A.—]STo. la.

Table C. TABLE SHOWING THE ANNUAL LIABILITY OF THE GENERAL AND PROVINCIAL GOVERNMENTS OF NEW ZEALAND, FOR INTEREST AND SINKING FUND ON LOANS, TO THE 30TH JUNE, 1868.

FINANCIAL STATEMENT,

17

LI J3ILITY ON THE 30th JUNE, 1868. LOANS AUTHORIZED. Debentures in Circulation on the 30th June, 1868. Annual Charge. REMARKS. Interest. Sinking Fund. Total. £ s. d. 316 0 0 £ s. d. £ s. a. £ s. d. General Government New Zealand Overdue Debentures issued under Ordinance of Legislative Council " New Zealand Loan Act, 1856," £500,000.—" The Public Debt Apportionment Act, 1858," made £380,000 of this a charge on the Provinces, leaving chargeable on the General Government But the Interest and Sinking Fund on £36,000, the portion allotted to Taranaki, is by the same Act to be paid by the Colony until certain conditions are fulfilled " New Zealand Loan Act, 1860," £150,000 ... "New Zealand Loan Act, 1863," £3,000,000 ... ,.. ... ... ... ... ... '' " Debenture Acts, 1864 and 1865 " " Treasury Bills Act, 1866" ... ... ... ... ... ... ... ... ... ... '"_ " Public Debts Act, 1867." —Telegraph extension, Lighthouses, Defence, redemption of Taranaki Debentures, and Marine Surveys 120,000 0 0 36,000 0 0 150,000 0 0 3,000,000 0 0 48,527 15 11 150,000 0 0 260,000 0 0 4,800 0 0 1,440 0 0 9,000 0 0 160,000 0 0 3,882 4 6 9,125 0 0 13,000 0 0 2,400 0 0 720 0 0 3,000 0 0 45,000 0 0 7,200 0 0 2,160 0 0 12,000 0 0 205,000 0 0 3,882 4 G 9,125 0 0 15,600 0 0 2,600 0 0 Interest in 1868 (Leap Year) will be £9,150. Provincial Governments — Auckland " Loan Act, 1863," £500,000 " New Zealand Loan Act, 1856," £500,000.—Portion allotted by " The Public Debt Apportionment Act, 1858 " Total General Government 3,764,843 15 11 201,247 4 6 53,720 0 0 254,967 4 6 By " The Pub] ic Debts Apportionment Act, 1858," Auckland is to be credited with the annual charge on £11,151 10s. lid. in diminution of the £90,000; the amount so credited, is to be paid by the other Provinces. By Resolution of the House of Representatives in 1860, £1,460 18s. lid. was deducted from the £11,151 10s. ljd., and Auckland is now credited annually with £581 8s. 8d., the same being charged on the other Provinces in the Colonial Treasurer's Account. 500,000 0 0 90,000 0 0 30,000 0 0 3,600 0 0 10,000 0 0 1,800 0 0 40,000 0 0 5,400 0 0 Takanaki Total Province of Auckland 590,000 0 0 33,600 0 0 11,800 0 0 45,400 0 0 " Loan Ordinance, 1862," £25,000 } " The Public Debts Act, 1867 " ) " New Zealand Loan Act, 1856," £500,000. —Portion allotted by " The Public Debt Apportionment Act, 1858," is at present chargeable on the General Government. See above. 25,000 0 0 1,250 0 0 250 0 0 1,500 0 0 WELLINGTON Total Province op Taranaki 25,000 0 0 1,250 0 0 250 0 0 1,500 0 0 " Loan Act, 1854 and 1855," £50,0001 Hawke's Bay will eventually have to bear a portion of this debt, meanwhile that Province contributes £2,500 per annum " Loan Act, 1866," ... £50,000 J towards the interest. All the Debentures in circulation are shown here, but the contribution of Hawke's Bay is deducted from the interest 49,900 0 0 50,000 0 0 2,742 0 0 2,750 0 0 1,000 O 0 2,742 0 0 3,750 0 0 In addition to the liabilities shown here, the sum of £32,000 has been raised by a mortgage on the reclaimed land in the City of Wellington. " Loan Act, 1862," £25,000 " Wanganui Bridge Act, 1863 " ... "Loan Act, 1866," (Manawatu), £30,000 ... ... ... ... ... ... ... '.