, section 2— Annual payment in respect of, settlement of claim for £300,000 10,000 0 0 Public Revenues Act, 1926, section 151— Free issue of official postage-stamps to members of the House of Representatives and to members of the Legislative Council 3,248 6 9 Public Service Amendment Act, 1946 — Section 4— Salaries of Public Service Commission 5,041 4 0 Servicemen's Settlement and Land Sales Act, 1943, section 5— ' Salary of Judge of Land Sales Court .. 1,774 4 4 Servicemen's Settlement and Land Sales Amendment Act, 1946, section 4 (3)— Refunds of excess consideration 325 0 0 Taranaki Maori Claims Settlement Act, 1944, section 2— Annual payment to Taranaki Maori Trust Board 5,000 0 0 Waihou and Ohinemuri Rivers Improvement Act, 1910, section 17 (4) {d), and Appropriation Act, 1916, section 27— Contributions towards interest and cost of administration and maintenance of Waihou and Ohinemuri Rivers Improvement Works : on account of year 1947-48 1,666 13 4 Waikato-Maniapoto Maori Claims Settlement Act, 1946— Tainui Maori Trust Board— Annual payment under section 3 (1) .. 5,000 0 0 Annual payment under section 3 (2) (b) 1,000 0 0 "Total, Miscellaneous 411,135 3 5 Total, other Special Acts 5,057,735 2 7 Exchange Finance Act, 1934, section 4— Payment to Reserve Bank for liability, due to alteration in the rate of exchange 20,576,206 19 2 Total, Permanent Appropriations .. •• £51,761,941 11 9

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS 1 £ s. d. | £ 8. d. £ s. d. Brought forward . 147,819,567 11 7 Carried forward | 147,819,587 11 7

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT— continued

EXPENDITURE ANNUAL APPROPRIATIONS £ s. d. £ _ s. d. £ s. d. Legislative Prime Minister's Department External Affairs Finance— Treasury Stabilization Customs Land and Income Tax Stamp Duties .. Audit 354,095 11,687,136 329,712 731,771 191,866 108,419 15 18 13 14 18 4 6 7 4 5 0 5 177,521 221,448 621,151 13,403,003 5 19 2 4. 9 4 7 3 General Administration— Public Service Commission Internal Affairs Island Territories Printing and Stationery Marine Labour and Employment Maori Affairs Valuation Electoral Census and Statistics Rehabilitation 81,413 1,417,934 663,233 676,010 480,570 1,479,144 521,219 220,557 20,093 76,728 349,304 5 19 13 4 7 17 2 8 19 15 5 6 7 10 5 2 10 4 4 8 11 2 5,986,210 19 9 Law and Order— Justice and Prisons Crown Law Police 605,948 13 13,679 5 1,073,999 5 3 8 4 1,693,627 4 3 Defence— Navy Army Air 2,300,532 2,229,875 5,857,932 14 17 10 4 10 6 10 388 341 2 8 6 Maintenance — Maintenance of Public Works and Services Highways Maintenance 6,759,475 3,920,771 6 10 10 8 XV * J *JjCX 10,680,246 17 Development of Primary and Secondary Industries— Lands and Survey Forest Administration Agriculture Scientific and Industrial Research .. Mines Transport Industries and Commerce Tourist and Health Resorts 1,238,623 16 10 810,658 13 11 1,844,630 19 8 774,433 2 11 132,437 19 2 317,738 6 3 520,270 18 10 596,540 13 6 6,235,334 11 1 Carried forward 1 49,406,885 J 2"

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949—continued

RECEIPTS £ s. d. .£ s. d. i £ s. d. Brought forward 147,819,567 11 7 Public Revenues Act, 1926, section 41 — Treasury bills issued 6,000,000 0 0 Carried forward 1 153,819,567 11 7

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT—continued

EXPENDITURE £ s. d. £ s. d. £ s. d. Brought forward 49,406,885 7 2 ANNUAL APPROPRIATIONS —continued Social Services— Health 8,081,457 4 5 Education.. 9,588,987 19 3 War and other Pensions 4,926,080 19 1 Social Security (transfer to Social Security Fund) 15,000,000 0 0 37 596 526 2 9 Unauthorized Expenditure— Services not provided for 127,800 9 0 Total, Annual Appropriations 87,131,211 18 11 Total, Permanent Appropriations .. 51,761,941 11 9 /frnrn "nsjoro 9Q \ page uO) £ s. d. £ s. d. £ s. d. Total, Expenditure i 138,893,153 10 8 Public Revenues Act, 1926, section 41— Treasury bills redeemed 6,000,000 0 0 War Expenses Act, 1939, section 2 (4) (e) — Transfer to War Expenses Account .. *1,785,712 10 9 Balances at end of year— Cash 987,619 19 4 Investments .. .. 5,500,000 0 0 Imprests outstanding— Vote — Prime Minister's Department 1,014 9 6 External Affairs 18,364 10 0 Treasury 597 0 0 Stabilization .. .. 8,017 15 0 Customs .. .. 897 14 5 Internal Affairs 14,839 3 0 Island Territories 79,245 15 11 Printing and Stationery 6,626 0 0 Marine 1,402 18 4 Labour and Employment 9,136 17 2 Valuation 147 3 2 Justice and Prisons 1,967 4 10 Police 382 3 6 Navy 65,523 10 4 Army 34,090 6 3 x Air 15,744 1 11 J Maintenance of Public Works and Services 132 6 0 Agriculture 1,761 13 0 Carried forward 259,890 12 4 6,487,619 19 4 146,678,866 1 5 * A further amount of £2,000,000 transferred to War Expenses Account is included under heading " Other Special Acts " on page 19.

B—l [Pr. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS Brought forward £ s. d. £ s. d. £ s. d. 153,819,567 11 7 Total £153,819,567 11 7 =s==aa====i-5==================

B—l [Pt. I]

ORDINARY REVENUE ACCOUNT

EXPENDITURE £ s. d. £ - s. d. £ s. d. Brought forward 259,890 12 4 6,487,619 19 4 146,678,866 1 5 Balances at end of year —continued Imprests outstanding—continued i V ote —continued 1 Scientific and Industrial Research 8,365 16 6 Mines.. 5,262 10 10 Transport 55 0 0 Industries and Commerce 35,913 19 10 Tourist and Health Resorts 10,847 11 8 Health 27,420 16 8 Education 5,294 19 0 War and other Pensions 98,479 9 11 General imprest .. .. 196,147 12 v 3 General services 5,403 1 10 \ JtJtJ j V/Oi xv" 11/ ; 7,140,701 10 2 Total i£153,819,567 11 7

B—l [Ft. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS . £ s. d. 1 £ s. d. Balances at beginning of year— Cash 247,234 10 7 Investments .. 9,632,345 0 0 Imprests outstanding 409,182 6 0 10,288,761 Ifi rr 1U • Balances on Receipts and i 1st April, : 1948. Transfers £ s. d. £ s. d. Anderson Gift Trust Account 7,460 14 8 407 13 11 Canteen Profits 5,158 6 8 1,985 0 0 Commercial Gardens Registration Act, 1943 569 5 4 3,324 19 5 Cook Islands Fruit Account 10,094 15 2 58,281 6 9 Deposits on Contracts 10 0 0 75 0 O Education Reserves Act, 1928— Sales and Acquisition of Land under section 27— Primary-education endowments 68,885 14 3 1,245 17 2 Secondary-education endowmentsAuckland Provincial District 8,586 0 1 10 0 0 Taranaki Provincial District 269 14 0 Hawkes Bay Provincial District .. 24 7 2 505 0 0 Nelson Provincial District 132 10 0 Otago Provincial District 381 0 0 Westland Provincial District 150 0 0 Primary Education Endowment Deposit Account 8,434 18 10 112,793 18 0 Secondary Education Endowment Deposit Account— Auckland Provincial District 1,978 2 4 3,998 12 2 Taranaki Provincial District 658 11 3 1,287 3 7 Wellington Provincial District 2,488 15 9 3,410 3 6 Hawkes Bay Provincial District 1,319 14 3 1,853 0 0 Nelson Provincial District . . .. 220 14 0 478 1 8 Marlborough Provincial District .. .. 34 19 6 65 6 1 Otago Provincial District .. .. .. 1,002 4 5 2,702 8 5General Assembly Library Fund .. .. 75 0 0 General Purposes Relief Account .. .. 232,906 13 6 8,180 13 8 Gold Duty Suspense Account 350 5 10 192 12 7 Greymouth and Hokitika High Schools Act, 1883 90 7 0 520 10 10 Hides Emergency Regulations 85,676 14 7 1,059,399 6 10 Honey-export Control Act, 1924 36 7 0 102 11 8 Hospitals and Charitable Institutions Act, 1926 660 1 10 1,310 1 11 Hunter Soldiers' Assistance Trust Account 4,528 3 0 618 7 10 Immigration Restriction Act, 1908 17,380 0 0 8,844 0 0 Imperial Pensions 132,795 12 11 438,606 8 11 Income-tax, Deferred Maintenance 1,411,574 7 9 337,019 12 3 Interest on Cash Balance Investment Account .. 19,506 7 0 313,411 0 5 George V Memorial Fund 58,496 16 3 2,089 6 0 Land Agents Act, 1921-22 505 5 0 Linen Flax Growers' Insurance Fund 6 9 7 Local Bodies Account— Goldfields revenue ... 4,607 985 8 3 10,419 13 7 Gold duty 0 8 1,797 9 6 Fees and fines 10,476 0 0 23,187 10 0 Endowments of land 3,785 11 8 3,897 1 10 Carried forward 2,102,095 9 6 2,402,227 8 6

B—l [Pt. I]

DEPOSITS ACCOUNT

EXPENDITURE Payments and Transfers. 1 Balances on 1 31st March, 1949. I £ s. d. £ S. d. Anderson Gift Trust Account 75 16 6 7,792 12 1 Canteen Profits 2,532 7 6 4,610 19 2 Commercial Gardens Registration Act, 1943 2,318 2 9 1,576 2 0 Cook Islands Fruit Account 62,281 6 11 6,094 15 0 Deposits on Contracts 45 0 0 40 0 0 Education Reserves Act, 1928 — Sales and Acquisition of Land under section 27— Primary-education endowments 15 0 0 70,116 11 5 Secondary-education endowments— Auckland Provincial District 8,596 0 1 Taranaki Provincial District 269 14 0 Hawkes Bay Provincial District 529 7 2 Nelson Provincial District 132 10 0 Otago Provincial District 381 0 0 Westland Provincial District 150 0 0 Primary Education Endowment Deposit Account 119,145 16 6 2,083 0 4 Secondary Education Endowment Deposit Account— Auckland Provincial District 4,327 14 5 1,649 0 1 Taranaki Provincial District 1,357 12 5 588 2 5 Wellington Provincial District 4,167 12 3 1,731 7 0 Hawkes Bay Provincial District 2,260 4 6 912 9 9 Nelson Provincial District 459 14 10 239 0 10 Marlborough Provincial District 69 1 7 31 4 0 Otago Provincial District 2,632 7 9 1,072 5 1 General Assembly Library Fund 75 0 0 General Purposes Relief Account 9,038 16 6 232,048 10 8 Gold Duty Suspense Account 350 5 10 192 12 7 Greymouth and Hokitika High Schools Act, 1883 469 6 11 141 10 11 Hides Emergency Regulations 1,066,668 9 3 78,407 12 2 Honey-export Control Act, 1924 138 18 8 Hospitals and Charitable Institutions Act, 1926 883 12 7 1,086 11 2 Hunter Soldiers' Assistance Trust Account 864 12 9 4,281 18 1 Immigration Restriction Act, 1908 15,534 0 0 10,690 0 0 Imperial Pensions 441,329 14 9 130,072 7 1 Income-tax, Deferred Maintenance 223,516 3 10 1,525,077 16 2 Interest on Cash Balance Investment Account 321,304 1 9 11,613 5 8 King George V Memorial Fund 24,584 11 5 36,001 10 10 Land Agents Act, 1921-22 505 5 0 Linen Flax Growers' Insurance Fund 6 9 7 Local Bodies Account — Goldfields revenue 10,771 14 5 4,255 7 5 Gold duty 2,771 13 3 10 16 11 Fees and fines 19,603 0 0 14,060 10 0 Endowments of land 1,855 13 8 5,826 19 10 Carried forward .. .. .. 2,341,383 14 10 1 2,162,939 3 2

