B.— 6

X

INCREASE IN OUR INDEBTEDNESS. * Owing to the borrowing of the four-and-a-half-million and the three-million loans during the past year our public debt has increased by £5,706,850 since the 31st March, 1912. The increases were l — State-guaranteed Advances Debt :■ — £ Advances to settlers .. ... .. .. .. 337,763 (£36,100 at 3j per cent., London ; £73,900 at 3f per cent., Dominion ; £227,763 at 4 per cent., London.) Advances to workers .. .. . . .. .. 931,008 (£750,000 at 3 J per cent., London ; £174,008 at 4 per cent., London ; £7,000 at 4 per cent., Dominion.) Land for settlements . . . . . . .. ... 552,523 (£55,000 at %\ per cent., London; £125,300 at 3| per cent., Dominion ; £356,723 at 4 per cent., London ; £15,500 at 4 per cent., Dominion.) Local authorities . . . . . . . . . . . . 661,000 (£175,000 at 3j per cent., Dominion ; £86,000 at 3| per cent., Dominion ; £400,000 at 4 per cent., London.) Native-land settlement . . . . . . .. . . 80,000 (At 3f per cent., Dominion.) Guaranteed mining advances .. . . .. .. 10,000 (At 4 per cent., Dominion.) — £2,572,294 Public Works : — £ Aid to Public Works and Land Settlement Act, 1911 . . . . 950,000 (£876,000 at 3j per cent., London; £49,000 at 3f per cent., Dominion ; £25,000 at 4 per cent., Dominion.) Aid to Public Works and Land Settlement Act, 1912 (proportion £3,000,000 Stock Loan, 1912) .. .. .. .. 1,242,900 (At 4 per cent., London.) Aid to Water-power Works Act, 1912 . . . . .. 50,000 (At 3f per cent., Dominion.) Irrigation and Water-supply Account (Appropriation Act, 1912). . 15,000 (£IO,OOO at 3| per cent., Dominion ; £5,000 at 4 per cent., Dominion.) Government Railways Amendment Act, 1910 ..■ .. . . 28,780 (£15,000 at 3| per cent., Dominion ; £13,780 at 4 per cent., Dominion.) Immigration and Public Works Loan Act, 1870 (stock created— proportion £3,000,000 loan, 1912 —for redemption debentures due 15th April, 1913) . . . . . . . . . . 363,000 (At 4 per cent., London.) ■ 2,649,680 Less redemptions — Aid to Public Works and Land Settlement Act, 1900 . . .. . . .. . . 1,000 £2,648,680