F.—l.

1938. NEW ZEALAND.

POST AND TELEGRAPH DEPARTMENT (REPORT OF THE) FOR THE YEAR 1937-38.

Presented to both Houses of the General Assembly by Command of His Excellency.

To His Excellency the Eight Honourable Viscount Gal way, P. 0., G.C.M.G., D.5.0., 0.8. E. May it please Your Excellency,— I have the honour to submit to Your Excellency, with the following comment, the Report of the Post and Telegraph Department for the year ended on the 31st March, 1938 : — RECEIPTS AND PAYMENTS. The revenue collected during the year exceeded that for the previous year by £416,146. The sum received was £4,302,244, compared with £3,886,098 for 1936-37. Increases in revenue were again recorded in respect of all phases of the Department's activities. Payments for the year in respect of working-expenses (including interest on capital liability amounting to £590,000) totalled £4,185,762. The excess of receipts over payments was £116,482. During the year there were paid to the Consolidated Fund the sum of £255,283 on account of Post Office profits and the sum of £65,000 in respect of the profits of the Post Office Savings-bank. POST OFFICE SAYINGS-BANK. Post Office Savings-bank business during the last financial year reached new high levels, indicating that the general prosperity of the peo le at the present time is unprecedented in the history of the Dominion. The deposits were £33,041,082, compared with £30,676,969 during the previous year. Interest credited to depositors amounted to £1,669,384. The withdrawals totalled £29,629,074, compared with £27,042,003 in the preceding year. The amount at credit of depositors at the 31st March reached the record total of £63,146,930, exceeding by £5,081,392 last year's total of £58,065,538, which was the previous record. The number of accounts open at the 31st March was 920,805, which is 39,948 in excess of the previous highest total recorded at the end of 1936-37, and the average amount at credit of depositors was £68 lis. 6d. School Savings-bank accounts are not included in the above figures. On the 31st March the School Savings-bank scheme was in operation in 559 schools, the number of accounts being 80,133, with a total amount of £49,060 at credit of depositors. During the year 171 additional schools joined the scheme. The deposits amounted to £33,970 and the withdrawals to £13,827. Interest credited to depositors totalled £660. STAFF. During the second complete year in which I have held the position of PostmasterGeneral and Minister of Telegraphs I have noted with great pleasure the commendatory references to the efficiency of the Department made by visitors to New Zealand and by our own people. The Post and Telegraph Department serves in some way or

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