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the CONSOLIDATED FUND for the Year ended 31st March, 1949— continued

RECEIPTS Balances on Receipts and 1st April, 1948. Transfers. £ S. d. £ S. d. Brought forward 2,102,095 9 6 2,402,227 8 6 Marine Insurance (War Risks) Fund 452,430 15 3 Meat Act, 1939 1,087 0 1 15,053 2 6 Mining Act, 1926 132 19 6 71 2 10 Miscellaneous .. .. 1,520,120 3 5 1,284,287 8 6 Money-order Settlement Account 41,775 4 11 3,720 10 5 Navy Office Deposit Account 3,506 4 10 5,960 10 10 Nelson Rifle Prize Fund \ 1,352 12 0 30 0 0 New Zealand Reparation Estates 1,320 5 0 17,020 13 5 New Zealand University Endowment— Westland 5,935 6 10 215 6 8 Niue Island Fruit Account 2,832 17 2 1,292 4 2 North Island Experimental Dairy School 11,527 2 8 621 8 0 Official Assignees' Balances 5,055 0 0 11,300 0 0 Orchard-tax Act, 1927 525 7 1 2,165 2 3 Payments through the High Commissioner 269,101 10 7 515,941 19 11 Promotion of Health Fund 39,650 17 0 47,894 0 2 Public Service Association Account 178 6 3 1,660 18 10 Rabbit Nuisance Amendment Act, 1947 .. 36,707 1 0 Receipts by the High Commissioner for Payment in New Zealand 7,124 5 7 120,469 11 7' Receiver-General's Deposit Account 655,000 0 0 50,000 0 0 Regimental Funds 19,658 19 7 201,481 14 3 Regimental Funds Government Grants Trust Account 1,461 7 5 Remittances from R.N.ZA.F. Personnel 145 0 11 9,976 7 11 Remittances from Soldiers Overseas 1,678 5 10 42,031 9 1 Remittances to R.N.ZA.F. Personnel 391 4 1 1,520 5 1 Remittances to Soldiers 3,884 15 0 3,224 18 9 R.N.ZA.F. Central Deposits Account 25,078 5 2 5,256 6 10 R.N.Z.A.F. Welfare Deposits Account 22,481 12 9 694 17 1 Rural Reticulation Fund 48,428 5 3 26,163 4 9 Samoan Notes Security Account ... .. 71,400 0 0 Samoan Treasury Account 646,507 5 11 150,276 9 3 Scientific and Industrial Research Department .613 17 10 6,078 10 10 Silver and Bronze Coin Account 2,961,170 10 4 727,477 11 7 Taranaki Scholarships Endowment Account 439 8 6 931 16 11 Tauranga Educational Endowment Reserves Act.. 632 6 3 Trustee Act, 1908 7,876 17 3 1,114 11 6 Unclaimed Earnings 1,553 7 2 2,309 12 4 United States Property Educational and Cultural Fund 1,335,531 15 6 Unpresented Cheques 4,347 15 0 3,942 0 2 Victoria College Endowment Deposit Account 16 12 6 22 10 0' War Assets Realization Board Deposit Account .. 14,712 16 8 19,876 10 0 * £10,288,761 16 7 5,719,017 5 11 Balance brought forward 10,288,761 16 7 Total £16,007,779 2 6

B—l [Pr. I]

DEPOSITS ACCOUNT— continued

2—B 1 [Pt. I]

EXPENDITURE Payments and Balances on Transfers. 31st March, 1949. £ s. d. £ s. d. 1 Brought forward 2,341,383 14 10 2,162,939 3 2 Marine Insurance (War Risks) Fund 452,430 15 3 Meat Act, 1939 10,460 2 0 5,680 0 7 Mining Act, 1926 204 2 4 Miscellaneous 1,727,576 11 3 1,076,831 0 8 Money-order Settlement Account 44,549 12 5 946 2 11 Navy Office Deposit Account 5,486 0 6 3,980 15 2 Nelson Rifle Prize Fund 20 0 0 1,362 12 0 New Zealand Reparation Estates 17,075 18 1 1,265 0 '4 New Zealand University Endowment — Westland 4 19 9 6,145 13 9 Niue Island Fruit Account 985 6 3 3,139 15 1 North Island Experimental Dairy School 613 16 4 11,534 14 4 Official Assignees' Balances 9,650 0 0 6,705 0 0 Orchard-tax Act, 1927 1,626 12 8 1,063 16 8 Payments through the High Commissioner 730,981 8 11 54,062 1 7' Promotion of Health Fund 51,088 19 7 36,455 17 7 Public Service Association Account .. .. 1,607 18 7 231 6 6 Rabbit Nuisance Amendment Act, 1947 .. .. j 34,593 11 0 2,113 10 0 Receipts by the High Commissioner for Payment in New : Zealand 120,833 7 9 6,760 9 5 Receiver-General's Deposit Account 250,000 0 0 455,000 0 0 Regimental Funds 221,140 13 10 Regimental Funds Government Grants Trust Account 1,461 7 5 Remittances from R.N.Z.A.F. Personnel 8,710 12 8 1,410 16 2 Remittances from Soldiers Overseas 42,036 12 10 1,673 2 1 Remittances to R.N.Z.A.F. Personnel 1,647 17 9 263 11 5 Remittances to Soldiers 6,332 10 1 777 3 8 R.N.Z.A.F. Central Deposits Account .. .. .. 5,963 4 11 24,371 7 1 R.N.Z.A.F. Welfare Deposits Account 964 1 3 22 212 8 7 Rural Reticulation Fund 1,470 3 11 73J21 6 1 Samoan Notes Security Account 71,400 0 0 Samoan Treasury Account 167,028 14 7 629,755 0 7 Scientific and Industrial Research Department 6,665 6 4 27 2 4 Silver and Bronze Coin Account 487,784 0 6 3,200,864 1 ' 5 Taranaki Scholarships Endowment Account 493 12 0 877 13 5 Tauranga Educational Endowment Reserves Act.. 632 6 3 Trustee Act, 1908 8,991 8 9 Unclaimed Earnings 1,489 17 1 2,373 2 5 United States Property Educational and Cultural Fund .. 35,924 16 2 i 1,299,606 19 4 Unpresented Cheques .. .. .. .. 4,155 19 3 ! 4,133 15 11 Victoria College Endowment Deposit Account 17 12 6 21 10 0 War Assets Realization Board Deposit Account 12,867 17 1 21,721 9 7 V * 6,805,662 7 11 | £9,202,116 14 7 Balances at end of year— j Cash .. .. .. .. .. 1,708,627 10 7 j Investments 7,387,345 0 0 • Imprests outstanding 106,144 4 0 9,202,116 14 7 i Total £16,007,779 2 6 !

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE

AIR DEFENCE RECEIPTS Transfer from Consolidated Fund (vote —Air) £ • s. d. £ s. d. 1,600,000 0 0 Total £1,600,000 0 0 EARTHQUAKE AND WAR Balances at beginning of year — Cash .. .. .. Investments Imprests outstanding £ s. 52,833 13 5,770,000 0 6 0 d. 8 0 0 £ s. d. 5,822,839 13 8 Premiums 544,498 15 0 Interest on investments 126,594 9 1 Total £6,493,932 17 9 ( ELECTRIC SUPPLY Balances at beginning of year— Cash .. .. .. Imprests outstanding .. £ s. 483,504 2 124,601 3 d. 6 3 £ s. d, 608,105 5 9 Transfers from National Development Loans Account 5,000,000 0 0 State Supply of Electrical Energy Act, 1917, section 8 — Sales of electrical energy and miscellaneous receipts V 3,905,282 13 5 Proportion of interest earned on Public Account cash balance investments ... 83 6 8 Total | £9,513,471 5 10

B—l [Pt. I]

ACCOUNTS for the Year ended 31st March, 1949

FUND EXPENDITURE Balance at end of year— • £ s. d. £ s. d. Investments .. .. .. .. .. 1 } 1,600,000 0 0 Total £1,600,000 0 0 DAMAGE FUND Annual Appropriation— ■ £ s. d. £ s. d. Vote—Earthquake and War Damage 17,594 8 11 Earthquake and War Damage Act, 1944 — Insurance expenditure under section 12 (1) — Claims 15,170 11 11 Reinsurance premiums 11,640 0 0 26,810 11 11 Adjustment of value of investments held in London consequent on exchange-rate reverting to parity with sterling 339,525 0 0 Superannuation Act, 1947, section 86 (2) — Subsidy to Government Superannuation Fund 43 9 2 Balances at end of yearCash 34,257 0 6 Investments 6,075,600 0 0 Imprests outstanding .. .. .. 102 7 3 6,109,959 7 9 Total £6,493,932 17 9 ACCOUNT Annual Appropriations— £ s. d. £ s. d. Vote —Electric Supply 7,524,363 13 9 Unauthorized expenditure— Services not provided for ,. 193 13 6 7 f>24 7 1 1 5 y tJtf i < U Interest on capital liability 1,539,566 15 7 Superannuation Act, 1947, section 86 (2)— Subsidy to Government Superannuation Fund 12,861 16 1 V Transfer to Loans Redemption Account for redemption of securities 191,401 19 7 Balances at end of year— Cash 184,743 0 3 Imprests outstanding 60,340 7 1 945 08'-5 7 4-i-xU f vOJ t TC Total £9,513,471 5 10

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE ACCOUNTS for the Year ended 31st March, 1949— continued