['. \[ '" "' " New Zealand Loan Act, 1856," £500,000. —Portion allotted by " The Public Debt Apportionment Act, 1858," £54,000. On the separation of Hawke's Bay from Wellington, this charge was divided equally between the two Provinces, see Resolution of the House of Representatives, 3rd November, 1860, confirming the compromise between Hawke's Bay and Wellington, referred to in Appendix to Journals, House of Representatives, 1862, B. No. 3. Wellington is therefore charged with 25,000 0 0 16,000 0 0 30,000 0 0 2,000 0 0 1,600 0 0 3,000 0 0 1,000 O 0 3,000 0 0 1,600 0 0 3,000 0 0 27,000 0 0 1,080 0 0 540 0 O 1,620 0 0 Total Province of Wellington 197,900 0 0 13,172 0 0 15,712 0 0 2,540 0 0 Hawke's Bay "Loan Act, 1863-4," £60,000) " The Public Debts Act, 1867 " > " Wellington Loan Act, 1854 and 1855," and " Wellington Loan Act, 1866." See above ... " New Zealand Loan Act, 1856," £500,000. —Moiety of sum allotted to original Province of Wellington. See above. 60,000 0 0 3,000 0 0 600 0 0 3,600 O 0 27,000 0 0 2,500 0 0 1,080 0 0 540 0 0 2,500 O O 1,620 0 0 ■ Total Province of Hawke's Bay 7,720 0 0 87,000 0 0 6,580 0 0 1,140 0 0 Nelson " Debentures Act, 1858," £29,000. —" The Nelson and Marlborough Public Debt Apportionment Act, 1860," directs the respective liability of the two Provinces, after the separation of Marlborough, to be fixed by arbitration. Umpire awarded £21,500 to Nelson and £7,500 to Marlborough " Lunatic Asylum Act, 1862," £5,000. —This amount has not been raised ; if raised, it will form part of the £400,000 authorized by " The Public Debts Act 1867 " " Water Worts Loan Act, 1864," £20,000 " New Zealand Loan Act, 1856," £500,000. —Portion alloted by " The Public Debt Apportionment Act, 1858," £45,000; this, by " The New Provinces Act, 1858," is divided between Nelson and Marlborough in proportion to the Annual Revenue of each, the amount therefore varies each year In the Financial Year 1866-7 this was to Nelson, £30,687; to Marlborough, £14,313 ... ... ... ... ... ... ... ' *22,165 0 0 1,108 5 0 221 13 0 1,329 18 0 *This loan has been paid off in terms of the Loan Consolidation Act, but as no direction has yet been given by the Legislature in respect to this repayment, the interest and sinking fund have been computed on the terms on which the money has been raised under the Act referred to. 20,000 0 0 1,600 0 0 400 0 0 2,000 0 0 Maeibobotoh 30,687 0 0 1,227 9 8 613 14 9 1,841 4 5 Total Province of Nelson 5,171 2 5 72,852 O 0 3,935 14 8 1,235 7 9 " Nelson Debentures Act, 1858," £29,000.—Portion allotted to Marlborough. See above ... " New Zealand Loan Act, 1856," £500,000. —Part of sum allotted to original Province of Nelson. See above t 7,732 0 0 14,313 0 0 386 12 0 572 10 4 77 6 5 286 5 3 463 18 5 858 15 7 f The above remarks apply to this part of the loan also. Canterbury Total Province of Marlborough 22,045 0 0 959 2 4 363 11 8 1,322 14 0 " Loan Ordinance, 1856," £30,000 " Railway Loan Act, 1860," £300,000 (£50,000 cancelled) ... ... ... " Loan Ordinance, 1862," £500,000 " Public Debts Act, 1867" ... ... ... ... ... ..'