B—l |PT.. 11

TRANSACTIONS IN CONNECTION WITH THE PUBLIC DEBT IN THE YEAR ENDED 31st MARCH, 1948

* Excludes debt due to the Imperial Government as per note on page 68. Details or above External debt— London— Decreases— Repayments from — £ s. d. £ 8. d. £ s. d. New issues in New Zealand .. 14,000,000 0 0 Loans Redemption Account .. 177,011 0 6 14,177,011 0 6 Australia— Decreases — Repayments from— Loans Redemption Account .. .. 82,300 0 0 Decrease .. .. .. 14,259,311 0 6 Internal debt— Increases — New issues for— Purchase of Bank of New Zealand shares .. .. .. 1,770 0 0 National development purposes — Stock .. .. .. 19,446,940 0 0 Treasury bills .. .. 6,500,000 0 0 Repayments in London .. .. 14,000,000 0 0 Repayments in New Zealand and Australia .. .. .. 12,021,828 0 0 51,970,538 0 0 Decreases — Repayments from— Loans Redemption Account— Stock and debentures .. .. 17,638,744 19 8 Treasury bills .. .. 6,500,000 0 0 National Development Loans Account .. .. .. 2,121,940 0 0 War Expenses Account .. .. 3,300,000 0 0 Public Debt Redemption Fund .. 11,287,987 16 2 40,848,672 15 10 Increase .. .. .. .. 11,121,865 4 2 Net decrease .. .. .. .. .. .. £3,137,445 16 4

70

— Outstanding 31st March, 1947 (New Zealand Currency). Outstanding 31st March, 1948 (New Zealand Currency). | -1- Increase. — Decrease. 1 External debt— London Australia.. .. Internal debt— Long-term debt Floating debt £ s. d. 118,161,468 10 6 861,300 0 0 427,990,106 18 7 55,000,000 0 0 £ s. d. 103,984,457 10 0 779,000 0 0 439,111,972 2 9 55,000,000 0 0 £ s. d. - 14,177,011 0 6 -82,300 0 0 + 11,121,865 4 2 602,012,875 9 1* 598,875,429 12 9* -3,137,445 16 4