RECEIPTS Balances at beginning of year — Cash Imprests outstanding T* -sC o GC s. 2 7 d. 6 0 [ £ 850,550 s. 9 d. 6 Transfers from National Development Loans Account 2,450,000 0 0 Sales and capital receipts— Sales of land— Estates and developed areas Land Act, 1924, section 20 : Crown lands Land Act, 1929, section 208 : Capital value of land .. Land Subdivision in Counties Act, 1946, section 14 (1) : Public reserves .. .. ; Repayment of advances Development of small farms : Capital receipts 141,023 189,460 1,858 10,219 18,918 ! 1.112,922 i 12 3 11 15 2 8 n 9 10 j 7 2 6 1 ! i 1,474,402 14 9 Rents and interest— Rents, &c.— Receipts derived from estates and developed areas .. Interest on advances Small Farms Account .. .. .366,704 5 6,082 19 111,823 9 0 5 484,610 13 7 Receipts from development schemes — Small farms Maori land settlement Sales of produce, live-stock, and miscellaneous receipts 2,022,740 1,050,071 5,612 13 19 13 6 i 10 5 3,078,425 6 9 Receipts under Maori Housing Act, 1935 83,627 1 8 Transfers from Consolidated Fund— Subsidies for development of marginal lands — Small farms development Maori land settlement For meeting losses arising from development of land for rehabilitation purposes— Small farms development .. 9,920 161,000 190,000 0 0 0 o 0 0 360,920 0 0 V , Proportion of interest earned on Public Account cash balance investments 83 6 8 Miscellaneous receipts .. .. .. ... 120,186 15 3 Carried forward \ 8,902,806 8 2

B—l [Pt. I]

LAND FOR SETTLEMENTS ACCOUNT

EXPENDITURE Annual Appropriations— . Vote— Land for Settlements Small Farms Development Jtaori Land Settlement Unauthorized expenditure— Services not provided for Interest on capital liability— National Development Loans Act, 1941, section 6 (5) — Transfer to Consolidated Fund in respect of interest payable on capital liability— Land for Settlements Account Maori land development and housing, &c., schemes .. £ s. d. 52,307 12 1 5,839,402 1 10 1,613,995 0 2 431 7 7 £ s. d. 7,506,136 1 8 1 584,455 7 7 | 107,917 4 8 400,000 0 0 184,455 7 7 Other interest charges— Land Laws Amendment Act, 1926, section 13— Interest on amount paid into Land for Settlements Account as capital proceeds from sales of Crown lands Land Laws Amendment Act, 1929, section 47— Interest on Crown lands declared to be subject to the Land for Settlements Act, 1925, and the former Land for Settlements Acts Finance Act, 1930 (No. 2), section 19 (4) — Interest on Cheviot Estate accumulated funds paid to Consolidated Fund 80,844 11 3 8,477 12 0 18,595 1 5 Expenditure charged on proceeds of sales of land— • Crown lands : Sales under Land Act, 1924, section 20 — Finance Act, 1931 (No. 4), section 24 (1) — Payment to Public Works Account of value of lands set aside or required for the purposes of the Post and Telegraph Department, but no longer required for such purpose Finance Act, 1932 (No. 2), section 6— Payment in respeet of land and buildings acquired for disposal £ s. d. under the Land Act, 1924 .. 3,911 4 2 Payment in respect of land purchased from Internal Marketing Division 34 0 0 Transfer from Crown Lands Account to Small Farms Account of the value of Small Farms lands declared Crown lands .. .. 9,932 1 3 Payment to Public Works Account of advances to holders of perpetual leases of village allotments .. 2,080 5 3 249 6 6 i i 15,957 10 8 i 8,985 5 10 129 7 4 Land Act, 1924, section 20 (3) — x Payment in respect of land obtained for Government works now deemed to be Crown lands .. Land Act, 1924, section 139— " Thirds " and " fourths " paid to Local Bodies' Deposit Account from proceeds of sales of Crown lands Carried forward 25,321 10 4 | 8,198,508 13 11

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE

LAND FOR SETTLEMENTS RECEIPTS j ' £ s. d. | £ s. d. Brought forward .. .. •. 8,902,806 8 2 Total £8,902,806 8 2 LOANS REDEMPTION Balances at beginning of year — £ s. d. £ s. d. Cash 213,836 19 5 Investments 4,000,000 0 0 4. 91 1Q tjiilO jOOU 13 xj New Zealand Loans Amendment Act, 1947 — Section 11 (a) — Moneys raised for the purpose of repaying loans— Securities issued in conversion and in renewal of loans— Stock— To mature— 15th December, 1953-56 .. .. .. 105 0 0 v 15th June, 1954-55 1,250,000 0 0 15th February, 1955-58 1,076,480 0 0 15th April, 1956-59 150 0 0 15th November, 1958 6,169,385 0 0 15th March, 1962 3,000,000 0 0 1st September, 1966-68 16,000,000 0 0 97 4-Qfi 1950 A A Carried forward 81,709,956 19 5

B—l [Ft. I]

ACCOUNTS for the Year ended 31st March, 1949 —continued

ACCOUNT—continued EXPENDITURE Brought forward Expenditure charged on, proceeds of sales of land —continued Crown, lands: Sales under Land Act, 1924, section 20— continued Maori Purposes Act, 1934, section 3 (2) — Acquisition of Maori land Public Reserves, Domains, and National Parks Act, 1928, section 41 (2) — Improvements and developments of domains from proceeds of sale of areas Reserves and Other Lands Disposal Act, 1948, section 19 (2)— Acquisition of Bluff Harbour Board endowment land .. Finance Act, 1932 (No. 2), section 6— Transfer from Small Farms Account to Crown Lands Account of the value of Crown land utilized for Small Farms purposes Balances at end of year— Cash Imprests outstanding— Vote— £ s. d. Small Farms Development .. 25,627 11 5 Maori Land Settlement .. .. 3,029 6 8 £ s. d. 25,321 10 4 1,713 2 5 1,800 0 0 500 0 0 £ s. d. 8,198,508 13 11 29,334 12 9 21,671 17 0 653,291 4 6 624,634 6 5 28,656 18 1 r Total •• £8,902,806 8 2 ACCOUNT New Zealand Loans Amendment Act, 1947— Section 12 (a) — Repayment of loans from moneys received under section 11 (a)— Stock and debentures — Securities renewed or converted —• To mature— 1st March, 1948-58 15th February, 1955-58 loth November, 1958 15th July, 1963-65 Carried forward 1 £ s. d. | 19,000,000 0 0 661,630 0 0 5,619,385 0 0 1,250,000 0 0 £ s. d. 26,531,015 0 0 26,531,015 0 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE ACCOUNTS for the Year ended 31st March, 1949— continued

RECEIPTS £' • s. d. £ s. d. Brought forward 31,709,956 19 5 New Zealand Loans Amendment Act, 1947—continued Section 11 (a) —continued Moneys raised for the purpose of repaying loans—continued Cash instalments received on account of 3-per-cent. i London stock maturing 1st June, 1973—77 .. j 985,000 0 0 Section 11 (b) — Annual contribution from Consolidated Fund in respect of the defined portion of the public debt— One-half per centum of the total amount of the defined portion of the public debt outstanding at 31st March, 1948 2,671,077 8 1 Four per centum of the total amount of the defined portion of the public debt repaid or redeemed to 31st March, 1948 1,842,078 8 0 4. Tfi*? Ifi 1 -tjtHOj It/il lU JL Section 11 (c) —- Amounts received for redemption of loans from— Electric Supply Account 191,401 19 7 State Advances Corporation (Housing Account) 570,000 6 0 Ordinary Revenue Account 470,000 0 0 Ordinary Revenue Account 4,200,000 0 0 State Coal-mines Account 358,153 0 0 Miscellaneous 26,071 1 2 ! f» 81 f* § I i I i ! Carried forward 43,023,739 2 3 1

B—l [Pr. I]

LOANS REDEMPTION ACCOUNT— continued

EXPENDITURE £ s. d. £ s. d. Brought forward 26,531,015 0 0 New Zealand Loans Amendment Act, 1947 —continued Section 12 (b) — Redemption of securities determined by the Public Debt Commission— Securities redeemed before maturity— Stock— To mature — 15th May, 1948 .. .. .. 950 0 0 30th November, 1948 .. .. 7,250 0 0 15th June, 1947-49 6,530 0 0 15th February, 1949-50 .. 4,210 0 0 15th April, 1949-51 .. .. 505 0 0 15th May, 1949-52 1,000 0 0 15th April, 1950-51 4,190 0 0 1st October, 1953 .. .. 53,500 0 0 1st August, 1951-54 16,700 0 0 15th June, 1952-55 2,410 0 0 15th September, 1952-55 .. .. 30,220 0 0 15th May, 1953-56 22,850 0 0 15th December, 1953-56 62,220 0 0 loth February, 1955-58 61,780 0 0 15th April, 1956-59 45,335 0 0 15th September, 1957-60 15,765 0 0 15th April, 1960-63 4,345 0 0 15th July, 1962-64 59,120 0 0 loth July, 1963-65 15,650 0 0 414,530 0 0 Securities redeemed at maturity— Stock and debentures— To mature — 15th April, 1946-49 260 0 0 30th November, 1948 3,484,980 0 0 3,485,240 0 0 1 /-\y> 1 / /i\ q aqq 77ft 0 ft oecTiion ±±j \C) — Redemption of loans in terms of section 58 of New Zealand Loans Act, 1932— Securities redeemed before maturity— Stock — To mature— 15th February, 1949-50 5,000 0 0 15th May, 1949-52 45,640 0 0 15th April, 1950-51 .. 2,000 0 0 v 1st August, 1951-54 10,000 0 0 15th September, 1952-55 .... 5,550 0 0 15th January, 1953-57 759 12 4 1st October, 1953 28,990 14 2 15th May, 1953-56 6,020 0 0 Carried forward 103,960 6 6 30,430,785 0 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE

LOANS REDEMPTION RECEIPTS Brought forward Total £ s. d. £ s. d. 43,023,739 2 3 £43,023,739 2 3 NATIONAL DEVELOPMENT New Zealand Loans Act, 1932— National Development Loans Act, 1941, section 3— 2£-per-cent. stock issued maturing 15th April, 1950-51 . . 2f-per-cent. stock issued maturing 15th October, 1957 .. 3-per-cent. stock issued maturing 15th July, 1962-64 3-per-cent. stock issued maturing 15th July, 1963-65 .. Carried forward .. .. .. £ s. d. 2,000,000 0 0 5,000,000 0 0 1,700 0 0 21,282,725 0 0 | £ s. d. 28,284,425 0 0 . 28,284,425 0 0

B—l [Pt. I]

ACCOUNTS for the Year ended 31st March, 1949—continued

ACCOUNT EXPENDITURE Brought forward .. .. .. .. | £ s. d. £ s. d. 103,960 6 6 30,430,785 0 0 New Zealand Loans Amendment Act, 1947' —continued Section 12 (c) —continued Redemption of loans in terms of section 58 of New New Zealand Loans Act, 1932—continued Securities redeemed before maturity—continued Stock-—continued To mature—continued 15th December, 1953-56 3,500 0 0 31st May, 1954-58 400 0 0 15th April, 1956-59 400 0 0 15th July, 1957 1,000,000 0 0 15th September, 1957-60 169,250 0 0 15th October, 1957 i 3,000,000 0 0 15th November, 1957 28,485 0 0 15th April, 1960-63 575 0 0 22nd May, 1960 200 0 0 4,306,770 6 6 Securities redeemed at maturity— Stock— To mature—1st March, 1948-58 225,465 0 0 15th May, 1948 3,760,535 0 0 Interest-free stock— To mature— Various 452 0 0 3,986,452 0 0 c oqo 999 p. a O ? Auo ? O O Balances at end of year — Cash 314,731 15 9 Investments 3,985,000 0 0 4- 5>QQ Q i OX. XU «? Total £43,023,739 2 3 LOANS ACCOUNT National Development Loans Act, 1941 — Appropriation Act, 1948, Fifth Schedule — £ s. d. £ s. d. Transfers to — v Electric Supply Account . 5,000,000 0 0 Lands for Settlements Account 2,450,000 0 0 Public Works Account 16,028,425 0 0 State Coal-mines Account 1,500,000 0 0 Working Railways Account 1,746,000 0 0 9fi 79A A O —-U 5 « i/t j U U Carried forward 26,724,425 0 0

