A.—4.

Loan Account. uow^tands t at t £lo7 1 340 nt °* redeemed out of sinkin 8 fun d, and the total public debt Referring to M. Rappard's regarding permanent charges on the public debt the following explanation is submitted 1 ' The payment of £11,331 in 1936-37 was made up of— £ Payment to sinking fund .. .. ~ 4 233 ( 2 )Direct payment in redemption of debt " i'soo lnterest " :: :: 5)598 £11,331 The payment of £15,060 in 1937-38 was made up of— ~ ~ Payment to sinking fund . , .. . . _ _ 4 249 ( 2 )Direct payment in redemption of debt .. .. 5 500 Interest .. .. .. .. " g'3l2 £15,060 The repayment of principal in 1936-37 was made up of— ( 3 )Payment from sinking fund— 1935-36 ...... a am 1936-37 ;; ;; Direct redemption of debt .. .. .. " £9,770 The repayment of principal in 1937-38 was made up of— £ Payment from sinking fund, 1937-38.. .. .. 4 245 ' Direct redemption of debt .. .. .. " s'qqq £9,745 Customs and Treasury Revenue. n n «Q°n S f " ol i eCtionS ° f reVenUe various Treasury and Customs headings amounted to £.111,890 .or the year, as compared with £126,318 m the previous vear, a decrease of £14 428 I lie receipts under the various headings for the two years are as follows :—

( y See minutes of thirty-fifth session of Permanent Mandates Commission, page 161 J fff P ara g ra Pts headed " Loan Account" on pages 8 and 9of the report for the year ended 31st March 1938 ( ) See footnote to table on page 9 of report for the year ended 31st March, 1937.

11

1937-38. 1938-39. J Increase. Decrease. £ £ Import duties (including port and 59,156 40 835 1 a service tax) ' io.ozi Export duties— £ £ Copra 18,721 16,515 Cocoa .. .. .. 2,369 2,918 Rubber .. . . . . 503 400 .Bananas .. .. .. 22,727 27,342 m,- • , 44 > 320 —' 47,175 2,855 Shipping fees .. 3>719 3)606 ; ' Wharfage dues and royalties .. 3,469 3 101 s«a Taxesandlicensefe.es .. 8,713 9 '704 '99I Miscellaneous .. .. 6)941 7j469 528 126,318 111,890 4,374 18,802 4,374 Net decrease £14,428 Less refunds (see below) .. 19,831 26,854 Net collections .. .. £106,487 £85,036 Net decrease after making refunds of export duty .. .. £*>1^451