THE PUBLIC DEBT OF NEW ZEALAND. STATEMENT OF SECURITIES CHARGED ON THE PUBLIC REVENUES OF NEW ZEALAND AND OUTSTANDING ON 31st MARCH, 1927—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, £55,105 6s. lOd.; Electric Supply Account, £38,662 13s. Od. ; Nauru and Ocean Islands Account, £163 lis. Od.; Westport Harbour Account, £202,797 Is. 4d. ; Samoan Loan Suspense Account, £6,755 7s. 6d. : total, £303,483 19s. Bd., particulars of which appear on pages 64 and 65. 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 61. It is estimated that this portion of the debt will be extinguished during the financial year ending on the 31st March, 1959. By the Repayment 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 Redemption 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 by Discharged Soldiers Account, £13,500,000 : total, £24,725,644 10s. 6d. The £13,500,000 held by Discharged Soldiers' Settlement Account is subject to deduction of the amount lawfully written off by virtue of the operation of the Discharged Soldiers' Settlement Acts, which at 31st March, 1927, amounted to £913,553. The interest on the Redemption Fund capital is paid over to the Consolidated Fund as a set-off against the annual payments made by the latter fund to the Repayment of the Public Debt Account— viz., J per cent, of the public debt coming under the provisions of the Act, together with 34 per cent, of the debt redeemed in accordance with the Act.

B.—l [PT. lIIJ.

PUBLIC ACCOUNTS, 1926-1927

58

I Amount outstanding. Date of Inception of Loans for Annual Charge. j Purposes of Repayment i r*.rrr. of the Public Debt Act, 1925. R j U , fir , Appropriate account and Authorizing Act. Due Date. ' kbma»k», Act. Account. Details. 5 8 Amount. When payable. Amount. Y ear ended c £ £ £ £ % £ Brought forward .. .. 225,169,897 225,169,897 225,169,897 174,718,606 .. .? 10,009,043 | SEPARATE ACCOUNTS —continued. Westport Harbour Account :— New Zealand Loans Act, 1908 — Westport Harbour Act, 1920 — Westport Harbour Board Act, 1884 100* .. 100 1 Mar., 1925 .. .. .. .. .. Unpresented. Westport Harbour Board Act, 1884, 500,000* .. 500,000 1 Jan., 1949 .. .. 4 20,000 1 Jan. and 1 July. * Loans raised by the late and Loan Acts, 1896, 1897, and Westport Harbour Board 1900 7,000j 1 Mar. „ 1 Sept. and taken over by the Westport Harbour Board Loan Act, 200,000* .. 200,000 15 Feb., 1945 .. .. 5 10,000 15 Feb. „ 15 Aug. Government in terms of 1908 the Westport Harbour Act, 1920. Total Westport Harbour Account 700,100 f Sinking fund 1 per cent. payable on £700,000 WestORDINARY REVENUE ACCOUNT.— port Harbour Loans. MISCELLANEOUS. New Zealand Loans Act, 1908- f ® } t° V " Jofn ] f tl I ' May and 1 Nov. New Zealand Consolidated Stock .. 7,395,091 .. J J 31 Mar., 1925 ' la'ml l i " i /" + 0 t) o too«\ I 1,316,910 1 April, 1945 f 3 39,507 1 April „ 1 Oct. (Allocated m terms of B. 2, 1926) 5,000J 1 Feb., 1963 J I 4 : 200 1 Feb. „ 1 Aug. } Repayable at the option of 1 the Government at par on Total Miscellaneous .. .. —: 7,395,091 1 j or after 1st Feb., 1943, on three months' notice. .— — In addition to this amount Total .. .. .. .. 233.265,088§ 233,265,088 233,265,088 182,113,697 10,315,747 there is a charge under the — — — —— — Repayment of the Public Analysis of Annual Charge. Debt Act, 1925, estimated T . . , , ., . „ at £998,839. Interest (chargeable to £ Consolidated Fund) 10,307,281 Interest (chargeable to Native Land Settlement Account) .. 1,466 Sinking Fund (chargeable to Consolidated Fund) .. .. 7,000 £10,315,747||