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE

NATIONAL DEVELOPMENT RECEIPTS £ • 's. d. £ s. d. Brought forward • ♦ j 28,284,425 0 » Total £28,284,425 0 © PUBLIC WORKS Balances at beginning of year — £ s. d. £ s. d. Cash .. .. 505,291 16 11 Cash transferred from State Forests Account as at 1st April, 1948 .. .. .. 142,218 3 4 Imprests outstanding transferred from State Forests Account as at 1st April, 1948 1,386 8 8 Imprests outstanding 264,204 5 3 o ino id. 9 Transfers from National Development Loans Account 16,028,425 0 0 Agriculture (Emergency Powers) Act, 1934, section 26 — Repayment of loans.. 1,844 13 10 Finance Act, 1932, section 7 (4) — ' Proceeds from the sale Of lands subject to the Hauraki Plains Act, 1926 6,249 14 8 Finance Act, 1932, section 11 (3) (a) — Recoveries of capital moneys expended on railway-line, Petone to Waterloo 10,000 0 0 Sale of linen flax factories and equipment 142,582 17 10 Miscellaneous receipts:— Education Department 21,071 9 10 Forest development .. 467,826 14 4 Justice and Prisons .. .. .. .. * . 10 7 Lands and Survey Department— 1 Survey liens 10,335 18 2 Capital cost of drainage works 3,866 0 8 General 4,679 17 8 Labour and Employment Department 5 17 7 Carried forward 507,786 8 10 17,102,203 0 4

B—l [Pt. I]

ACCOUNTS for the Year ended 31st March, 1949— continued

LOANS ACCOUNT—continued EXPENDITURE .£ s. d. £ s. d. Brought forward 26,724,425 0 0 National Development Loans Act, 1941 —continued Finance Act (No. 2), 1946, section 3— Purchase of shares in the British Petroleum Company of 765,000 0 0 New Zealand, Ltd. Linen Flax Corporation Act, 1945, sections 13 and 14— 110,000 0 0 Transfer to Linen Flax Corporation.. New Zealand National Airways Act, 1945, section 25— 685,000 0 0 Transfer to New Zealand. National Airways Corporation 1 560 000 0 0 Tot; J X 3 ; UVV V V £28,284,425 0 0 ACCOUNT Annual Appropriations— £ s. d. £ s. d. Vote — 128,724 16 9 Railway-construction Housing Construction .. .. 8,886,321 15 0 Public Buildings 1,080,463 4 6 Education Buildings 1,650,395 10 8 Lighthouses and Harbour-works 8,111 1 4 Roads, <fec. 405,653 14 7 Soil Conservation and Rivers Control 464,941 14 5 Irrigation, Water-supply, and Drainage 286,110 4 11 Highways Construction 2,005,569 4 6 Forest Development .. ... 1,423,838 17 7 Christmas Island Phosphate Rights 1,375,000 0 0 17., 715,130 4 3 Finance Act (No. 2), 1939, section 2— Purchase of shares in Tasman Empire Airways, Ltd. .. V I • ! i 257,998 0 0 Carried forward 17,973,128 4 3

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE

PUBLIC WORKS RECEIPTS £ s. d. £ s. d. Brought forward 507,786 8 10 17,102,203 0 4 Miscellaneous receipts—continued Public Works Department— - Departmental receipts— General 1,402 19 10 Highways construction 35,941 15 5 Housing construction .. .. .. ... 1,148,114 7 9 Irrigation, water-supply, and drainage 166,941 9 1 Lighthouses and harbour-works 3,156 12 0 Public buildings 123,156 18 5 Railway-construction 20,018 18 0 Roads, &c. 39,276 14 9 Soil conservation and rivers control 45,388 7 10 Instalment on loans to — Eastbourne Borough Council 215 18 9 Lower Clutha River Trust 86 2 4 Tourist and Health Resorts 1,080 0 0 2,092,566 13 0 Total .. .. .. .. £19,194,769 13 4 REMITTANCES TO £ s. d. £ s. d. Amounts credited to New Zealand Public Account, London, being amounts remitted from Public Account, Wellington .. 20,124,982 2 9 Total .. .. £20,124,982 2 9 RESERVE FUND Balances at beginning of year — £ s. d. £ s. d. Cash .. .. 4,116 16 7 Investments 2,590,000 0 0 9 Wd 11 fi 1 fi 7 Hawkes Bay earthquake— Repayments of loans made to earthquake suffers 24,235 5 6 Repayment of loans made to local authorities 19,399 6 7 • 43,634 12 1 investments 70,695 0 4 Miscellaneous receipts 28 6 11 Total 1 i £2,708,474 15 11

B—l [Ft. I]

ACCOUNTS for the Year ended 31st March, 1949—continued

ACCOUNT—continued EXPENDITURE Brought forward Balances at end of year — Cash Imprests outstanding Total £ s. d. 939,802 5 8 281,839 3 5 £ s. d. 17,973,128 4 3 1,221,641 9 1 1 1 1 1 £19,194,769 13 4 LONDON ACCOUNT Amounts withdrawn from Public Account, Wellington, for remittance to New Zealand Public Account, London Total £ s. d. • £ s. d. 20,124,982 2 9 £20,124,982 2 9 ACCOUNT Hawkes Bay earthquake— Administration expenses Adjustment of value of investments held in London consequent on exchange-rate reverting to parity with sterling Balances at end of year— x Cash Investments ... Total £ s. d. 5,310 11 0 2,174,900 0 0 £ s. d. 14 4 11 528,250 0 0 2,180,210 11 0 £2,708,474 15 11

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE

Social RECEIPTS Balances at beginning of yearCash .. Investments Imprests outstanding £ s. 1,342,700 12 5,000,000 0 899,217 11 d. 6 0 3 £ s. d. 7,241,918 3 9 . | Social security charge Miscellaneous receipts 29,378,384 16 58,514 6 9 2 29,436,899 2 11 Transfer from the Consolidated Fund 15,000,000 0 0 Interest on investments .. 136 19 9 Total .. .. .. .. 51,678,954 6 5 • STATE COALBalances at beginning of year — Cash Imprests outstanding £ s. 217,563 18 5,706 8 d. 6 6 £ s. d. 223,270 7 0 Transfer from National Development Loans Ac'count 1,500,000 0 0 Bents, royalties, subsidies, sale of coal, coke, wood, &c. 3,693,758 19 6 Housing and other loans — Repayment of principal and interest .. 20,619 10 2 V Realization of investments held by companies acquired by Crown ■ 276,225 0 0 Miscellaneous receipts .... 15,959 19 3 Total .. .. £5,729,833 15 11

B—l [Pt. I]

ACCOUNTS for the Year ended 31st March, 1949—continued

SECURITY FUND EXPENDITURE Annual Appropriations— £ s. d. £ s. d. V ote — Administration Expenses and Emergency Benefits 980,667 15 6 Medical, Hospital, &c., Benefits 7,875,447 15 1 Unauthorized expenditure— Services not provided for 95 0 0 Q QKfi OTA "1A 7 Social Security Act, 1938, section 106 (1) — Monetary benefits—-Age-benefits 13,790,971 0 8 Invalids' benefits 1,348,616 3 0 Widows' benefits 1,847,029 18 6 Sickness benefits 911,107 4 10 Family benefits 14,242,202 9 3 Miners' benefits 113,659 7 5 Orphans' benefits .. .. .. .. 27,623 3 7 Maori War benefits 9 15 0 Unemployment benefits 8,947 10 0 Universal superannuation 1,850,079 8 3 Qj. 14-0 0 fi t)T 9 ITU ? iotU \J U Social Security Amendment Act, 1943, section 13 (8) (c)— Payment of balance of maintenance moneys 580 4 1 Balances at end of year— Cash 533,874 4 8 Investments .. .. .. .. .. ! 8,000,000 0 0 Imprests outstanding .. ... .. 148,043 6 7 8 681 Q17 11 3 ji/I / XJL O Total .. .. .. .. .. | £51,678,954 6 5 MINES ACCOUNT Annual Appropriation— £ s. d. £ s. d. Vote—State Coal-mines 5,247,592 1 2 Transfer to Loans Redemption Account for redemption of securities .. .. .. 358,153 0 0 Superannuation Act, 1947, section 86 (2) — Subsidy to Government Superannuation Fund V 2,337 17 0 Balances at end of year— Cash 88,737 8 8 Imprests outstanding 33,013 9 1 121,750 17 9 Total £5,729,833 15 11

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE ACCOUNTS for the Year ended 31st March, 1949—continued

RECEIPTS [This account has been abolished as from 1st April, 1948, and the balances at that date WAR EXPENSES Balances at beginning of year— Cash Imprests outstanding £ s. d. 796,015 8 6 2,164,071 10 11 £ s. d. 2,960,086 19 5 War Expenses Act, 1939, section 2 (4) (e) — Transfer from Consolidated Fund —(surplus, 1947-48) .. Transfer from Consolidated Fund .. .. ' .. Finance Act (No. 2), 1942, section 19 (1) — Transfer of net surpluses from special marketing accounts .. Transfer from Deposits Account Marine Insurance (War Risk) Fund * .. 1,785,712 10 2,000,000 0 21,865 15 452,430 15 9 0 1 3 4,260,009 1 1 Disposal of surplus assets 1,535,835 2 7 Miscellaneous receipts— Navy Army Air Donations .. .. General Allied military currency issued to 2nd N.Z.E .F. overseas Disposal of assets acquired under German Reparations World War II 149 19 217,232 17 91,668 16 1,867 7 1,353 7 1,714 0 124,891 ,6 0 11 3 2 5 3 3 438,877 14 3 Rehabilitation— Repayment of advances Miscellaneous receipts Repayment of Supplementary Loans Interest on advances Donations 1,192,689 9 257,609 8 40,124 15 45,697 15 4,641 0 8 3 8 7 0 1,540,762 9 2 Total £10,735,571 6 6

B—l [Pt. I]

STATE FORESTS ACCOUNT

EXPENDITURE in terms of the Forest Amendment Act, 1948, section (3), transferred to the Public Works Account.3 ACCOUNT War Expenses Act, 1939 — Subdivision I: Navy £ s. d. £ s. 18,884 6 d. 9 Subdivision II: Army 1,661,068 17 5 Subdivision III: Air 168,540 0 10 Subdivision IV : Ancillary .. Or. 523,038 5 10 Subdivision V : Rehabilitation 4,590,669 8 10 Subdivision, VII: Gratuities 1,329,446 19 0 Refund to Chief Paymaster, B.C.O.F.—Military currency issued to occupation troops, Japan 94,817 4 3 Balances at end of year— Cash Investments Imprests outstanding .. .. 1,432,895 11 1,500,000 0 462,287 3 9 0 6 3,395,182 15 3 Total £10,735,571 6 6

B—l [Pt. I]

STATEMENT of the RECEIPTS and EXPENDITURE of the SEPARATE ACCOUNTS for the Year ended 31st March, 1949—continued

RECEIPTS Balances at beginning of year— Cash Investments Imprests outstanding Transfer from National Development Loans Account Railway revenue Stabilization subsidy Interest on investments .. ... Railway Employees' Sick Benefit Fund— Subsidy from Working Railways Account Miscellaneous receipts .. .. .. .. .. : Total .. .. .. .. .. | £ s. d. 72'6,357 16 3 800,000 0 0 434,159 9 7 £ s. d. 1,960,517 5 10 1,746,000 0 0 18,086,439 0 3 1,102,866 0 0 22,741 4 10 13,400 0 0 2,079,976 2 7 £25,011,939 13 6

B—l [Pt. I]

WORKING RAILWAYS ACCOUNT

Audit Office Note Under the post-audit system, provided for by the Public Revenues Act, 1926, the final audit of many vouchers cannot be completed before the date at which the Public Accounts are required by the Act to be certified.

