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Among the numerous functions carried out by the Finance Branch during the past year were the ordering and checking of the production of considerable quantities of bronze and cupro-nickel coins and bank-notes (on behalf of the Reserve Bank of New Zealand) and of New Zealand postage-stamps. During the visit to the United Kingdom of the Right Honourable W. Nash in connection with the Double Taxation Agreement, advantage was taken of the opportunity for discussions on general finance matters and particularly on loan maturities. Another. note-worthy event was the completion of the New Zealand Wool Credits Agreement with Czechoslovakia, signed by the High Commissioner and the Czechoslovak Ambassador at New Zealand House on 22 January, 1948. Discussions on the final settlement and adjustment of war accounts and claims have continued on a detailed basis with the many United Kingdom Government Departments involved. The Stores Indents and Shipping Branch reports a considerable increase in the volume of cargo shipped to New Zealand on behalf of the Government during the year, this being attributable in the main to accelerated deliveries against the Railway Department's •orders for rolling-stock. The section has arranged the shipment of more than 60,000 tons of goods to New Zealand. Further easing of the shipping position has greatly facilitated this section's activities. The work of the Joint Service Liaison Staff has expanded considerably during the year, and the staff is proving an efficient link between the Chiefs of Staff in New Zealand and the United Kingdom Ministry of Defence. Though the scope of the work of New Zealand Military Headquarters in London, as headquarters of the 2nd N.Z.E.F. in'the United Kingdom, diminished to such an extent that the latter -element was disbanded as from 31 March, there has been an increase in the duties connected with the training of New Zealand Regular Force personnel. At present several officers and other ranks of the New Zealand Regular Force are attending courses at various military colleges. Recruitment of ex Royal Naval ratings for the Royal New Zealand Navy has been continued with good results by the Naval Affairs Office. The London headquarters of the Royal New Zealand Air Force has supervised the delivery to New Zealand of the majority of a total consignment of eighty Mosquito aircraft and has carried out an intensive recruiting campaign for technical personnel. The introduction of New Zealand's immigration scheme, which was announced in the United Kingdom early in July, 1947, was the culmination of much detailed negotiation between the Governments of the United Kingdom and New Zealand. Good progress has resulted from the work of the Immigration Officers sent from New Zealand to administer the project; from its inception until 31 March last,