8.—6.

Table No- 17- - continued. State Balance-sheet as at 31st March, 1934—continued. w w^ B 'T ( ij T ° i OT * he whole public debt, loan expenditure on war and other purposes not represented by tangible assets expenditure under the heading Other Loan Expenditure." Interest is received in respect of portion of the local bodies' loan (2) Of the amount shown above as public debt, £451,163 is held by investment accounts within the Public Account Interest accrued and interest due and unpaid in respect of this sum is also shown in both sides of the Balance-sheet. (3) Contingent liabilities :— Subsidies (not including accumulated interest) short paid to— £ s. d. Teachers' Superannuation Fund .. .. . . .. 1 340 084 0 0 Public Service Superannuation Fund .. .. .. .. 2 104 067 0 0 t, . , 3,444,151 0 0 Jixcess of subsidies recommended by Actuary over subsidies paid : Railway Superannuation Fund .. .. .. ~ 1,190,000 0 0 T , , . . , , 4,634,151 0 0 IjOcal authorities loans guaranteed by the Govern- £ • s. d. men t ■■ .. .. .. .. 2,978,075 o' 0 Less Accumulated sinking funds .. 880,107 13 5 — 2,097,967 6 7 £6,732,118 6 7 The analysis of the pubiie debt on 31st March, 1934, was as follows — ~~£ Ordinary debt .. .. 171,130,858 a J '• •' '• ■■ •• 66,724,765 fetate Advances debt .. .. .. . # gg 235 841 Discharged soldiers debt .. .. .. ~ ~ 6'843'551 Treasury bills issued in anticipation of revenue outstanding, 31st March, 1933 3'452,109 Treasury bills issued under Banks Indemnity (Exchange) Act, 1932-33, outstanding, 31st March, 1934 .. . . .. .. .. 19 404 872 v. • n , , „ . n 302,791,996 Advances obtained by hypothecation of Discharged Soldiers Settlement securities .. 4.050,000 £306,841,996

Table No. 18. PUBLIC DEBT. Statement of Half-yearly Instalments of Principal and Interest for Repayment of £27,532,164 advanced by the Imperial Government and funded in Terms of the Agreement dated 6th September, 1922.

XVI

Date Instalments paid. I Interest. j Principal. ! Ba,an ° e ! ? outstanding. £ £ ~£ 1st December, 1922 .. .. .. 684,794 141,171 27 390 993 1st June, 1923 681,282 144,683 27^246'310 1st December, 1923 677,684 148,281 27,098 029 1st June, 1924 .. .. .. . 673,996 151,969 26,946,060 1st December, 1924 .. .. .. 670,216 355,749* 26,590,311 1st June, 1925 661,367 164,598 26,425,713 1st December, 1925 .. .. .. 657,274 168,691 26,257 022 1st June, 1926 653,078 172,887 26,084,135 1st December, 1926 648,778 177,187 25,906,948 1st June, 1927 .. .. .. 644,370 181,595 25,725,353 1st December, 1927 639,854 186,111 25,539,242 1st June, 1928 635,225 190,740 25,343,502 1st December, 1928 630,481 195,484 25,153,018 1st June, 1929 .. .. .. .. 625,618 200,346 24,952 672 1st December, 1929 .. .. .. 620,635 205,330 24,747,342 1st June, 1930 .. .. .. .. 615,528 210,437 24,536^905 1st December, 1930 .. .. .. 610,294 215,671 24 321 234 1st June, 1931 604,930 221,035 ! 24,100^199 1st December, 1931f .. .. .. .. 24 100 199 * Includes £200,000 paid off the Naval Defence Loan in terms of the clause by which New Zealand has the right on giving three months' notice, to repay at par any part of the principal. ' . t Following on the " Hoover " moratorium, the Imperial Government agreed to postpone the instalments of P™°\P al a 5, d interest due in December, 1931, and June, 1932, only one half-yearly payment was therefore made in 1931-32. Further postponements from 1st July, 1932, were agreed to by the Imperial Government. No payments were therefore made from 1932-33 to 1934-35. l y