EXPENDITURE Annual Appropriations— VoteWorking Railways Improvements and Additions to Open Lines Superannuation Act, 1947, section 86 (2) — Subsidy to Government Superannuation Fund Subsidy to Railway Employees' Sick Benefit Fund Balances at end of year— Casb Investments Imprests outstanding Total £. s. d. 21,458,281 8 10 1,717,131 13 11 £ s. d. 23,175,413 2 9 245,900 15 9 13,400 0 0 1,577,225 15 0 759,188 3 2 550,000 0 0 268,037 11 10 £25,011,939 13 *6

B—l [Pt. I]

SUMMARY of CASH and IMPREST BALANCES at 31st MARCH, 1949

Account. Cash Imprests. Total. Consolidated Fund — £ s. d. £ s. d. £ S. ' d. Ordinary Revenue Account 987,619 19 4 653,081 10 10 1,640,701 10 2 Deposits Account 1,708,627 10 7 106,144 4 0 1,814,771 14 7 Earthquake and War Damage Fund 34,257 0 6 102 7 3 34,359 7 9 Electric Supply Account 184,743 0 3 60,340 7 1 245,083 7 4 Land foe Settlements Account 624,634 6 5 28,656 18 1 653,291 4 6 Loans Redemption Account 314,731 15 9 314,731 15 9 Public Works Account 939,802 5 8 281,839 3 5 1,221,641 9 1 Reserve Fund Account 5,310 11 0 5,310 11 0 Social Security Fund . 533,874 4 8 148,043 6 7 681,917 11 3 State Coal-mines Account 88,737 8 8 33,013 9 1 121,750 17 9 Suspense Account 347,470 3 3 347,470 3 3 War Expenses Account 1,432,895 11 9 462,287 3 6 1,895,182 15 3 Working Railways Account 759,188 3 2 268,037 11 10 1,027,225 15 0 Totals 7,961,892 1 0 2,041,546 1 8 10,003,438 2 .8

B—l [PT. I]

SUMMARY of INVESTMENTS held at 31st MARCH, 1949

* Against these Investments there is a Loan Liability of £29,807,345 corresponding to the amount of Investments in Government Securities.

Account. Government Securities. Other Securities. Total Investments. Consolidated Fund : — Ordinary Revenue Account Deposits Account Atr Defence Fund Earthquake and War Damage Fund Loans Redemption Account.. Reserve Fund Account Social Security Fund War Expenses Account Working Railways Account Totals £ s. d. 5,500,000 0 0 5,387,345 0 0 1,600,000 0 0 4,270,000 0 0 3,000,000 0 0 8,000,000 0 0 1,500,000 0 0 550,000 0 0 £ s. d. 2,000,000 0 0 1,805,600 0 0 985,000 0 0 2,174,900 0 0 £ s. d. 5,500,000 0 0 7,387,345 0 0 1,600,000 0 0 6,075,600 0 0 3,985,000 0 0 2,174,900 0 0 8,000,000 0 0 1,500,000 0 0 550,000 0 0 29,807,345 0 0 6,965,500 0 0 *36,772,845 0 0

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

STATEMENT of RECEIPTS and DISBURSEMENTS under the Trustee Act, 1908, to the 31st March, 1949, with Particulars of the BALANCE at CREDIT

£ s. d. £ s. d. Balance on 1st April, 1948 7,876 17 3 Estate of — John Atkinson 48 5 0 G. E. Walker 1,066 6 6 1,114 11 6 • ! • | Total .. .. v.. .. .. j £8,991 8 9

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

in the DEPOSIT ACCOUNT on that Date. (Published in Terms of Section 72 of the Trustee Act, 1908.)

. £ s. d. £ s. d. Balances on 31st March, 1949 — Estate of— Susan Smallwood .. .. .. .. 93 10 0 J. Matheson and H. Gracie 414 3 3 Mary McKay 43 3 10 William Tattley 45 1 5 Barthia Wilkie 287 11 1 Robert. Miller 22 4 7 Paora Parau and W. It. Miller 23 0 0 Francis Humphreys Heighwav 46 12 5 George Moore .. .. .. 2,414 0 0 Richard Galway 836 13 9 John Burk 74 7 10 Geoffrey Arthur Harney 44 15 3 John Hewitt 162 12 0 Mark Earl 150 0 0 Edward Thurlow Field 24 8 1 Martha Robinson 38 17 11 John Bealy 49 17 1 Ernest Groome Gresham 23 1 8 Bartholomew Hannan 185 ■y 10 Patrick O'Rourke 191 3 1 i William Patrick Molloy 103 3 0 William A. Chandler .. .. 1 19 1 George Brown 46 10 8 George Baker .. 737 11 2 Duncan McLean .. .. .. 168 0 11 John Stephen Barrett 20. 18 5 Eliza Birrell 18 2 10 Joseph Newzil 293 3 7 Margaret Pilling 23 1 6 John Gray 144 2 8 Julia Sarah Major 47 16 4 Harold Oliver Pine 2 6 0 Harriet Elizabeth Shakespear .. 26 3 6 McMullin and Brown 8 8 4 William Seyb 21 4 11 Edward John Samuel .. .. 152 9 6 John Atkinson 247 7 9 A. A. Mclntyre 50 0 0 B. Foster 20 5 7 O. E. Walker 1.066 6 6 Moanatairi Extended Gold-mining Co. 16 7 8 Direct Supply Co., Ltd., Auckland (in liquidation) 33 5 10 Wellington-Manawatu Railway Co., Ltd. .. 95 9 8 Ingle wood Oil-boring and Prospecting Co., Ltd. 21 5 0 Southland Woollen Mills, Ltd. (in liquidation) 38 2 4 William Baker Fisher Bush Nursing Fund Trust 417 9 11 • 8,991 8 9 Total .. £8,991 8 9 .

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

STATEMENT showing the AMOUNTS appropriated under the Appropriation Act, 1948, and the ISSUES in respect thereof from the CONSOLIDATED FUND for the FINANCIAL YEAR ended 31st March, 1949

(Under Section 86 of the Public Revenues Act, 1926) Balances 1 (+ means Amount <0 Account and Vote. Annual Vote. Expenditure. Issued in Excess; — means Amount unissued). Ordinary Revenue Account £ s. d. £ s. d. £ s. d. 1 Legislative 165,678 0 0 177,521 5 9 + 11,843 5 9 2 Prime Minister's Department 224,745 0 0 221,448 19 4 -3,296 0 8 3 External Affairs 586,919 0 0 621,151 2 7 +34,232 2 7 4 Treasury368,745 0 0 354,095 15 6 —14,649 4 6 5 Stabilization il,467,835 0 0 11.687,136 18 7 +219,301 18 7 6 Customs 361,067 0 0 329,712 13 4 -31,354 6 8 7 Land and Income Tax 766,155 0 0 731,771 14 5 -34,383 5 7 8 Stamp Duties 205,002 0 0 191,866 18 0 -13,135 2 0 9 Audit .. 114,549 0 0 108,419 4 5 -6,129 15 7 10 Public Service Commission 84,125 0 0 81,413 5 6 -2,711 14 6 11 Internal Affairs 1,510,689 0 0 1,417,934 19 7 -92,754 0 5 12 Island Territories 674,680 0 0 663,233 13 10 -11,446 6 2 13 Printing and Stationery 778,385 0 0 676,010 4 5 -102,374 15 7 14 Marine 529,484 0 0 480,570 7 2 -48,913 12 10 15 Labour and Employment 1,622,635 0 0 1,479,144 17 10 -143,490 2 2 16 Maori Affairs 602,575 0 0 521,219 2 4 -81,355 17 8 17 Valuation 212,838 0 0 220,557 8 4 +7,719 8 4 18 Electoral 55,168 0 0 20,093 19 8 -35,074 0 4 19 Census and Statistics 83,000 0 0 76,728 15 11 -6,271 4 1 20 Rehabilitation 385,150 0 0 349,304 5 2 -35,845 14 10 21 Justice and Prisons 601,317 0 0 605,948 13 3 +4,631 13 3 22 Crown Law .. .. 15,120 0 0 13,679 5 8 -1,440 14 4 23 Police .. 1,111,388 0 0 1,073,999 5 4 -37,388 14 8 24 Navy 2,370,704 0 0 2,300,532 14 4 -70,171 5 8 25 Army 2,968,700 0 0 2,229,875 17 10 -738,824 2 2 26 Air 5,896,090 0 0 5,857,932 10 6 -38,157 9 6 27 Maintenance of Public Works and Services .. .. 6,762,992 0 0 6,759,475 6 10 -3,516 13 2 28 Highways Maintenance .. 3,961,089 0 0 3,920,771 10 8 -40,317 9 4 29 Lands and Survey .. 1,350,852 0 0 1,238,623 16 10 -112,228 3 2 30 Forest Administration .. 812,900 0 0 810,658 13 11 -2,241 6 1 31 Agriculture .. .. 2,130,859 0 0 1,844,630 19 8 -286,228 0 4 32 Scientific and Industrial Research .. 839,060 0 0 774,433 2 11 -64,626 17 1 33 Mines .. .. .. 138,790 0 0 132,437 19 2 6,352 0 10 34 Transport .. .. .. j 324,938 0 0 317,738 6 3 —7,199 13 9 35 Industries and Commerce 581,098 0 0 520,270 18 10 -60,827 1 2 36 Tourist and Health Resorts 609,039 0 0 596,540 13 6 -12,498 6 6 37 Health 7,770,076 0 0 8,081,457 4 5 +311,381 4 5 38 Education 9,575,518 0 0 9,588,987 19 3 + 13,469 19 3 39 War and other Pensions 4,910,810 0 0 4,926,080 19 1 +15,270 19 1 40 Sbcial Security 15,000,000 0 0 15,000,000 0 0 Services not pro- £ s. d. vided for .. 138,258 9 10 Less amounts recovered or transferred to votes .. 10,458 0 10 197 800 Q O J.J£j 1 5 OUU U V •J Totals 88,530,764 0 0 87,131,211 18 11 1 •

