THE PUBLIC DEBT OF THE COLONY (PARTIAL RETURN SHOWING PARTICULARS OF).

Appendix to the Journals of the House of Representatives, 1887 Session II, B-06

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Sess. 11.—1887. NEW ZEALAND.

THE PUBLIC DEBT OF THE COLONY (PARTIAL RETURN SHOWING PARTICULARS OF).

Return to an Order of the House of Representatives, dated 23rd November, 1887. Ordered, "That there be laid upon tho table a return showing (1) particulars of the Public Debt of the colony on the 30th Juno 1867 ■ (2) the several increases and decreases oi such debt between that date and the 31st March, 1887,'whether'arising from new loans or the conversion of old loans, or from the paying off of any ™J™« the rate of interest and sinking fund payable in each case, and the annual charge ,n respect hereof, (3 particulars of the Public Debt at the 31st March, 1887 ; and (4) a statement of the securities m which the sinking funds ot the several loans arc invested." —(Sir J. Hall.)

Note -The within return embraces only the period from the 30th June, 1878, to the 31st March, 1887 ; the remainder of the return for the earlier period is in course of preparation.

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RETURN showing (1) Particulars of the Public Debt of the Colony on the 30th June, 1878; (2) the several Increases Conversion of Old Loans, or from the Paying-off of any Loan, and showing the Rate of Interest and Sinking Fund 1887; and (4) a Statement of the Securities in which the Sinking Funds of the several Loans are invested.

("■) The accumulations of the Sinking Fund of this loan now enable the Trustees not only to dispense with further contributions from the are used for tho purpose of obtaining temporary advances. ( d ) Conversion incomplete at 31st March, 1887.

Decreai tes. Incr< ;asos. An: Chi mal rge. Loans coir r erted. Public Debt at 30th June, 1878. When due. Authority. From New Loans. From Conversion of Loans. o Date. Into 4-per-cent. Inscribed Stock. New Zealand Loan Act, 1856 (") .. £ 300,000 25,000 25,000 50,000 50,000 50,000 £ £ 1 Jan., 1888 1 Oct., 1888 • 1 Jan., 1889 1 July, 1889 1 Oct., 1889 1 July, 1894 p. c. p. c. New Zealand Loan Act, 1860 (originally £150,000) New Zealand Loan Act, 1863 (originally £3,000,000) 488,000 500,000 201,500 236,000 93,900 500,001 93,10( 1 July, 1891 15 July, 1914 1 Nov., 3915 15 Mar., 1891 15 June, 1891 15 Dec, 1891 4 6 5 4 6 6 6 2 2 1 1 2 2 2 1 May, 1880 19,000 65,600 . 1 May, 1886 46,700 47,600 20,100 1,519,400 Consolidated Loan Act, 1867 (originally £7,283,100) 6,531,400 36 yrs. from issue. 5 1 38,200 Immigration and Public Works Loan Act, 1870 Auckland Loan Act, 1803 (originally £500,000) Wellington Loan Act, 1866 (originally £50,000) Lyttelton and Christchurch Railway Loan Ordinance, 1860 (originally £250,000) Canterbury Loan Ordinance, 1862 (originally £233,400) Otago Loan Ordinance, 1862 (originally £500,000) .. Ordinance of Legislative Council Consolidated Loan Act, 1867 —Colonial Issue 200,000 31,000 13,500 (<=) 800,000 1 June, 1907 1 June, 1896 1 July, 1886 4 6 8 2 2 2 77,700 22,800 116,700 311 30 yrs. from issue 50 yrs. from issue 1 July, 1898 on presentation 1 Jan., 1893 15 April, 1913 6 6 6 2 1 1 64',000 13,000 5 4 Immigration and Public Works Loan Act, 1870 372,100 25,700 77,000 15 April, 1913 15 April, 1913 4 397,800: 2,200 Defence and Other Purposes Loan Act, 1870 50,000 75,000 20,000 5,000 31 Dec, 1878 15 April, 1913 1 July, 1880 ! 25 June, 1881 4 4 5-per-cent. 5-30 Loans— Defence and Other Purposes Loan Act, 1870 .. Immigration and Public Works Loan Act, 1873 General Purposes Loan Act, 1873 150,000 250,000 500,000 500,000 15 Jan., 1884 504,400 1,250,000 15 July', 1906 5 15 Jan., 1885 745,600 4J-per-cenV. 5-30 Loans — Immigration and Public Works Loan Act, 1870 Immigration and Public Works Loan Act, 1873 Immigration and Public Works Loan Act, 1874 500,000 1,500,000 4,000,000 6,000,000 1 Feb., 1904 1 Feb., 1884 1 Feb., 1886 1 Aug., 1880 3,053,900 1,891,200 1,054,900 1 Pcb', 1905 ij 5-per-cent. 10-40 Loans — New Zealand Loan Act, 1876 New Zealand Loan Act, 1877 1,000,000 2,500,000 3,500,000 ••I 1 May, 1886 1,292,700 General Purposes Loan Act, 1873 12,300 49,500 20,900 18,500 6,200 87,900 54,700 1 Mar., 1918 15 May, 1914 15 Dec, 1888 15 Oct., 1883 15 Oct., 1913 15 Oct., 1885 28 Nov., 1884 28 Nov., 1914 5 4 5 4 4 4J 5 5 Westland Loan Act, 1873 North Otago District Public Works Loan Act, 1872 Wellington Debts Act, 1876 .. 250,000 50,000 43,900 15 April, 1894 1 Nov., 1902 30 June, 1878 30 Juno, 1879 30 June, 1882 5 5 5 5 5 16,500 25,000 16,500 Nelson Waterworks Loan Act, 1864 Nelson Loan Act, 1874 58,000 6,200 1 Jan., 1881 23 Mar., 1896 12 April, 1885 8 7 7 2 15,000 3,000 Treasury Bills 18,000 832,000 various 1 Jan., 1886 ••1 •■J "■ i 1,832,00? 1,000,000 5 31 Dec, 1883 New Zealand Loan Act, 1879 5,000,000 1 Nov., 1889 5 1 Nov., 1879 1 May, 1886 4,476,000 136,000 Colonial Inscribed Stock Act, 1882 District Railways Purchasing Acts, 1885-86 Public Revenues Act, 1886 100,000 50,000 250,000 357,487 1 Nov., 1888 1 April, 1905 10 Oct., 1891 5 4 5 1 Nov., 1886 242,800 Now Zealand Consolidated Stock Act, 1877— New Loans— New Zealand Loan Act, 1882 New Zealand Loan Act, 1884 New Zealand Loan Act, 1886 150,000 3,000,000 1,500,000 1,325,000 I 1 Nov., 1929 Conversions Consolidated Stock Act, 1884— English Issue— Conversions Colonial Issue— Conversions For increases Sinking Fund 5,825,000 16,670,255 1 4,257,700 4,257,700 181,500 407,500 407,500] 181,500 Totals 15,406,700 21,739,411 13,792,187 21,109,455

