A.—4

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Loan Account. The position of the Loan Account (borrowed from the New Zealand Government) is unchanged, no loan expenditure having been incurred during the year, and the amount remaining outstanding being £165,200, full particulars of which were furnished in 1928-29 report. Redemption Fund. Under section 33 of the Samoa Act, 1921, the loans are repayable in thirty years from the date on which raised. This is arranged by means of annual instalments of approximately 1-6 per cent., which are assessed and invested by the New Zealand Treasury. Up to the 31st March, 1930, the amount so set aside in New Zealand Government securities is £15,494 os. lOd. Revenue and Expenditure. The following table gives a comparison between the revenue and the expenditure of the Territory over a period of six years :—

It is perhaps necessary to point out that of the revenue (£151,416) received for 1929-30 the sum of £10,846 represents revenue receipts of the Engineering and Transport Department, which was taken over by the Administration as from, the Ist August, 1929, and of the expenditure (£131,280) the sum of £10,065 represents expenditure on the same service. These figures have, of course, little effect on comparison between revenue and expenditure. This table is accurate as a means of comparing the revenue and expenditure last year with those of previous years, and it will be noted that, apart from the extraneous and probably temporary item on account of extra police, which has not previously been taken into the Samoan accounts, the Territory during last year has for the first time paid for itself, the surplus being more than sufficient to offset the subsidy. This has been effected without any real diminution of services. The following table, however, which, on the one hand, takes into account all the expenditure of the Territory (including the police), and, on the other, distinguishes between revenue as such and the subsidy from New Zealand, gives a clearer conspectus of the financial position during the last six years :—

! _ Revenue, including I E dit Ordinary Year " Government " Account). £ £ 1924-25 .. .. .. .. .. 130,914 135,523 1925-26 .. .. .. .. .. 150,038 145,687 1926-27 .. .. .. .. .. 133,812 141,710 1927-28 .. .. .. .. .. 126,038 143,421 1928-29 .. .. .. .. .. 141,904 130,455* 1929-30 .. .. .. .. .. 151,416 131,280* * The cost of the Samoa Military Police and of the Samoan Constabulary has been paid by the New Zealand Government, and is not included in the above.

j Actual [ Subsidy from ; Actual Revenue ' 6 ew Zealand, „■ „i Tv-fini* __ Year. obtained in the includi 4°Polio e Deficit " including Amount g and excluding | Police. Loan Account. £ £ £ 1924-25 .. 111,774 135,523 23,749 19,140 -4,609 1925-26 .. 128,638 145,687 17,049 21,400 +4,351 1926-27 .. 113,812 141,710 27,898 20,000 -7,898 1927-28 .. .. 106,038 143,421 37,383 20,000 -17,383 1928-29 .. 121,904. 157,829* 35,925* 47,374* +11,449* 1929-30 .. 131,416 , 150,728* 19,312* 39,448* +20,136* * Including expenditure on extra police, not incurred in previous years, of £27,374 in 1928-29 and £19,448 in 1929-30.