The Public Debt

Feilding Star, Volume XV, Issue 80, 2 October 1893, Page 3

The Public Debt

. » » ftfany bare been the efforts made by Tarioas members to set a clear statement of the public finances of the colony Bir John Hall, however, made it distinct and clear in the early hours of yesterday morning. He showed thnt since 1890 the public debt had increased by over £800.000, while of the expenditure J81.300,000 ha« not come out of refenue. The people of the colony, said Sir John, knew that the so-called non-borrowing was • sham. It was the people outside the colony who were misled. The conversion of £500,000 into L 610.000 debentures, he instanced, has been done simply to collar the money. Mr George Fisher, in order to make the matter understand - able at a glance, has compiled the following tables, which, he sajs, shows the colon; 's total indebtness, and which are borne out by Sir John's figures :— Public debt, 1891, £37,343.308 ; 1892, £37,675,. 206; 1893, £38. 1*1.070. Interest charge parable to 31st March : 1891, £1,858,252; 1892, £1,892,920; 1893. £1.835.770; 189 i, £1,901,698- Mr G. Hutchison has given notice to move for a return setting out the correspondence between the Government and the Agent-General on the subject of the recent convention of £500,000 of the Imperial guarantee loan of 18G3, and any actuarial calculation as to the result of such conversion.— H.B. Herald correspondent