B—l [Pt. I]

ADVANCES BY THE RESERVE BANK TO THE GOVERNMENT BY WAY OF OVERDRAFT OUTSTANDING ON 31st MARCH, 1949

TRANSACTIONS IN CONNECTION WITH THE PUBLIC DEBT IN THE YEAR ENDED 31st MARCH, 1949

Details of Above External debt— London— Decreases— Repayments from— £ s. d. £ s. d. £ s. d. New issues in New Zealand .. 3,000,000 0 0 Loans Redemption Account .. 225,465 0 0 Exchange Adjustment .. 20,796,891 10 0 24,022,356 10 0 Australia— Decrease— Exchange adjustment .. .. .. 150,774 0 0 — 24,173,130 10 0 Internal debt— Increases—• New issues for— National development purposes ~ 28,284,425 0 0 Exchange adjustment .. .. 20,000,000 0 0 Repayments in London .. 3,000,000 0 0 „ Purchase of Bank of New Zealand shares .. .. .. 1,330 0 0 Renewal of loans falling due .. 964,850 0 0 Miscellaneous .. .. 255 0 0 52,250,860 0 0 DecreaseRepayments from Loans Redemption Account .. .. .. .. .. 11,967,527 6 6 Increase in internal debt.. .. .. 40,283,332 13 6 Net increase .. .. .. .. .. .. £16,110,202 3 6

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Authority for Advances. Particulars of Advances. Account. Amount. Marketing Amendment Act, 1939, section 5 Total ach Advances for the purchase of foodstuffs and other commodities nances as at 31st March, 1949 .. Marketing Account £ Si d. 1,593,351 18 6 £1,593,351; 18 6

— Outstanding 31st March, 1948. Outstanding 31st March, 1949. +Increase. —Decrease. External debt— London Australia.. Internal debt— Long-term debt .. Floating debt £ s. d. 103,984,457 10 0 779,000 0 0 439,111,972 2 9 55,000,000 0 0 £ s. d. 79,962,101 0 0 628,226 0 0 479,395,304 16 3 55,000,000 0 0 £ s. d. -24,022,356 10 0 -150,774 0 0 +40,283,332 13 6 598,875,429 12 9* 614,985,631 16 3* + 16,110,202 3 6 * Excludes debt due to the Imperial Government as per note on page 71.