B.—l [PT. lII].

PUBLIC ACCOUNTS, 1 9 42-1 943.

TABLE III.—TRANSACTIONS IN CONNECTION WITH THE PUBLIC DEBT IN THE YEAR ENDED 31st MARCH, 1943.

External debt — Details of Above. 1. London — Increases — £ g _ a. New issues for War Expenses Account .. .. .. .. .. .. 15,436,634 15' 0' Decreases— Redemptions from— £ s _ a. Public Debt Repayment Account .. .. .. .. .. 2,538,300 0 0 Loans Redemption Account .. .. .. ~ .. .. 200 0 0 Renewals and conversions to internal long-term debt .. .. .. 8,379,400 0 0 10,917,900 0 0Increase .. .. .. .. .. .. .. £4,518,734 15 0 2. Australia— No change Internal debt— 3. Long-term debt— Increases—New issues for capital works—• £ 3 , d. National Development; Loans Account .. .. .. .. .. 2,300,000 0 0 New issues: War Expenses Account .. .. .. .. .. 40,103,870 18 5 New issue to cover costs, charges, and expenses of conversions of internal long-term debt .. .. .. .. .. .. 200 0 0 New issues to cover exchange on renewal and conversions of external debt (London) .. .. ~ .. .. .. 90 600 0 0 New issues for redemptions .. .. .. .. .. .. 5 000 0 0 Issues in renewal and conversion of floating debt .. .. .. .. 6,484,500 0 0 Issues in renewal and conversion of external debt (London) .. .. .. 8,379,400 0 0 57,363,570 18 5> Decreases —■ Redemption from— Public Debt Repayment Account .. .. .. .. .. 70 745 0 0 Sinking Funds— £ s . d. Electric Supply .. .. .. .. .. 14,632 13 6 State Coal-mines .. .. .. .. .. 9,164 10 4 Samoan Loans .. .. .. .. .. 5,890 0 0 Nauru and Ocean Islands .. .. .. .. 21,795 12 9 51,482 16 7 Loans Redemption Account .. .. .. .. ~ 325,439 0 8 — 447,666 17 3Increase .. .. .. .. .. .. .. £56,915,904 1 2' 4. Floating debt— Increases— New issues for capital works — £ s d. National Development Loans Account .. .. .. .. .. 750 000 0 0 New issues for War Expenses Account .. . . .. .. . . 22,500,000 0 0 New issues to cover costs, charges, expenses, and exchange on renewals and conversions of external debt (London) .. .. .. 2,278,867 10 0 25,528,867 10 ODecreases— Redemptions from— £ s , d. Electric Supply Sinking Fund .. .. .. .. 348,500 0 0 Land for Settlements Account .. .. .. ~ 1,700,000 0 0 Loans Redemption Account .. .. .. .. 2,867 10 0 2,051,367 10 0 Renewals and conversions to long-term internal debt .. .. 6,484,500 0 0 8,535,867 10 0Increase .. .. .. .. .. .. .. £16,993,000 0 0 Notes. — (1) For details of redemptions from Public Debt Repayment Account, see parliamentary paper 8.-2 (2) Money for new issues was borrowed at the following rates: 1J per cent,., £23,250,000; 2i per cent., £16,153,641 5s- 3 per cent £39,315,192 3s. lid.; interest-free, £31,182 4s. 6d.; advance subscriptions, £2,345,490: total, £81,095,505 13s. sd. In addition money was borrowed to cover costs, charges, expenses, and exchange on renewal and conversion of internal and external debt (London) at the following rates: 1% per cent.,' £2,278,867 10s.; 3 per cent., £90,600; 3i per cent., £200, making a total gross increase of £83,465,173 3s. sd. (3) Former shareholders of Reserve Bank and State Advances Corporation who now hold 4-per-cent stock have tlio option of requiring redemption of such stock on giving fourteen days' notice. £5,000 was borrowed during the year at 3 per cent., and from this sum and the balance of £5,038 brought forward from the previous year, redemptions totalling £5 332 5s were effected, leaving a balance of £4,705 15s. unused at the 3!st March, 1943. (4) The following amounts were transferred from National Development Loans Account during 1942-43: —Post Office Account, £132,000; Electric Supply Account £1 186 000- Housing Account, £1,100,000; Iron and Steel Industry Account, £2,000; Main Highways Account, £270,000; State Coal Mines' Account £225,000; and State Forests Account, £110,000, leaving a balance in the account at 31st March, 1943, of £25,000

2-B. 1 [PT. Ill]

9

Outstanding. -f- Increase. 31st March, 1942 31st March, 1943 ~ Decease. (Nominal Amount). (Nominal Amount). External debt— £ s . a. £ s . d. £ s. d. London .. .. .. .. .. .. .. 153,755,563 4 9 158,274,297 19 9 +4,518,734 15 0 Australia .. .. .. .. .. .. .. 862,300 0 0 862,300 0 0 Internal debt— Long-term debt .. .. .. .. .. .. 191,818,869 13 6 248,734,773 14 8 +56,915,904 1 2 Floating debt .. .. .. .. .. .. 38,961,000 0 0 55,954,000 0 0 +16,993,000 0 0 385,397,732 18 3 463,825,371 14 5 +78,427,638 16 2