B.—l [Pt. lII].

PUBLIC ACCOUNTS, 1935-1936.

THE PUBLIC DEBT OF NEW ZEALAND. STATEMENT OF SECURITIES PAYABLE FROM THE CONSOLIDATED FUND AND OUTSTANDING ON 31st MARCH, 1936-continued.

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, £8,821 Bs. 4d.; Electric Supply Account, £17,555 ss. Id.; Westport Harbour Account, £298,435 17s. 4d.; Samoan Loan Suspense Account, £4,037 17s. Id.; State Advances Account, £2,263,608 3s. 5d.: total, £2,592,458 lis. 3d. particulars of which appear on pages 12 and 13. 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 9. 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 Bepayment 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 Bepayment of the Public Debt Act 1925 is £210,862,371 os. 9d. The Bedemption 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, £6,000,000: total, £17,225,644 10s. 6d. The interest on the Bedemption Fund capital is paid over to the Consolidated Fund as a set-off against the annual payments made by the latter fund to the Bepayment of the Public Debt Account— viz., £ per cent, of the public debt coming under the provisions of the Act, together with 3per cent, of the debt redeemed in accordance with the Act.

8

Annual Charge. Domicile of Principal. outstanding. Due Date ' 0« Remarks. 3 83 Interest. When payable. New Zealand. London. Australia. 31 . . . i £ s. d. % £ £ s. d. £ s. d. £ Brought forward .. 282,561,097 19 9 .. ..11,278,040 .. 122,256,518 2 10 158,711,929 16 11 1,592,650 Amortization Charges. £ 1,624,700* Repayment of the .. .. .. * Estimated. Public Debt Act, 1925 458,700f Funded Debt .. .. .. .. f Represents principal repayment also suspended by agreement with Imperial Government. 9,000} State Coal-mines .. .. .. JPayable from the State Coal-mines Sinking Fund Account. Estimated. 10,859§ Westport Harbour .. .. .. § £3,859 sinking fund, 4£ per cent. Sinking Fund payable in respect of sinking funds 2,103, 259 used for redemption; and £7,000 sinking fund, 1 per cent, payable Total securities charged on 282,561,097 19 9 .. 13,381,299 .. 122,256,518 2 10 158,711,929 16 11 1,592,650 on £700,000 Westport Harbour the Public Revenues — — — 1 Loans. Finance Act, 1931 (No. 4), Section 7, Subsection (2) :— Deed of hypothecation over Dis- 2,900,000 0 0 ]| 3 87,000 30 Sept. and 31 Mar. 2,900,000 0 0 .. .. II Repayable £200,000 per annum or charged Soldiers Settlement ninety days after demand. Securities .. .. 200,000 1| Total securities outstanding 285,461,097 19 9 .. .. 13,668,299 .. 125,156,518 2 10 158,711,929 16 11 1,592,650 |_ _ 31st March, 1936 — — 1