8.—6.

Table No. 17. State Balance-sheet as at 31st Mabch, 1933. Liabilities. Assets. Capital—■ £ s. d. Land and buildings, including Crown, settlement and £ s. d. Public debt* .. .. .. 284,872,957 15 5 endowment land, departmental land and buildings.. 41,863,827 11 4 Rural Advances bonds .. .. 4,213,050 0 0 State forests, nurseries, and plantations .. .. 37,966,683 18 7 Public Debt Redemption Fund .. 19,225,644 10 6 Railways, including permanent-way and works, rollingCreditors— stock, and unopened lines .. .. .. 58,843,309 3 5 Sundry .. .. .. 1,698,538 6 6 Telegraphs, telephones, and wireless systems .. 10,929,750 12 2 Interest on debentures and stock Electrical schemes .. .. .. .. 12,109,989 15 7 due and unpaid .. .. 15,911 9 2 Drainage and irrigation schemes .. .. .. 3,908,354 1- 2 Interest accrued but not due .. 833,171 3 5 Collieries, sawmills, quarries, &c. .. .. .. 403,061 9 0 Wages and other payments accrued 8,326 1 4 Armament and military stores, aviation equipment .. 2,903,408 11 8 Payments in advance, &c. .. 423,864 4 4 Oyster-beds, fish-hatcheries, equipment, &c. .. 123,647 10 7 Reserves — Wharves, bridges, harbour-works, lighthouses, &c. .. 827,671 14 3 General .. .. .. 3,845,881 4 3 Plant, material, and furniture .. .. .. 3,293,915 13 6 Sinking Fund and reserves for loan Libraries, books, museum exhibits, stationery, stamps, redemption .. .. .. 3,515,827 7 4 &c. .. .. .. .. .. .. 371,593 17 9 Depreciation .. .. .. 7,286,761 11 2 Live and dead stock, farm crops, &o. .. . . 177,393 1 4 Fire, accident, and marine insurr Government steamers, launches, motor-cars, &c. .. 573,274 16 4 ance, bad debts, &c. .. .. 749,219 5 7 Advances on loan or mortgage .. .. .. 58,953,799 8 5 Amount held on deposit .. .. 472,680 10 9 Debtors— Suspense .. .. .. 122,741 10 4 Sundry .. .. .. .. .. 2,556,584 11 6 Post Office investment and war-loan Unpaid purchase-price of land and buildings .. 1,466,200 3 2 certificates .. .. .. 2,003,531 8 9 Postponed rents, &c. .. .. .. .. 373,045 5 0 Miscellaneous liabilities .. .. 26,000 17 10 Interest and rent, due and unpaid, and due and Excess of assets over liabilities .. 56,720,625 610 accrued .. .. .. .. .. 3,001,897 11 6 Principal and interest .. .. .. .. 707,752 15 3 Special investments — Nauru phosphate rights .. .. .. 565,040 0 0 Bank of New Zealand shares .. .. .. 2,109,375 0 0 Public Trust Office (Public Debt Redemption Fund) 7,966,688 11 2 Special assets of various accounts — Native land schemes, &c. .. .. .. 849,606 11 9 Unallocated loan charges .. .. .. 577,697 0 0 Earthquake expenditure .. .. .. 53,931 18 8 Payments in advance .. .. .. .. 224,201 3 5 Properties acquired by Crown and properties in course of realization .. .. .. .. .. 854,605 16 11 Investments — Reserve Fund .. .. .. .. 377,702 3 4 Sinking funds.. .. .. .. .. 348,099 6 5 Miscellaneous, including investment of Treasury accounts .. .. .. .. .. 8,692,751 5 2 National Development Account— Expenditure on—• £ s. d. Main highways, roads, &c. .. 27,246,371 19 1 Development of mining .. 867,727 15 11 Education .. .. 8,073,576 15 9 Immigration .. .. 3,320,005 14 7 Harbour-works .. .. 1,033,787 310 Land-development .. 636,827 1 3 Cost of raising loans . . 41,922 10 3 Settlement ol unemployed workers .. .. 118,721 14 1 41,338,940 14 9 Other loan expenditure— War expenditure .. .. 66,534,446 2 5 Naval defence . . .. 1,389,656 1 5 Local bodies .. .. 3,037,229 19 2 Maori-land settlement .. 247,050 0 0 Miscellaneous .. .. 6,159,391 3 1 77,367,773 6 1 Cash — New Zealand Government Indemnity Exchange Account .. .. .. .. . . 1,530,000 0 0 Public Account .. .. .. .. 1,335,021 9 5 Receiver-General .. .. .. .. 12,978 0 3 State Advances Office Account .. .. .. 104,083 1 2 Post Office or Post Office Savings-bank .. .. 299,272 5 11 Deposit accounts .. .. .. .. 20,564 5 2 In hand and in transit .. .. .. .. 41,044 6 5 Miscellaneous assets .. .. .. .. 10,194 16 0 £386,034,732 13 6 £386,034,732 13 6 Notes. —(1) To account for the whole public debt, loan expenditure on war and other purposes not represented by tangible assets has been included in the assets under the heading of " Other loan expenditure." Interest is received in respect to portion of the local bodies' loan expenditure. (2) Included in the above Balance-sheet are assets and liabilities from the Native Land Settlement Account and New Zealand Reparation Estates Balance-sheets, which had not been audited at the date of preparation of the State Balance-sheet. (3) Contingent liabilities— Subsidies (not including accumulated interest) short paid to— £ s. d. Teachers' Superannuation Fund .. .. .. .. 1,169,084 0 0 Public Service Superannuation Fund .. .. .. 1,898,843 0 0 3,067,927 0 0 Excess of subsidies recommended by Actuary over subsidies paid : Railways Superannuation Fund . . . . . . .. 1,020,000 0 0 £ s. d. 4,087,927 0 0 Local authorities loans guaranteed by Government .. 3,702,219 0 0 Less accumulated sinking fund .. .. 817,023 17 11 2,885,195 2 1 £6,973,122 2 1 * The analysis of the public debt on 31st March, 1933, was as follows: — £ Ordinary debt .. .. .. .. .. .. .. 169,826,539 War debt .. .. .. .. .. .. .. 66,724,765 State Advances debt .. .. .. .. .. 35,235,841 Discharged soldiers debt .. .. .. .. .. .. 9,120,476 Treasury bills issued in anticipation of revenue, outstanding 31st March, 1933 1,585,000 Treasury bills issued under Banks Indemnity (Exchange) Act, 1932-33, outstanding, 31st March, 1933 .. .. .. .. .. 2,380,337 £284,872,958

XV