B.—l [Pt. Ill]

THE PUBLIC DEBT OF NEW ZEALAND. STATEMENT OF SECURITIES PAYABLE FROM THE CONSOLIDATED FUND AND OUTSTANDING ON 31st MARCH, 1937—continued.

PUBLIC ACCOUNTS, 19 3 6-1 93 7.

10

Annual Charge. Domicile of Principal. Amount Due Date _ [ | Remarks. outstanding. o v cd Interest. ! When payable. New Zealand. London. Australia. Ua I £ s. d. % £ £ s. d. £ s. d. £ Brought forward .. 287,670,199 11 10 .. .. 11,085,935 .. 130,041,283 4 8 156,737,016 7 2 891,900 Amortization Charges. £ T,704, 700* Repayment of the .. •. •• * Estimated. Public Debt Act, 1925 458,700f Funded Debt .. .. •• .. t Represents principal repayment also suspended by agreement with Imperial Government. 9,500t State Coal-mines .. .. + Payable from the State Coal-mines Sinking Fund Account. Estimated. 10,859§ Westport Harbour .. .. .. §£3,859 sinking fund, 4J per cent. Sinking Fund payable in respect of sinking funds 2,183,759 used for redemption; and £7,000 — — — sinking fund, 1 per cent, payable Total securities charged on 287,670,199 11 10 .. .. 13,269,694 .. 130,041,283 4 8 156,737,016 7 2 891,900 on £700,000 Westport Harbour the Public Revenues — — ~ Loans. Finance Act, 1931 (No. 4). SecD^d^f'hypc^teeation 'over" Dis- 2,700,000 0 0 || 3 81,000 30 Sept. and 31 Mar. 2,700,000 0 0 .. .. || Repayable £200,000 per annum or charged Soldiers Settlement ninet y da y s after demand. Securities •• 200,000 1[ Total securities outstanding 290,370,199 11 10 .. .. 13,550,694 .. 132,741,283 4 8 156,737,016 7 2 891,900 31st March, 1937 ■ ; —. — 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, £9,181 12s. Id.; Electric Supply Account, £13,429 15s. Id.; Westport Harbour Account, £320,635 lis. 6d.; Greymouth Harbour Board, £109,104 4s. 2d.; Samoan Loan Suspense Account, 14s. Id.; State Advances Account, £2,263,608 3s'. 5d.: total, £2,715,960 3s. 4d., particulars of which appear on pages 14 and 15. _ 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 11. It is°estimated that this portion of the debt would under the original agreement be extinguished during the financial year ending on the 31st March, 1958. Payments have been suspended bv arrangement with the Imperial Government. 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 total of loans coming within the provisions of the Repayment of the Public Debt Act, 1925, is £215 232 294 4s. 5d. 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 in Discharged Soldiers Settlement Account, £6,000,000: total, £17,225.644 10s. 6d. 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 3| per cent, of the debt redeemed in accordance with the Act.