. [[[ .'" " New Zealand Loan Act, 1856," £500,000.—Portion allotted by " The Public Debt Apportionment Act, 1858," and " The Public Debt Apportionment Act 1858 Amendment Act, 1861" 30,000 0 0 250,000 0 0 233,400 0 0 266,600 0 0 2,400 0 0 15,000 0 0 14,004 0 0 13,330 0 0 1,200 0 0 5,000 0 0 2,334 0 0 2,666 0 0 1,480 0 0 3,600 0 0 20,000 0 0 16,338 0 0 15,996 0 0 4,440 0 0 By " The County of Wcstland Act, 1867," the annual charge in respect of the loans of the Province of Canterbury, is divided between Canterbury and Westland, in proportion to the Customs revenue received in each. The proportions paid for the six months ending 30th Juno have been — Canterbury ... £10,316 18 3 Westland ... 12,064 8 8 Otaoo 74,000 0 0 2,960 0 0 Total Province of Canterbury 854,000 0 0 47,694 0 0 12,680 0 0 60,374 0 0 "Loan Ordinance, 1856," £35,000.—(£24,700 paid off) ... " Loan Ordinance, 1861-2," £50,000 ... . ...... " Loan Ordinance, 18G2," £500,000 ... ... ... ... "' " Harbour Loan Ordinance, 1862," £50,000 ... " Public Buildings Loan Ordinance, 1862," £50,000 " New Zealand Loan Act, 1856," £500,000.—Portion allotted by "The Public Debt Apportionment Act,' 1858," and " The Public Debt Apportionment Act 1858 Amendment Act, 1861," £81,000. " The Otago and Southland Public Debt Apportionment Act, 1861," directs the respective liability of the two Provinces alter the separation of Southland to be fixed by arbitration. Arbitrators awarded £63,000 to Otago and £18,000 to Southland. " Public Debts Act, 1867." —To enable the Province to fulfil the terms of " The Surplus Revenue Adjustment Act, 1867 "....' 10,300 0 0 50,000 0 0 500,000 0 0 50,000 0 0 50,000 0 0 1,030 0 0 4,000 0 0 30,000 0 0 4,000 0 0 4,000 0 0 1,500 0 0 5,000 0 0 1,500 0 0 1,500 0 0 1,030 0 0 5,500 0 0 35,000 0 0 5,500 0 0 5,500 0 0 £22,381 6 11 63,000 0 0 25,918 0 0 2,520 0 0 1,295 18 0 1,260 0 0 259 3 7 3,780 0 0 1,555 1 7 Total Province op Otago 749,218 0 0 46,845 18 0 11,019 3 7 57,865 1 7 Southland " Public Debts Act, 1867."—Amount required to pay off debts of the Province of Southland, as per certificates issued by the Auditor-General under the Southland Provincial Debts Acts of 1865 and 1866, with accrued interest thereon to 30th September, 1868 " Public Debts Act, 1867."—To enable the Province to fulfil the terms of " The Surplus Revenue Adjustment Act,' 1867 " ... " New Zealand Loan Act, 1856," £500,000. Part of sum allotted to original Province of Otago. See above 387,455 8 7 5,785 9 0 18,000 0 0 19,372 15 5 '289 5 5 720 0 0 3,874 11 1 57 17 1 360 0 0 23,247 G 6 347 2 6 1,080 0 0 ■ Total Province op Southland 411,240 17 7 20,382 0 10 4,292 8 2 24,674 9 0 TOTAL GENERAL TOTAL PROVINCIAL 3,764,843 15 11 3,009,255 17 7 201,247 4 6 174,4.18 15 10 375,666 0 4 53,720 0 0 45,320 11 2 99,040 11 2 254,967 4 6 219,739 7 0 TOTAL 6,774,099 13 6 474,706 11 6