8.—6.

Table No. 17. State Balance-sheet as at 31st March, 1937. Liabilities. Assets. Capital — £ s. d. Land and buildings, including Grown, settlement, and £ s. d. Public debt* .. .. .. 290,370,199 11 10 endowment land, departmental land and buildings 41,297,285 12 3 Rural Advances bonds .. .. 4,213,050 0 0 State forests, nurseries, and plantations .. .. 39,440,629 13 8 Employment Promotion Fund .. 566,170 4 2 Railways, including permanent-way and works, Public Debt Redemption Fund .. 17,225,644 10 6 rolling-stock, and unopened lines .. .. 60,562,282 2 8 Dairy Industry Ac- Telegraphs, telephones, and wireless systems .. 11,485,960 16 4 count overdraft — Electrical schemes .. .. .. .. 15,370,810 11 2 Primary Products £ s. d. Drainage and irrigation schemes .. .. 4,644,117 811 Marketing .. 6,171,503 6 6 Collieries, sawmills, quarries, &c. .. .. 447,672 12 4 Internal Marketing 54,405 2 1 Armament and military stores, aviation equipment 2,779,025 1 4 6,225,908 8 7 Oyster-beds, fish-hatcheries, equipment, &c. .. 123,091 6 7 Creditors — Wharves, bridges, harbour-works, lighthouses, &c... 709,658 19 4 Sundry .. .. .. .. 3,081,797 17 4 Plant, material, and furniture .. .. .. 3,900,029 0 4 Interest on public debt accrued but Libraries, books, museum exhibits, stationery, not due* .. .. .. 2,270,510 18 1 stamps, &c. .. .. .. .. 182,760 10 2 Wages and other payments accrued 15,359 18 10 Live and dead stock, farm crops, &c. .. .. 436,717 6 10 Payments in advance, <&c. .. .. 323,462 11 0 Government steamers, launches, motor-ears, &c. .. 521,895 14 10 Reserves — Advances on loan or mortgage .. .. .. 4,380,109 12 2 General .. .. .. 4,258,449 12 7 Dairy-produce on hand, &c.f .. .. .. 6,171,503 6 6 Sinking fund and reserves for loan- Debtors— redemption .. .. .. 2,715,371 17 10 Sundry .. .. .. .. •• 3,179,070 16 4 Depreciation .. .. .. 6,575,695 0 6 Unpaid purchase-price of land and buildings, and Fire, accident, and marine insurance, interest thereon .. .. .. .. 1,370,211 13 4 bad debts, &c. .. .. 973,059 II 4 Postponed rents, &c. .. .. .. 101,506 16 10 Amount held on deposit .. .. 756,435 1 3 Interest and rent, due and unpaid, and due and Suspense Account .. .. .. 222,141 7 2 accrued .. .. .. .. .. 1,329,542 1 2 Post Office investment and war-loan Special investments — certificates .. .. .. 790,696 3 8 Nauru phosphate rights .. .. .. 565,040 0 0 Miscellaneous liabilities .. .. 91 4 5 Bank of New Zealand shares .. .. .. 2,109,375 0 0 Excess of assets over liabilities .. 66,469,757 2 1 Reserve Bank of New Zealand .. .. 1,626,081 5 0 Public Trust Office (Public Debt Redemption Fund, &c.) .. .. .. .. 7,966,688 11 2 Crown interest in State Advances Corporation .. 54,217,881 0 2 Special assets of various accountsNative land schemes, (fee. .. .. .. 1,083,677 3 8 Unallocated loan charges .. .. . • 552,140 8 6 Payments in advance .. .. .. 417,466 11 8 Properties acquired by Crown and properties in course of realization .. .. .. 618,968 17 1 Investments — Reserve Fund .. .. .. .. 357,897 0 10 Sinking funds.. .. .. .. .. 640,015 3 0 Miscellaneous, including investment of Treasury accounts .. .. .. .. 7,518,693 7 0 National Development Account— Expenditure on— £ s. d. Main highways, roads, &c. 32,002,001 3 9 Development of mining .. 867,467 15 11 Education, &c. .. .. 8,752,949 14 3 Immigration .. .. 3,318,866 6 5 Harbour-works .. .. 1,047,448 9 1 Land-development .. 924,947 18 11 Other loan expenditure—• ; 46,913,681 8 4 War expenditure .. •• 67,475,747 9 5 Naval defence .. . . 1,389,656 1 5 Local bodies .. .. 3,037,229 19 2 Maori-land settlement .. 247,145 0 0 Miscellaneous .. .. 4,833,057 0 3 Cash— 76,982,835 10 3 Public Account .. .. 5,935,261 9 2 Receiver-General .. .. 105,974 19 7 State Advances Office Account 38,504 15 5 Broadcasting Account .. 100,339 10 6 Housing Account .. .. 43,133 4 6 Post Office or Post Office Savings-bank .. .. 477,877 15 4 Deposit accounts .. .. 48,689 9 5 In hand and in transit .. 35,451 1 9 Deposit with Bank of International Settlements .. 36,023 0 0 Public Trust Office .. 195,989 12 0 7,017,244 17 8 Miscellaneous assets .. .. .. .. 32,233 13 9 £407,053,801 1 2 £407,053,801 1 2 * See Note (2) below, f See Note (3) below. Notes. —(1) To account for the whole public debt, loan expenditure on war and other purposes not represented by tangible assets has been included under the heading " Other Loan Expenditure." Interest is received in respect of portion of the local bodies' loan expenditure. (2) Of the amount shown as public debt, £810,879 6s. Id. is held by investment accounts within the Public Account. Interest accrued in respect of this sum is also shown in both sides of the Balance-sheet. (3) As the accounts of the Primary Products Marketing Department close on 31st July, the accounts of the Primary Products Branch of the Dairy Industry Account are reflected herein by showing an asset for " Dairy-produce on hand, &c." against the liability for overdraft as at 31st March, 1937. (4) Contingent liabilities : — Subsidies (not including accumulated interest) short paid to — £ s. d. Teachers' Superannuation Fund .. .. .. .. 1,673,284 0 0 Public Service Superannuation Fund .. .. .. .. 2,951,007 0 0 4,624,291 0 0 Excess of subsidies recommended by Actuary over subsidies paid : Railway Superannuation Fund .. .. .. .. .. •• 1,755,275 0 0 £ s. d. 6,379,566 0 0 Local authorities, loans guaranteed by the Government .. 639,575 0 0 Less accumulated sinking funds .. .. .. 360,931 15 5 278,643 4 7 State Advances Corporation, stock guaranteed by the Government .. .. 39,774,500 0 0 £46,4-32,709 4 7

XV