B.—l [Pt. Ill].

THE PUBLIC DEBT OF NEW ZEALAND. STATEMENT OF SECURITIES PAYABLE FROM THE CONSOLIDATED FUND AND OUTSTANDING ON 31st MARCH, 1933.

PUBLIC ACCOUNTS, 1932-1933.

a Sinking funds to the amount stated below exist for the extinction of that portion of the debt relating to the following accounts : State Coal-mines Account, £8,299 9s. Bd.; Electric Supply Account, £83,791 125.; Westport Harbour Account, £235,903 14s. 2d.; Samoan Loan Suspense Account, £11 9s. lid.; State Advances Account— Advances to Settlers Branch, fi ,910,946 Bs. 2d.; Advances to Workers Branch, £86,342 12s. 10d.; Advances to Local Authorities Branch, £184,249 14s. 7d.: total, £2,509,545 Is. 4d., particulars of which appear on pages 16 and 17. In addition to the special sinking funds mentioned above, special provision exists for the repayment of that portion of the debt funded by agreement with the Imperial Government, particulars of which are given on page 13. It is estimated that this portion of the debt would under the original agreement be extinguished during the financial year ending on the 31st March, 1958. Payments have been suspended by arrangement with the Imperial Government. By the Repayment of the Public Debt Act, 1925, means are provided whereby the whole of the Public Debt other than those portions for which separate sinking funds exist will be extinguished in approximately sixty years from the time of coming under the provisions of the Act. The total of loans coming within the provisions of the Repayment of the Public Debt Act, 1925, is £208,209,199. The Redemption Fund Capital Account under the above Act is as follows : (1) Held by State Advances Office, £3,258,955 19s. 4d. ; (2) held by Public Trustee, £7,966,688 lis. 2d.; (3) held in Discharged Soldiers Settlement Account, £8,000,000: total, £19,225,644 10s. 6d. The interest on the Redemption Fund capital is paid over to the Consolidated Fund as a set-off against the annual payments made by the latter fund to the Repayment of the Public Debt Account— viz., \ per cent, of the public debt comins under the provisions of the Act, together with 3J per cent, of the debt redeemed in accordance with the Act.

12

Annual Charge. Amount Hpmarkft outstanding. Due Date. ° $ £ £ Interest. When payable. P3« 1 I ] ! £ s. d. I °/ £ Brought forward .. .. .. ,281,037,957 15 5 .. 14,707,881 Public Revenues Act, 1926, Section 41— Treasury Bills .. .. .. .. 100,000 0 0 j 30 June, 1933 j 3 3,000 10,000 0 0 I 25 Aug., 1933 4 1 400 1,475,000 0 0 31 Mar., 1934 S 3 | 44,250 ' 1,585,000 0 0 Finance Act, 1931 (No. 4), Section 7, SubsecSECTION (2) Deed of hypothecation over Discharged Soldiers 2,250,000 0 0 .. 5J 123,750 31 Mar. and 30 Sept. Settlement securities j * .. 200,000* .. * Repayable £200,000 per annum or ninety days after Total securities payable from the Consolidated 3,835, 000 0 0 .. .. .. demand. Fund Total securities outstanding 31st March, 1933.. 284,872,957 15 5a .. .. 15,079,281 — — ! i Analysis of Annual Chabge. £ : Interest .. .. .. 13,005,134 Amortization .. .. 2,074, 147 ! £15,079,281 j