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and Decreases of such Debt between that Date and the 31st March, 1887, whether arising from New Loans or the payable in each case, and the Annual Charge in respect thereof; (3) Particulars of the Public Debt at the 31st March,

Treasury, but to pay the interest of the loan. (") See table on next page. («) This amount has not boon actually raised ; the debentures

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Decreases. Amount of Debt at 31st AJ larch, 1887. Loans coir r erted. Loans laid off. Into Short-dated Debentures, pending Inscription. Amnniih Sinking Funds Amount. accrued. Net Debt. Authority. Terms. Date. Terms. Date. Amount. £ 109 112J 15 Jan., 1886 43^600 ( V ) 500,000 74,100 378,800 500,000 154,800 188,400 73,800 511,852 70,563 73,252 182,851 Cr. 11,852 3,537 305,548 317,149 New Zealand Loan Act, 1856. New Zealand Loan Act, 1860. • New Zealand Loan Act, 1863. 109 109 109 1 315,586 101,414 106 I 15 April, 1885 15 April, 1886 3,651,700 562,400 }f) 1879-87 885,400 1,393,700 1,475 1,392,225 Consolidated Loan Act, 1867. 1,000,000 31,600 143,180 17,157 43 856,820 14,443 Cr. 43 Immigration and Public Works Loan Act, 1870. Auckland Loan Act, 1863. Wellington Loan Act, 1866. 1 July, 1886 13,500 par 77,700 22,800 116,700 311 54,616 4,549 52,075 23,084 18,251 64,625 311 Lyttelton and Ch'ch Eailway Loan Ordinance, 1860. Canterbury Loan Ordinance, 1862. Otago Loan Ordinance, 1862. Ordinance of Legislative Council. •77,000 77,000 Consolidated Loan Act, 1867. 31 Dec, 1865 50,000 par 400,000 400,000 Immigration and Public Works Loan Act, 1870. ) 100,000 100,000 Defence and Other Purposes Loan Act, 1870. losj 5-per-cent. 5-30 Loans. 102J 103 101 4J-per-cent. 5-30 Loans. 102 2,207,300 2,207,300 5-per-cent. 10-40 Loans. 12,300 49,500 1 135,000 28 Nov., 1884 20,900 par 18,500 General Purposes Loan Act, 1873. 15 Oct., 1885 28 Nov., 1884 6,200 87,900 par par ) 54,700 50,000 1878-83 43,900 50,000 Westland Loan Act, 1873. North Otago District Public Works Loan Act, 1872. 1878-79 1880-81 58,000 6,200 Wellington Debts Act, 1876. Nelson Waterworks Loan Act, 1864. Nelson Loan Act, 1874. 3,000 15,000 15,000 12 April, 1885 par Treasury Bills. ■par 120) 103 f 388,000 388,000 New Zealand Loan Act, 1879. 250,000 114,687 250,000 114,687 Colonial Inscribed Stock Act, 1882. District Railways Purchasing Acts, 1885-86. 150,000 150,000 Public Eevenues Act, 1886. 22,495,255 22,495,255 Now Zealand Consolidated Stock Act, 1877. 4,846,700 4,846,700 Consolidated Stock Act, 1884. 4,439,200 993,500 35,741,6531,427,199 34,314,454

