Page 3 Advertisements Column 1

Oamaru Mail, Volume I, Issue 149, 12 October 1876, Page 3

The fat:! Mall of the m Jwty says :—" From a return issued during this week, in compliance with a motion made by iVlc. Chitders* it appears that: the National Debt has been cuttncett in the period between the gtoue of the year 18GT-S and the 31st of March last, tcoiu £838,5t5>,3:3& to being a diminution' of £f»4 t The total amount paid off was very math greater, for, in the same nineteen years, new debt was created tt> the amount «f ,£2By6u<>,4tl.. Of this new debt i!S,uil7, tr»J> b unfunded, and as much as £sy<t6&,iHK> was watted laatf year—namely, £3,3W>,tHH> on account of the pttrehase of the Suez Canal, and for advances to local authorities to enable them, to execute useful pubic works. The whole of the targe unfunded debt created last year was thus incurred for reproductive purposes, and, in fact, is represented by valuable property or beneficial improvements The funded debt created in the ninetuen years amounts to £20,1i!>,302. The greater part of this sum, again, is represented by property, however dearly it mw have been purchased, exactly £10,202.032 having been raiaed to pay for telegraphs. The remainder appears to have been incurred on account el the fortifications, and for the localisation of the army.