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securities domiciled in New Zealand, and, with additions by reason of further borrowings in London during the year, amounts at 31st March, 1944, to £39,776,956 17s. 9d. Particulars. Loans subject to the Repayment of the Public Debt Act, 1925 — Consolidated Fund: Ordinary Revenue Account— £ s. d. £ s. d. Discharged Soldiers' Settlement Account .. 2,870,000 0 0 Greymouth Harbour Board Account .. .. 148,000 0 0 Mining Advances Account .. .. .. 33,209 0 11 Miscellaneous .. 7,913,450 19 10 Naval Defence Act Account .. .. .. 530,753 16 0 Reserve Bank of New Zealand Account .. 1,125,000 0 0 State Advances Corporation Account .. .. 1,030,728 9 0 War Expenses Account (1914-18) .. .. 58,301,746 9 1 Exchange Account (Ordinary) .. .. 36,430,456 17 9 Public Works Account .. .. .. .. 168,405,020 910 Bank of New Zealand Shares Account .. .. 875,000 0 0 Housing Account .. .. .. .. 21,665,900 0 0 Iron and Steel Industry Account .. .. .. 14,000 0 0 Land for Settlements Account .. .. .. 7,650,270 2 3 Cheviot Estate Account .. .. .. .. 160,918 0 0 Main Highways Account .. .. .. .. 12,907,918 11 8 State Forests Account .. .. .. .. 3,607,438 7 5 War Expenses (1939) Account .. .. .. 185,137,432 6 6 Exchange Account (War Expenses) .. .. 3,346,500 0 0 National Development Loans Account not allocated to accounts .. .. .. ' .. .. 25,000 0 0 512,208,743 10 3 Less loans represented by funded debt to the Imperial Government 30,125,249 8 3 482,083,494 2 0 Loans not subject to the Repayment of the Public Debt Act, 1925 - Loans for which special sinking funds or for which provision for repayment is provided — £ s. d. State Coal-mines Account .. .. .. 842,643 3 0 Electric Supply Account .. .. .. 19,040,144 6 0 Nauru and Ocean Islands Account .. .. 192,044 7 3 Westport Harbour Account .. .. .. 199,500 0 0 Samoan Loan Suspense Account .. .. 9,245 0 0 State Advances Account .. .. .. 34,001,697 010 — 54,28(3,273 17 1 Funded debt to the Imperial Government .. .. .. 30,125,249 8 3 Total liability represented by debt as at 31st March, 1944 £566,494,017 7 4 Increase and Decrease of the Public Debt The following statement shows increases and decreases of the public debt during the year:— £ s. d. Total debt as at 31st March, 1943 .. .. .. .. .. •• 463,825,371 14 5 Increases during the yearConsolidated Fund —Ordinary Revenue : Exchange £ s. d. adjustment as at Ist April, 1943 .. .. 37,004,906 18 11 National Development Loans .. .. .. 4,000,000 0 0 War Expenses .. .. .. .. .. 72,754,812 810 War Expenses : Exchange adjustment as at Ist April, 1943 .. .. .. .. .. 2,563,667 11 0 116,323,386 18 9 580,148,758 13 2 Decreases during the yearWar Expenses debt redeemed .. .. ■ 10,299,337 14 11 Other debt redeemed .. .. . • 3,355,403 10 11 13,654,741 5 10 Total debt as at 31st March, 1944 .. .. .. .. .. £566,494,017 7 4

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