THE NEW ZEALAND DEBT,

Manawatu Herald, Volume II, Issue 38, 6 January 1880, Page 2

THE NEW ZEALAND DEBT.

The total debt of New Zealand, as our readers know, now amounts to £28,000,000— the exact sum is £28,822.311, or, deducting the accumulated sinking funds, our nett public debt is £27,113,304, subject to an annual charge of about £ 1,400,000 for interest and £ 11 6,176 for sinking fund, making togetltfr an annual burden of £1,516,176. On the 30th June, 1871, our debt amounted to £8,769,041, of which £2,412,366 had been incurred by ihe Oolonial Government, principally for defence, and £3.356,657 by the various provincial governments. Since then our debt hag rapidly in* creased till, as we have Beta, it is now over £98,000,000 sterling. On the 30 ;h September last, out of the above sum, the expenditure and liabilities on pccount of public works were as follow : — Kail way b, £9,191,960 ; roads, £817,541 ; payment made to £oad Boards, £225,000 coal exploration and mine development, £10,835 ; water supply on gold fields, £433,047 ; aiding works on Thames goldtield, £50,000; tellN* graphs, £415,162 ; public buildings £747,099; lighthouses, £84,247; miscellaneous pnblic woks, £322,520 departmental, £145,563. The above figures represent the expenditure on public works only, and do not include . tbo railways constructed by the provincial governments of Canterbury and Otago, valued at £731,759, and £372,522 respectively. In addition the expenditure and liabilities on September 30th were, on immigration, £1,890,025 ; on land purchases, £1,931,256; on contingent defence, £140,000; charges anci\ expenses^ raising loan, £554,269 ; inh:^flfeH sinking fund, £218,500. TheT^^H expenditure and liabilities on rdfl^Ml gration and publio works loan on September 30th were therefore £17,203,030, We may add that the cost of railways open for traffic at the end of the last financial year was £8,690,417. The traffic receipts were £758,096, and the expenditure £545,478, leaving, as we pointed out in ye«terday's article; a nett return for the year uf £212,617 loss depre> ciation.— Press.