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

STATEMENT showing the AMOUNTS appropriated under the Appropriation Act, 1948, and the ISSUES in respect thereof from the SEPARATE ACCOUNTS for the FINANCIAL YEAR ended 31st March, 1949

(Under Section 86 of the Public Revenues Act, 1926) o a -+=> o * Account and Vote. Annual Vote. Expenditure. Balances (+ means Amount issued in Excess; — means Amount unissued). j Earthquake and War Damage Fund 41 | Earthquake and War Damage Electric Supply Account 42 Electric Supply . . [ Services not provided for Totals I £ s. d. 18,375 0 0 £ s. d. 17,594 8 11 £ s. d. -780 11 1 7,525,621 0 0 7,524,363 13 9 193 13 6 — 1,257 6 3 7,525,621 0 0 7,524,557 7 3 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 Land for Settlements Account Land for Settlements Small Farms Development Maori Land Settlement Services not provided for Totals Public Works Account Railway-construction Housing Construction Public Buildings Education Buildings Lighthouses and Harbour-works Roads, &c. Soil Conservation and Rivers Control Irrigation, Water-supply, and Drainage Highways Construction Forest Development Christmas Island Phosphate Rights.. Totals Social Security Fund Administration Expenses and Emergency Benefits Medical, Hospital, &c., Benefits Services not provided for Totals State Coal-mines Account State Coal-mines Working Railways Account Working Railways Improvements and Additions to Open Lines Totals 68,410 0 0 6,883,181 0 0 1,306,000 0 0 52,307 12 1 5,839,402 1 10 1,613,995 0 2 431 7 7 -16,102 7 11 -1,043,778 18 2 +307,995 0 2 8,257,591 0 0 7,506,136 1 8 380,000 0 0 8,010,954 0 0 1,500,000 0 0 1,395,000 0 0 25,000 0 0 460,000 0 0 450,000 0 0 370,000 0 0 1,900,000 0 0 1,812,400 0 0 1,500,000 0 0 128,724 16 9 8,886,321 15 0 1,080,463 4 6 1,650,395 10 8 8,111 1 4 405,653 14 7 464,941 14 5 286,110 4 11 2,005,569 4 6 1,423,838 17 7 1,375,000 0 0 -251,275 3 3 +875,367 15 0 -419,536 15 6 +255,395 10 8 -16,888 18 8 -54,346 5 5 +14,941 14 5 -83,889 15 1 +105,569 4 6 -388,561 2 5 -125,000 0 0 17,803,354 0 0 17,715,130 4 3 | 1,029,946 0 0 7,812,000 0 0 980,667 15 6 7,875,447 15 1 95 0 0 -49,278 4 6 +63,447 15 1 1 8,841,946 0 0 8,856,210 10 7 5,561,432 0 0 5,247,592 1 2 -313,839 18 10 21,314,360 0 0* 2,149,172 0 0 21,458,281 8 10 1,717,131 13 11 + 143,921 8 10 -432,040 6 1 23,463,532 0 0 23,175,413 2 9 * Includes £504,727 additional amount appropriated in terms of section 50 of the Public Revenues Act, 1926.

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

STATEMENT showing the AMOUNTS appropriated under the Appropriation Act, 1948, and the ISSUES in respect thereof from ACCOUNTS OUTSIDE THE PUBLIC ACCOUNT for the FINANCIAL YEAR ended 31st March, 1949

(Under Section 86 of the Public Revenues Act, 1926) <B o i> Account and Vote. Annual Vote. Expenditure. Balances | (+ means Amount issued in excess; — means Amount unissued). 62 63 64 65 66 67 68 69 70 70 70 71 Post Office Account Post and Telegraph Working-expenses Telegraph Extension Totals .. Public Trustee's Account Public Trust Office Maori Trustee's Account Maori Trust Office Services not provided for Totals Government Insurance Account Government Insurance | Government Superannuation Fund Account Government Superannuation Fund Office State Fire Insurance Account State Fire Insurance Government Accident Insurance Account Government Accident Insurance Marketing Account Marketing Sundry* Products Account Marketing Meat Industry Account Marketing Broadcasting Account £ s. d. 9,548,630 0 0 1,394,000 0 0 i £ • s. d. 9,579,335 11 7 | 1,670,987 11 1 £ s. d. 1 +30,705 11 7 +276,987 11 1 10,942,630 0 0 11,250,323 2 8 534,878 0 0 | 501,249 0 0 -33,629 0 0 18,207 0 0 1 | 16,468 1 5 500 0 0 1 ! -1,738 18 7 • • 18,207 0 0 16,968 1 5 ' ' ' 295,045 0 0 270,597 11 6 -24,447 8 6 L 36,527 0 0 27,887 12 -2 —8,639 7 10 169,100 0 0 139,299 8 8 -29,800 11 4 128,120 0 0 j 102,774 11 3 -25,345 8 9 j 178,679 0 0 129,558 0 11 —49,120 19 1 6,900 0 0 8,007 17 11 + 1,107 17 11 50,800 0 0 15,182 10 3 —35,617 9 9 977,110 0 0 | 884,608 8 11 -92,501 11 1

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

ABSTRACT of the UNAUTHORIZED EXPENDITURE ACCOUNT for the FINANCIAL YEAR ended 31st March, 1949

(Under Section 58 op the Public Revenues Act, 1926) £ s. d. £ s. d. £ s. d. CONSOLIDATED FUND Ordinary Revenue Account FOR SERVICES NOT PROVIDED FOR Agriculture Department— Grant to New Zealand Poultry Board for administration expenses 5,000 0 0 Air Department— Expenses of South Pacific Air Transport Conference 114 11 4 Grant to Canterbury Aero Club to meet costs incurred in change-over from i Wigram to Harewood 1,500 0 0 Payment to New Zealand National Airways Corporation to meet excess of expenditure over revenue, Pacific Regional Services, for the period 1st November, 1947, to 31st March, 1948 21,733 16 8 Payment to Tasman Empire Airways, Ltd., to meet estimated deficiency in operational costs for financial year ended 31st March, 1949 85,000 0 0 108 34-8 8 0 Army Department— IvO J UTO C7 V' Ex gratia payment to wife of exserviceman for loss of luggage whilst in transit from Middle East to New • Zealand 50 0 0 Ex gratia payment to Union Steam Ship Co. of New Zealand, Ltd., in full settlement of its claim for damage to cargo contaminated through shipj ment of bales of proofed sand-bags .. 375 0 0 425 0 0 Census and Statistics Department— Graat to officer in lieu of leave on retirement 133 7 8 External Affairs Department— m Cost of bronze memorial plaque commemorating use of building in Charing Cross Road, London, as New Zealand Forces Club 16 10 0 Carried forward .. .. j 113,923 5 8 1

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

ABSTRACT of the UNAUTHORIZED EXPENDITURE ACCOUNT —continued

' £ s. d. £ s. d. £ s. d. Brought forward .. 113,923 5 8 CONSOLIDATED FUND —continu ed Ordinary Revenue Account —continued A FOR SERVICES NOT PROVIDED i i j FOR—continued 1 i Education Department— Grant towards cost of extensions to Selwyn College Hostel for benefit of 6,800 0 0 Otago University students Health Department— Cost of medical and hospital services for patient alleged to have been injuriously affected by a combined vaccine 19 14 6 Industries and Commerce Department— Grant to officer in lieu of leave on retirement 94 12 11 Increase of honorarium payable to Honorary New Zealand Government Agent, Johannesburg (Mr. H. T. Constable) .. .. .. .. 175 0 0 269 12 11 Internal Affairs Department— Grant to Ornithological Society of New j Zealand for conduct of bird-ringing i scheme .. .. .. 50 0 0 Grant to South African War Veterans' Association towards costs of represen- • tatives attending London reunion during July, 1949 750 0 0 Travelling and other expenses : Com1 mittee on Fire Service Training 144 12 7 944 12 7 Island Territories Department— 1 Costs of charter of " Skymaster " air1 craft from Trans-Australia Airlines I between Western Samoa and Auckland 2,324 0 0 Erection of additional school classrooms, Raratonga and Mauke 327 0 0" Fares, allowances, and expenses of •Parliamentary Under-Secretary, Mr. A. G. Osborne : Visit? to Cook Islands 125 2 0 % 2,776 2 0 Justice and Prisons Department— • Ex gratia payment to Thames Sawmilling Co., Ltd., on account of loss by theft (three persons convicted and fined £1,000) 250 0 0 Carried forward • •• 124,983 7 8

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

ABSTRACT of the UNAUTHORIZED EXPENDITURE ACCOUNT—continued

Brought forward £ s. d. £ 124,983 s. 7 d. 8 £ s. d. CONSOLIDATED FUND—continued Ordinary Revenue Account —continued FOR SERVICES NOT PROVIDED FOR—continued Lands and Survey' Department— Consideration payable to Gear Meat Co., Ltd., for transfer to the Crown of lands comprising part of the Hutt River bed containing 8 acres 1 rood .. Cost of purchasing two cottages at Thornton for housing workmen employed at Rangitaiki Drainage Works 100 200 0 0 0 0 300 98 0 19 0 1 Milk Marketing Division — Additional freight on fodder to meet emergency conditions Police Department— Ex gratia payment as compensation for alleged damage Refund to King-Country clubs of proceeds of the sale of liquor forfeited for breach of Licensing Act, 1908 .. - 100 182 0 5 0 8 282 8 j 1 Prime Minister's Department— Office and other expenses : New Zealand Consulate-General, San Francisco .. Transfer and removal expenses of employee of National Film Unit .. 90 115 1 17 10 7 205 19 Public Service Commission— Grant to widow of officer in lieu of leave on retirement 39 6 Rehabilitation Department— Grant to widow of officer in lieu of leave on retirement 52 18 8 State Forest Service — Ex gratia payment to mother in respect of her son, accidentally killed whilst employed at Golden Downs Plantation Expenses incurred supplying panelling and flooring" for reconstruction of portion of British Empire Society Building, London 500 225 0 2 0 7 725 0 7 Carried forward 126;687 15 7

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

ABSTRACT of the UNAUTHORIZED EXPENDITURE ACCOUNT—continued

Brought forward £ s. d. | £ s. 126,687 15 d. 7 £ s. d. CONSOLIDATED FUND —continued Ordinary Revenue Account—continued FOR SERVICES NOT PROVIDED F OR —continued. Tourist and Health Resorts— Compassionate grant to widow of deceased officer 169 16 9 Transport Department— Monetary equivalent of leave due to deceased officer . 27 16 5 Treasury Department— Ex gratia payment in lieu of refund of petrol-tax—■ Hamilton City Council W. J. Anderson Payment to Bank of New Zealand of unclaimed dividends on shares acquired by the Crown for refund to legal representatives of shareholders Purchase of shares in Hutt Valley Milk Treatment Co., Ltd. 89 6 68 500 8 12 19 0 9 0 6 0 665 250 0 0 o War Assets Realization Board— Grant to officer in lieu of leave on retirement o 0 • . 127,800 9 0 ! FOR SERVICES IN EXCESS OF VOTES i ■ i Vote—Legislative Vote—-External Affairs ... Vote —Stabilization Vote—-Valuation Vote —Justice and Prisons Vote —Health Vote—Education Vote—War and Other Pensions 11,843 34,232 219,301 7,719 4,631 311,381 13,469 15,270 '5 2 18 8 13 4 19 19 9 7 7 4 3 5 3 1 617,850 11 o o 745,651 0 9 SEPARATE ACCOUNTS Electric Supply Account FOR SERVICES NOT PROVIDEDTOR Compassionate grant to the widow of a deceased officer 193 13 6 Carried forward . „ 745,844 13 9

