B.—l [PT. ll].

Particulars of the transactions of the sinking funds of loans which are not subject to the Repayment of Public Debt Act and for which special sinking funds are provided will be found in Tables V and VI, 8.-l [Pt. Ill], and particulars of the Funded Debt to the Imperial Government are shown in Table IV, 8.-l [Pt. lII]. No special provision is made for the repayment of the debt of the State Advances Account, which at the end of the year amounted to £34,142,877 14s. 3d. Full reference to this matter was made in the report of the Controller and AuditorGeneral for the year ended 31st March, 1938. Increase and Decrease of the Public Debt. The transactions for the year of the Public Debt Accounts are'detailed as follows:— £ s Total debt as at 31st March, 1939 (see 8.-l [Pt. Ill], page 8) .. .. 303,970,272 3 2 Additions during the year— Ordinary Revenue Account— £ s. d. State Advances Corporation Account .. .. 3,608 0 0 Public Works Fund— General Purposes Account .. .. .. .. 9,553,449 4 1 Electric Supply Account .. .. .. .. 839,238 911 Housing Account .. .. .. .. .. 5,100,000 0 0 Main Highways Account .. - .. .. .. 2,609,972 2 7 State Coal-mines Account .. .. .. .. 25,000 0 0 State Forests Account .. .. .. .. 400,761 8 5 War Expenses Account .. .. .. .. 3,086,054 8 6 21,618,083 13 6 Reductions during the year— 325,588,355 16 8 From Electric Supply Sinking Fund Account .. .. 570,983 911 From State Coal-mines Sinking Fund Account .. .. 11,765 0 0 From Loans Redemption Account— Ordinary Revenue applied in redemption of the securities of— Public Works Fund— General Purposes Account .. .. .. 166,428 18 0 Reparation-moneys applied in redemption . . .. 805 0 0 War credits applied in redemption .. .. .. 2,700 0 0 Land for Settlements Account moneys applied in redemption . . .. . . . . .. 3,206 0 0 Main Highways Account moneys applied in redemption .. 6,020 0 0 Nauru and Ocean Islands Account moneys applied in redemption .. .. .. .. .. 33,445 0 0 Samoan Loan Sinking Fund Account moneys applied in redemption .. .. .. .. .. 5,130 0 0 From Public Debt Repayment Account— Ordinary Revenue Account—■ Mining Advances Account .. .. .. 5,490 0 0 War Expenses Account .. .. .. .. 238,055 15 4 Public Works FundGeneral Purposes Account .. .. .. 1,625,771 14 2 State Forests Account .. .. .. .. 8,900 0 0 Loans redeemed from loans raised in previous years for redemption .. .. .. .. .. 2,118 15 0 2,680,819 12 5 Total debt as at 31st March, 1940 (see 8.-l [Pt. Ill], page 9) .. .. £322,907,536 4 3 The foregoing statement shows that the total public debt has been increased during the year by £18,937,264 Is. Id. The long-term debt was increased by £10,057,264 Is. Id., and short-term Treasury Bills increased by £8,880,000, as shown in the following summary : — £ s. d. £ s. d. Treasury bills as at 31st March, 1939 .. .. 16,525,000 0 0 Treasury bills as at 31st March, 1940 .. .. 25,405,000 0 0 Increase.. .. .. .. .. .. 8,880,000 0 0 Long-term debt as at 31st March, 1939 .. .. 287,445,272 3 2 Long-term debt as at 31st March, 1940 .. .. 297,502,536 4 3 Increase.. .. .. .. .. .. 10,057,264 1 1 Increase as at 31st March, 1940 .. .. .. .. £18,937,264 1 1

V