A.—4.

8

The following comparative table shows the total receipts each year, together with the amounts expended on certain public services :—

Loan Account. Loans to the amount of £4,245 were redeemed out of sinking fund, and a further £5,500 was redeemed by direct payment. The total public debt is now £112,195. A reply to M. Rappard's is given below : — The total indebtedness of the Territory was £121,940 only at the 31st March, 1937, and not £330,000 as assumed by the Chairman of the Commission. The amount of £210,433 lis. 7d. shown as ' Capital Account " would be more correctly described as the surplus of assets over liabilities. The indebtedness at the 31st March, 1938, was £112,195. The apparent increase in permanent charges during the year ended 31st March, 1937, was due to an amount of £1,500 being applied to direct redemption of debt in addition to the ordinary sinkingfund and interest payments.

(!) See minutes of the thirty-third session, of the Permanent Mandates Commission, page 55.

Revenue from „ j . External Sources. Revenue Amounts spent on Financial Year. , 'J"™ , Loans and i on ,. „ n erna Agri- Public Public Advances. r "* We S ° UrCe3 - Eduoatl ° n cSture. Health. Works. £ £ £ £ £ £ £ 1920-21 .. .. .. 44,336 .. 149,027 3,176 5,405 15,840 13,796 1921-22 .. .. .. 49,229 16,000 119,569 5,237 4,444 22,690 15,418 1922-23 .. .. .. 20,777 16,000 115,250 6,846 3,787 25,715 12,549 1923-24 .. .. .. 5,658 24,000 109,917 6,556 5,748 23,995 21,191 1924-25 .. .. .. .. 19,140 111,774 7,609 3,030 24,425 24,737 1925-26 .. .. .. 5,000 21,400 128,638 9,131 3,187 25.761 26,555 1926-27 .. .. .. 31,000 20,000 113,812 9,688 3,760 25,911 20,016 1927-28 .. .. .. 16,500 20,000 106,038 10,222 4,990 25,597 16,842 1928-29 .. .. .. 25,700 *47,374 121,904 7,738 4,285 24,367 13,606 1929-30 .. .. .. .. 39,448 131,416 6,955 .. 18,016 17,005 1930-31 .. .. .. .. 21,000 130,385 7,439 .. 18,224 15,726 1931-32 .. .. .. 6,000 .. 109,040 6,794 .. 17,824 15,797 1932-33 .. .. .. .. .. 105,920 5,459 .. 21,819 11,908 1933-34 .. .. .. .. .. 90,613 5,097 .. 17,150 10,632 1934-35 .. .. .. .. .. 78,808 4,910 .. 13,937 9,111 1935-36 .. .. .. .. .. 111,867 4,877 .. 17,797 20,222 1936-37 .. .. .. .. .. 117,909 5,619 j .. 19,636 28,030 1937-38 .. .. .. .. .. 139,450 7,539 I .. 22,579 31,436 I j I £ £ Total .. .. .. 204,200 Less amount of loan subsequently treated as a gift by New Zealand Government (not in respect of any specific year) .. 25,000 Less repayment of temporary advance .. 6,000 Less repayment of principal — 1928-29 .. .. 8,000 1932-33 .. .. 26,155 1933-34 .. .. 3,000 1934-35 .. .. 4,335 1936-37 .. .. 9,770 1937-38 .. .. 9,745 92,005 Public debt .. £112,195 * Correcting error in previous statements from 1932 onwards.