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

ABSTRACT of the UNAUTHORIZED EXPENDITURE ACCOUNT—continued

3—B 1 [Pt I]

Brought forward £ s. d. £ s. d. £ s. 745,844 13 d. 9 SEPARATE ACCOUNTS —continued Land for Settlements Account FOR SERVICES NOT PROVIDED FOR Ex gratia payment to estate of Pani Ramiha, representing proceeds of sale of land 431 7 7 FOR SERVICES IN EXCESS OF VOTES Vote—Maori Land Settlement 307,995 0 2 308,426 7 9 Public Works Account FOR SERVICES IN EXCESS OF VOTES Vote—Housing Construction Vote —Education Buildings Vote—Soil Conservation and Rivers Control Vote —Highway Construction 875,367 15 255,395 10 14,941 14 105,569 4 0 8 5 6 1,251,274 4 7 Social Security Fund FOR SERVICES NOT PROVIDED FOR Ex gratia payment from proceeds of sale of house property applied in reduction of moneys due under maintenance order 95 0 0 FOR SERVICES IN EXCESS OF VOTE Vote—Medical, Hospital, &c., Benefits .. 63,447 15 1 63,542 15 1 Working Railways Account FOR SERVICES IN EXCESS OF VOTE Vote —Working Railways 143,921 8 10 ACCOUNTS OUTSIDE THE PUBLIC ACCOUNT Maori Trustee's Account FOR SERVICES NOT PROVIDED FOR Contribution towards cost of erecting and equipping the Rotorua Guest House 500 0 0 Post Office Account FOR SERVICES IN EXCESS OF VOTE Vote —Post and Telegraph Workingexpenses Vote —Telegraph Extension 30,705 11 276,987 11 7 1 307,693 2 Q o Carried forward 2,821,202 12 8

B--1 [Pt. 1]

PUBLIC ACCOUNTS, 1948-1949

ABSTRACT of the UNAUTHORIZED EXPENDITURE ACCOUNT —continued

SUMMARY

£ s. d. £ s. d. £ s. d. Brought forward 2,821,202 12 8 ACCOUNTS OUTSIDE THE PUBLIC 1 [ ACCOUNT —continued Sundry Products Account FOR SERVICES IN EXCESS OF VOTE Vote —Marketing 1,107 17 11 Total 2,822,310 10 7

Unauthorized Authority. (Section 7 of the Finance Act, 1947). Amount expended For ail services Unauthorized Expenditure £ s. d. £2,592,538 5 2 £ s. d. £2,822,310 10 7

B—l [Pt. I]

PUBLIC ACCOUNTS, 1948-1949

STATEMENT OF CORPORATION INVESTMENTS HELD AS AT 31st MARCH, 1949 AND SUBMITTED AS REQUIRED BY FINANCE ACT, 1947, SECTION 3

4—B 1 [Pt I]

Bank of New Zealand— Nominal Value. Finance Act, 1926, section 8 — £ s. d. £ s. d. Shares acquired 2,109,375 0 0 1,859,375 0 0 Bank of New Zealand Act, 1945 — Shares acquired 4,212,396 0 0 10,148,722 7 3 Finance Act, 1948, section 3 (4) — Shares acquired 6,354 0 0 10,198 3 2 £6,328,125 0 0 £12,018,295 10 5 British Commonwealth Pacific Airlines, Ltd.— Finance Act, 1946, section 3— £ s. d. Shares acquired : 300 £1,000 shares 300,000 0 0 British Petroleum Co. of New Zealand, Ltd.— Finance Act (No. 2), 1946, section 3 — Shares acquired : 1,275,000 £1 shares paid up to 17s. 1,083,750 0 0 British Phosphate Commissioners — Finance Act, 1920, section 15— Capital advanced 483,899 15 3 Christmas Island Phosphate Concession — Finance Act (No. 2), 1948, section 2— Capital advanced 1,375,000 0 0 Kamo Collieries, Ltd. — Statutes Amendment Act, 1945, section 9— Shares acquired .. 104,000 0 0 Linen Flax Corporation— Linen Flax Corporation Act, 1945, section 13— Capital advanced 300,000 0 0 New Zealand National Airways CorporationNew Zealand Airways Act, 1945, section 25— Capital advanced . . 1,225,000 0 0 New Zealand Woolpack and Textiles, Ltd.— Finance Act, 1940, section 15— Shares acquired— 600,000 5s. shares paid up to Is. ; calls in advance to 4s. .. 150,000 0 0 Reserve Bank of New Zealand — Reserve Bank of New Zealand Act, 1933, section 11-— General Reserve Fund 1,500,000 0 0 State Advances Corporation— State Advances Corporation Act, 1934-35, section 6, and State Advances Corporation Act, 1936, section 6— Capital advanced . 1,000,000 0 0 State Advances Corporation Act, 1934-35, section 33 (2) — State's contribution to General Reserve Fund .. 2,753,164 1 11 State Advances Corporation Act, 1934-35, section 38 — Stock issued in exchange for securities transferred to the Corporation 34,044,850 0 0 Tasman Empire Airways, Ltd.— Finance Act (No. 2), 1939, section 2— Shares acquired : 375,000 £1 shares 375,000 0 0 Taupiri Coal Mines, Ltd.— Statutes Amendment Act, 1945, section 9— Shares acquired .. .. .. •• 807,240 10 0 Total £57,520,199 17 7

B—l [Pt. I]

STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1949

THE PUBLIC DEBT OF NEW ZEALAND

Domicile of Principal. Interest Charge. Due Date 1 and Z P " 0nal 05 Interest in Remarks. New Zealand. London. uaies. Xew Zealand Ph Currency. £ s. d. £ s. d. % £ 3,185 0 0 .. Various .. .. .. Overdue and unpresented. 4,350 0 0 .. .. Free .. Repayable on various dates. 15 April, 1949 .. .. Option to repay £451,100 maturing 15th April, 1951. 7,094,400 0 0 .. 15 June, 1949 2| 177,360 Subject to offer of conversion on 15th Jane, 1949. 311,994 16 3 .. 15 Sept., 1949 2|- *70,364 * Being interest payable at maturity. 7,500,000 0 0 15 Dec., 1949 5 375,000 9,712,540 0 0 .. 15 Feb., 1950 2 J 242,814 Subject to offer of conversion on 15th .Tune, 1949. 15 April, 1950 .. .. Option to repay £9,600,710 maturing 15th April, 1951. *628,226 0 0 1,250,000 0 0 1 Feb., 1951 5J 103,302 * Repayable in" Australian currency, £(A.)779, 000. 451,100 0 0 .. 15 April, 1951 2\ 11,278 Repayable at the option of the Government at par on or after 15th April, 1949, on three months' notice. 9,600,710 0 0 ... 15 April, 1951 2\ 240,018 Repayable at the option of the Government at par on or after 15th April, 1950, on three months' notice. 1 Aug., 1951 .. .. Option to repay £6,432,400 maturing 1st August, 1954. 12,432,440 0 0 .. 15 May, 1952 4 497,298 Subject to offer of conversion on 15th June, 1949. 15 June, 1952 .. .. Option to repay £8,496,745 maturing 15th June, 1955. 1 July, 1952 .. .. Option to repay £12,000,000 maturing 1st July, 1955. 15 Sept., 1952 .. .. Option to repay £9,871,680 maturing 15th September, 1955. .. .. 15 Jan., 1953 .. .. Option to repay £8,891,920 maturing 15th January, 1957. 15 May, 1953 .. .. Option to repay £7,305,405 maturing 15th May, 1956. 9,585,450 0 0 .. 1 Oct, 1953 2J 239,636 15 Dec., 1953 .. .. Option to repay £17,549,020 maturing 15th December, 1956. 7,322,579 0 0 1 Feb., 1954 3f 256,290 Subject to offer of conversion on 1st June, 1949. 31 May, 1954 .. .. Option to repay £4,977,400 maturing 31st May, 1958. .. .. 15 June, 1954 22 1 .. Option to repay £1,250,000 maturing 15th June, 1955.

B—l [Pt. I]

6,432,400 0 0 1 Aug., 1954 3 192,972 Repayable at the option of the Government at par on or after 15 Feb., 1955 1st August, 1951, on three months' notice. Option to repay £22,314,285 maturing 15th February, 1958. 8,496^745 0 0 15 June, 1955 4* 339,870 Repayable at the option of the Government at par on or after 15th June, 1952, on three months' notice. 1,250,000 0 0 15 June, 1955 2i 31,250 Repayable at the option of the Government at par on or after 15th June, 1954, on three months' notice. 12,000,000 0 0 1 July, 1955 3 360,000 Repayable at the option of the Government at par on or after 1st July, 1952, on three months' notice. 9,871,680 0 0 15 Sept., 1955 3 296,150 Repayable at the option of the Government at par on or after 15 Oct., 15 Jan., 1955 1956 15th September, 1952, on three months' notice. Option to repay £6,311,679 maturing 15th October, 1960. Option to repay £6,203,710 maturing 15th January, 1959. 7,305^405 0 0 15 May, 1956 3 2i9,162 Repayable at the option of the Government at par on or after 15 April, 1 Nov., 1956 1956 15th May, 1953, on three months' notice. Option to repay £8,439,010 maturing 15th April, 1959. Option to repay £5,000,000 maturing 1st November, 1971. 17,549^020 0 0 15 Dec., 1956 3 526,471 Repayable at the option of the Government at par on or after 15th December, 1953, on three months' notice. 8,891,920 0 0 15 Jan., 1957 34 311,217 Repayable at the option of the Government at par on or after 15th January, 1953, on three months' notice. 35,900,000 0 0 15 July, 1957 2i 897,500 42,270,000 0 0 15 Aug., 1957 2* 1,056,750 20,000,000 0 0 15 Sept., 1957 3 600,000 15 Sept., 1957 Option to repay £14,239,000 maturing 15th September, 1960. 35,100 j000 0 0 15 Oct., 1957 H 877,500 1,407,170 0 0 15 Nov., 1957 3 42,215 Tax-free non-transferable stock. # , 15 Nov., 1957 Option to repay £6,560,335 maturing 15th November, 1960. 22,314,285 0 0 15 Feb., 1958 3 669,429 Repayable at the option of the Government at par on or after 15th February, 1955, on three months' notice. 4,977,400 0 0 31 May, 1958 4 199,096 Repayable at the option of the Government at par on or after i 31st May, 1954, on three months' notice. 40,800,000 0 0 15 Nov., 1958 3 1,224,000 22,200,000 0 0 15 Dec., 1958 3 666,000 6,203,710 0 0 15 Jan., 1959 3i 201,621 Repayable at the option of the Government at par on or after the 15th January, 1956, on three months' notice. 8,439,010 0 0 15 April, 1959 3 253,170 Repayable at the option of the Government at par on or after 15th April, 1956, on three months' notice. 20,000,000 0 0 15 June, 1959 1 200,000 Carried forward 369,233,140 16 3 28,072,579 0 0 1 11,377,733

