B. -6

III

Statement showing the Position of the Public Works Fund as at 31st March, 1918. Balance brought forward on Ist April, 1917 .... .... .... 021,525 Eeceipts,— Loan-money— Aid to Public Works and Land Settlement Act, £ 1914 .... .... .... .... 45,100 Finance Act, 1916, section 49 .... .... 700,000 Finance Act, 1917, section 77 .... .... 125,000 Other receipts .... .... .... .... 45,08(5 915,18(5 1,436,711 Expenditure,— Under appropriation.... ... .... .... 1,140,782 Other expenditure .... .... .... .... 440 1,141,172 Balance at 31st March, 1918 .... .... .... .£295,539* * Note.—The balance on 31st March, 1918, is made up as follows : — £ Cash in Public Account ... ... ... ... ... 181,372 Imprests in the hands of officers of the Government ... ... 114,167 £295,539 REDEMPTIONS AND RENEWALS. Excluding our liability to the Imperial Government for war expenditure, with which I have dealt elsewhere, the total debt falling due during the year amounted to £3,363,356, and of this amount £3,212,031 was renewed, £71,825 was redeemed with funds borrowed from the Post Office, £2,900 was provided by departmental funds, and £75,000 was paid off by the State Advances Office, leaving a balance of £1,600 representing unpresented debentures. CONVERSIONS. During the year 292 investors took advantage of the conversion scheme authorized by the New Zealand Inscribed Act, 1917. The total sum of £1,930,950 was converted into inscribed stock with twenty years' currency and bearing interest at 4| per cent, free of income-tax. LOANS PALLING DDE. The loans falling due during the seven years ending with the year 1925 are as follow:—

TREASURY. The number of payment vouchers which, passed through the Treasury during the year 1917-18 was 272,189, and during the year 1913-14 (the year before the war) the number was 196,455. The total lodgments to the Public Account were £66,800,000 and £17,000,000, and the total payments £65,000,000 and £17,100,000, for the above two years respectively.

.919 .920 .921 .922 .923 924 .925 Year ending 31st Maroh i London. £ 147,250 42,800 3,000 ... I 10,000 30,300 1,708,200 77,000 Australia. Now Zealand. Total. £ 51,000 29,400 537,900 914,100 666,050 29,300 £ 1,507,615 3,695,745 9,564,557 5,437,790 7,526,606 522,800 475,992 £ 1,705,865 3,767,945 10,105,457 6,361,890 8,222,956 2,260,300 552,992