B.—l [Pt. ll].

Summary of the Transactions of the Ordinary Revenue Account. The following statement, which shows the result of the transactions of the Ordinary Revenue Account for each year in the period from Ist April, 1912, to 31st March, 1939, should prove of interest. The cash balance at the beginning of the year has been added to the surplus and any deficit subtracted, and the manner in which the moneys remaining have been applied is also shown : —

Except for the " Miscellaneous" items the statement will be found selfexplanatory. The details of miscellaneous receipts show that in the year 1925-26, £475,992 was received from Consols Account, which was closed. The remainder of the amount received in that year—viz., £186,227—was credited on account of reparations, as also was £39,307 in the following year. The amounts received in the years 1931-32, 1932-33, and 1933-34 total £24,036,981 and represent the proceeds of Treasury bills issued under the provisions of the Public Revenues Act, 1926, and the Banks Indemnity Exchange Act, 1932-33. These bills were repaid from Ordinary Revenue Account, £21,326,981, and Public Debt Repayment Account, £2,710,000, in the year 1934-35. The latter payment does not, of course, appear in the statement, whilst the former is included in the item of £22,927,193 appearing in the column " Redemption of Debt." Miscellaneous advances and transfers totalling £2,427,131 were made — £1,200,000 to Reserve Fund, £100,000 to Education Loans Account, £473,392 to Working Railways Account, £45,000 to State Forests Account, £5,000 to Westport Harbour Account, £531,416 for Unemployment Relief, and £33,323 for earthquake relief. During the year a loan of £39,000 made, to the Waikato Land Settlement Association was cancelled in terms of section 19, Reserve and other Lands Disposal Act, 1938.

X

Receipts. Expenditure. | Miscellaneous Transfers Advances Micella i Receipts Trflmfprs Transfers Transfers to | 0 T0 Rural Miscella- Transfers Excess of | credited to i>, l h|j ( ". Discharged ;jq ew Inter- . I 1 ieous and Redemption Balance at. Year. Receipts over j Ordinary Advances Works Zealand mediate and^ 8 Advances of Debt. end of Year. Expenditure. Eeve , uu ® „ recovered. Fund. ' Shares Credit Transfers recoverable. Account other Account. Account. Board. "ansiers. j than Income. i : — ■ j ■*" | £ ££££££££ ££ l 911 _ 12 . . .. .. .. •• 807 > 27< 1912-13 652,232 .. .. 750,000 .. .. .. .. •• •• ™'qa| 1913-14 392,397 .. .. 675,000 .. .. .. •• •• •• 426,90. 1914-15 72,142 .. .. 350,000 .. .. .. •• 149,04 1915-16 2,017,030 .. .. .. •• •• •• •• 1916-17 4.308,777 .. .. .. ■■ •• •• 1917-18 5,085,934 .. .. .. • • •• •• 1918-19 3,678,772 .. .. .. •• •• •• ■■ •• 1919-20 2,299,416 .. .. • • •• •• •• 1920-21 6,132,232 .. .. 500,000 13,380,000 .. .. 1,200,000 .. .. 8,591,20; 1921-22 Dr. 279,831 .. ■■ •• 220,000 .. .. .. .. I'fill'no, 1922-23 1,315,683 .. .. •• 50,000 .. .. .. 3,159,960 5.637,09 1923-24 1,812,365 .. .. 1,000,000 50,000 .. .. 100,000 .. 1,344,741 4,954,71 1924-25 1,248,222 .. .. 1,000,000 .. .. .. •• 1,052,130 4,150,80 1925-26 1,154,620 662,219 .. 500,000 .. .. •• 473,392 .. 566,161 4,428,09 1926-27 587 129 39 307 .. .. •• 808,594 .. .. 26,000 538,468 3,681,46i 1927-28 178,039 .! 26,000 250,000 .. 117,187 .. 120,106 .. 95,980 3,302,23: 1928-29 Dr. 578,380 .. ■■ ■■ ■■ 58,594 110,100 68,567 33,000 50 2,453,54 1929-30 147,040 .. 33,000 .. .. •• 162,000 115,244 .. .. 2,356,33, 1930-31 Dr. 1,639,111 .. ■■ ■■ ■■ ■■ 127,900 310,725 .. . 1931-32 Dr. 2,140,819 3,030,000 .. .. •• •• •• n •• " '«Vq ir 1932-33 40,142 935,337 .. .. .. " 16 027*79 1933-34 Dr. 709,278 20,071,644 530,000 .. .. .. •• 4,477, 81 ° .. 16,027,7-1934-35 1,626,498 .. 5,477,810 .. .. •• •• •• 22,927,193 204,83 1935-36 281,800 .. .. •• •• •• •• 7 > 000 •• 1936-37 472,030 .. 7,000 .. .. •• •• •• •• •• 1937-38 810,822 .. .. .. •• •• •• •• 1938-39 809,367 .. .. .. •• •• 39,000 .. .. 2,539,85 29,775,270 24,738,507 6,073,8105,025,000 13,700,000 984,375 400,000 2,427,131 6,073,810 130,244,693 2,539,85