8.—20

1922. NEW ZEALAND.

THE PUBLIC DEBT EXTINCTION ACT, 1910 (CERTIFICATE OF CONTROLLER AND AUDITOR-GENERAL UNDER).

Laid on the Table in compliance with Section 24 of the Public Debt Extinction Act, 1910.

As directed by section 8 of the Public Debt Extinction Act, 1910, I hereby certify that — 1. The amount of the public debt of New Zealand as defined in section 2 of the said Act was, on the 31st day of March, 1922, £114,484,456. For the purposes of this certificate the total public debt must be considered as £115,000,000. 2. The actual average; net rate of interest earned during the three years to the 31st March, 1922, has been ascertained to be £4-324109 per centum per annum. 3. The sum required to be invested each year at compound interest at £4-324109 per centum per annum, which would in seventy-five years amount to £115,000,000, is £216,913. Dated at Wellington, this 31st day of July, 1922. 6. F. C. Campbell, Controller and Auditor-General.

Approximate Cost of Paper. —Preparation, not given ; printing (+7."> copies), £1 5&.

Authority: W. A. G. Skinner, Government Printer, Wellington.—l922.

Price 3d.]