B—l [PT. I]

STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1949— continued

THE PUBLIC DEBT OF NEW ZEALAND

Domicile of Principal. Interest Charge. Due Date and Optional Interest in Remarks. New Zealand. London. uares. .2 New Zealand $ Currency. £ s. d. £ s. d. £ Brought forward % 369,233,140 16 3 28,072,579 0 0 1 Mar., 1960 11,377,733 Option to repay £7,339,656 maturing 1st March, 1964. ' i ■ ' 0 0 15 April, 1960 H Option to repay £12,707,155 maturing 15th April, 1963. 264,750 22 May, 1960 9,266 14,239,000 0 0 15 Sept., 1960 3i 462,768 Repayable at the option of the Government at par on or after 6,311,679 15th September, 1957, on three months' notice. 0 0 15 Oct., 1960 H 220,909 Repayable at the option of the Government at par on or after 6,560,335 15th October, 1955, on three months' notice. 0 0 15 Nov., 1960 3 196,810 Repayable at the option of the Government at par on 15th November, 1957, on three months' notice. or after 17,000,000 0 15 July, 1961 Option to repay £16,706,390 maturing 15th July, 1963. 0 15 Mar., 1962 i i70, 000 15 July, 1962 Option to repay £19,770,445 maturing 15th July, 1964. 12,707^55 0 0 1 Sept., 1962 Option to repay £17,238,187 maturing 1st September, 1965. 15 April, 1963 3 381,215 Repayable at the option of the Government at par on or after 16,706,390 15th April, 1960, on three months' notice. 0 0 15 July, 1963 3 501,192 Repayable at the option of the Government at par on 15th July, 1961, on three months' notice. or after 7,339; 656 15 July, 1963 Option to repay £23,542,315 maturing 15th July, 1965. 0 0 1 Mar., 1964 H 256,888 Repayable at the option of the Government at par on 1st March, 1960, on three months' notice. or after 19,770,445 0 0 15 July, 1964 3 593,113 Repayable at the option of the Government at par on or after 23,542,315 15th July, 1962, on three months' notice. 0 0 15 July, 1965 3 706,269 Repayable at the option of the Government at par on 15th July, 1963, on three months' notice. or after 17,238,187 0 0 1 Sept., 1965 3* 560,241 Repayable at the option of the Government at par on or after Sept., 1st September, 1962, on three months' notice. 16,000 j000 1 1966 Option to repay £16,000,000 maturing 1st September, 1968. 0 0 1 Sept., 1968 3 480,000 Repayable at the option of the Government at par on 1st September, 1966, on three months' notice. or after

B—l [Pt. T1

By the New Zealand Loans Amendment Act, 1947 (re-enacting the Repayment of the Public Debt Act, 1925), means are provided whereby the whole of the public debt other than that raised for State Advances purposes and other portions for which special statutory provision has been made will be extinguished in approximately sixty years from the time of coming under the provisions of the Act or, for subsequent loans, sixty years from the date of issue. The repayment scheme comprises an annual contribution from the Consolidated .Fund of £ per cent, of the debt coming within its provisions, together with an additional 4 per cent, of the debt redeemed under the 1925 Act and under paragraph (b) of section 12 of the 1947 Act. The total of loans coming within the repayment scheme as at 31st March, 1949 was £544,994,357 9s. 9d.

, 5,000,000 0 0 1 Nov., 1971 5 250,000 Repayable at the option of the Government at par on or after 1st November, 1956, on three months' notice. 55,000,000 0 0 Various 1 550,000 Treasury bills. 535,023,530 16 3 79,962,101 0 0 16,716,404 £614,985, 631 16 3 £ s. d. Amount domiciled for repayment in New Zealand .. 534,395,304 16 3 Amount domiciled for repayment in Australia 628,226 0 0 (Australian currency, £779,000) Amount domiciled for repayment in London .. 79,962,101 0 0 £614,985,631 16 3 The above total securities charged on the public revenues and outstanding at 31st March, 1949, excludes debt as under : —- — London Debt. £ s. d. Advances from Imperial Government funded in terms of section 8 of the Finance Act, 1922 (interest suspended by agreement 24,100,199 10 7 with Imperial Government from 1931 ; no ' maturity date attaches to loan) Other debt (interest suspended by agreement with Imperial Government from 1931 ; loan matures 1st December, 1955) 2,090,909 1 9 £26,191,108 12 4

B—l [Pt. I]

ADVANCES BY THE RESERVE BANK TO THE GOVERNMENT BY WAY OF OVERDRAFT OUTSTANDING ON 31st MARCH, 1949

TRANSACTIONS IN CONNECTION WITH THE PUBLIC DEBT IN THE YEAR ENDED 31st MARCH, 1949

Details of Above External debt— London— Decreases— Repayments from— £ s. d. £ s. d. £ s. d. New issues in New Zealand .. 3,000,000 0 0 Loans Redemption Account .. 225,465 0 0 Exchange Adjustment .. 20,796,891 10 0 24,022,356 10 0 Australia— Decrease— Exchange adjustment .. .. .. 150,774 0 0 — 24,173,130 10 0 Internal debt— Increases—• New issues for— National development purposes ~ 28,284,425 0 0 Exchange adjustment .. .. 20,000,000 0 0 Repayments in London .. 3,000,000 0 0 „ Purchase of Bank of New Zealand shares .. .. .. 1,330 0 0 Renewal of loans falling due .. 964,850 0 0 Miscellaneous .. .. 255 0 0 52,250,860 0 0 DecreaseRepayments from Loans Redemption Account .. .. .. .. .. 11,967,527 6 6 Increase in internal debt.. .. .. 40,283,332 13 6 Net increase .. .. .. .. .. .. £16,110,202 3 6

Authority for Advances. Particulars of Advances. Account. Amount. Marketing Amendment Act, 1939, section 5 Total ach Advances for the purchase of foodstuffs and other commodities nances as at 31st March, 1949 .. Marketing Account £ Si d. 1,593,351 18 6 £1,593,351; 18 6

— Outstanding 31st March, 1948. Outstanding 31st March, 1949. +Increase. —Decrease. External debt— London Australia.. Internal debt— Long-term debt .. Floating debt £ s. d. 103,984,457 10 0 779,000 0 0 439,111,972 2 9 55,000,000 0 0 £ s. d. 79,962,101 0 0 628,226 0 0 479,395,304 16 3 55,000,000 0 0 £ s. d. -24,022,356 10 0 -150,774 0 0 +40,283,332 13 6 598,875,429 12 9* 614,985,631 16 3* + 16,110,202 3 6 * Excludes debt due to the Imperial Government as per note on page 71.

B—l [Pt. I]

LOANS GUARANTEED BY THE GOVERNMENT Contingent Liability outstanding on 31st March, 1949

* Repayable by half-yearly instalments. t The Audit Office does not audit the accounts of the State Advances Corporation. This amount has been accepted as correct on the certificate of the Corporation. Section 6 of the Hutt Road Act, 1939, provides that the Wellington City Council shall be kept indemnified out of the Consolidated Fund from all liability in respect of loans specified in 17 T the First Schedule of the Act totalling £276,020. At 31st March, 1949, £150,600 was outstanding, lj - brREENSMITH, against which the Public Trustee held sinking funds totalling £127,586 4s. 2d. Artiricr Sprrpt.arv t,n t.Tip Trpasnrv Section 4 (3) of the Finance Act (No. 2), 1946, provides that if any loss is suffered by the ilCting Secretary TO tne ireasury . Reserve Bank in respect of any moneys advanced to Governments of other countries to finance the purchase of New Zealand produce, the amount of the loss shall be paid to the Reserve Bank out of the Consolidated Fund. As at 31st March, 1949, credits granted for the purpose of „ financing purchases of wool from New Zealand amounted to £4,723,798 Is. 3d. to the Govern- A. Jt>. IAYLOR, Re e pubiL the French RepubKc ' and £143,75 ° 2s< 4d- t0 the Government of the Czechoslovak Accountant to the Treasury. The Treasury, Wellington, 9th June, 1949. B-l [Pt. I] examined and found correct— J. P. Rutherford, Controller and Auditor-General. Audit Office, Wellington, Bth July, 1949.

Approximate Cost of Paper.—Preparation, not given; printing (843 copies), £174.

By Authority: R. E. Owen, Government Printer,. Wellington,—l 949,

—J Price Is. 6d,}

Loans Guaranteed. | Authority for Government Guarantee. Amount Outstanding. DUE DATE. Rate of Interest. LOANS OF LOCAL AUTHORITIES £ s. d. % Oamaru Harbour Board Finance Act, 1937, sec. 42 32,232 0 0* 1 April, 1952 4 STATE ADVANCES CORPORATION Stock and Debentures — Special Series State Advances Corporation Act, 1936, sec. 99 25 7,744,850 0 0 1 Aug., 1960 3| 99 • • • • • • • • 6,500,000 0 0 1 Aug., 1963 3f 99 • • • • • • • • 99 6,500,000 0 0 1 Aug., 1966 3f 99 •• •• •• •• 99 6,500,000 0 0 1 Aug., 1969 3f 99 • • • • • • 99 6,500,000 0 0 1 Aug., 1972 3f 99 • • • • • • • • 99 6,500,000 0 0 1 Aug., 1975 3| 99 • • • • • • 5? 7,000,000 0 0 1 Aug., 1978 3| Series " A " 99 477,740 0 0 1 Sept., 1955-60 3f „'"C" 99 6,000,000 0 0 1 Aug., 1971 3 „ " C " 99 8,000,000 0 0 1 Aug., 1973 3 „ "C" 99 3,000,000 0 0 1 Aug., 1974 3 64,722,590 0 0 Loans to industries State Advances Corporation Act, 1936, sec. 29 126,946 0 6 tv arious Total, State Advances Corporation loans £64,849,536 0 6 1

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THE PUBLIC ACCOUNTS FOR THE Financial Year 1948-1949 Certified to by the Controller and Auditor-General under the Public Revenues Act, 1926, Appendix to the Journals of the House of Representatives, 1949 Session I, B-01-part01

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THE PUBLIC ACCOUNTS FOR THE Financial Year 1948-1949 Certified to by the Controller and Auditor-General under the Public Revenues Act, 1926 Appendix to the Journals of the House of Representatives, 1949 Session I, B-01-part01

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THE PUBLIC ACCOUNTS FOR THE Financial Year 1948-1949 Certified to by the Controller and Auditor-General under the Public Revenues Act, 1926 Appendix to the Journals of the House of Representatives, 1949 Session I, B-01-part01

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• the Clerk of the House of Representatives
• third parties (which may include government agencies, political parties, or people that have made submissions or others).

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Clerk of the House of Representatives

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Pages 21-40 of 72

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THE PUBLIC ACCOUNTS FOR THE Financial Year 1948-1949 Certified to by the Controller and Auditor-General under the Public Revenues Act, 1926 Appendix to the Journals of the House of Representatives, 1949 Session I, B-01-part01

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THE PUBLIC ACCOUNTS FOR THE Financial Year 1948-1949 Certified to by the Controller and Auditor-General under the Public Revenues Act, 1926 Appendix to the Journals of the House of Representatives, 1949 Session I, B-01-part01

Using This Item