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TABLE showing Particulars of the Loans converted to 31st March, 1887, under the Operation of "The New Zealand Consolidated Stock Act, 1877," and "The Consolidated Stock Act, 1884."

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Converted into 4-per-cent. Inscribed Stock, maturing 1st Nov., 1929. I Converted into Short-dated Debentures under " The Consolidated Stock Act, 1884." Loans converted. Interest. Due Date. Prom what Date. Terms. Amount. j From what Date. Amount. Interest. Terms. Amount converted. Loan. £ I £ 19,000 I p. c. 6 , 1 July, 1891 j 5 15 July, 1914 £ 109 1124 £ 20,710 73,800 £ p. c. ("6 years' currency, 15 Jan., 1892; then to be con- ] verted into 4-per-cent. ( Inscribed Stock, at 110. New Zealand Loan Act, 1860 New Zealand Loan Act, 1863 Consolidated Loan Act, 186v 65,600 43,600 46,700 47,600 20,100 3,651,700 562,400 ! 5 . 6 15 Mar., 1891 6 \ 15 June, 1891 j 6 15 Dec, 1891 1 May, 1886 I 1 May- 1S86 109 109 109 | 15 Jan., 1886 50,903 51,884 21,909 15 April, 1885 43,600 5 7 years, to 15 April, 1892 ; then Stock at 107. 6 years, to 15 April, 1892 ; "then Stock at 107. . .. ... 5 223,600 5 j 36 years 5 36 years .. ■ 5 36 years 7 i 12 April, 1885 8 | 1 July, 1886 5J : 31 Dec, 1885 5 ! 15 July. 1906 5 3,651,700 1 15 April, 1886 40,492 ! 562,400 5 Nelson Loan Act, 1874 Wellington Loan Act, 1866 38,200 4,252,300 3,000 13,500 1 May, 1886 106 I 3,000 13,500 f 25,000 | 25,000 5 5 1 Par. Par. •• •• 50,000 12 April, 1885 ! 1 July, 1886 31 Dec, 1885 : 522,054 764,240 ! Par. Defence and Other Purposes Loan Act, 1870 5-per-cent. 5-30 Loan 504,400 745,600 3,053,900 1,891,200 1,054,900 15 Jan., 1884 15 Jan., 1885 103i 102* 4J-per-cent. 5-30 Loan 1,250,000 4i | 1 Feb., 1904, 4| and 4J J 1 Feb., 1905 5 1 Mar., 1918 4 j 15 Oct., 1883 4J ' 15 Oct., 1885 5 : 28 Nov., 1884 5 j 1 Jan., 1886 5 j 1 Nov., 1889 5 1 Feb., 1884 1 Feb., 1886 1 Aug., 1886 103 101 * 3,145,517 j 1,910,112 1,060,000 ■■ 5-per-cent. 10-40 Loan General Purposes Loan Act, 1873 j ■ 6,000,000 1,292,700 1 May., 1886 102 i 1,318,554 ! ! 28 Nov., 1884 i 15 Oct., 1885 I 28 Nov., 1884 20,900 6,200 87,900 20,900 6,200 87,900 Par. Treasury Bills Acts, 1879 and 1880 New Zealand Loan Act, 1879 i 115,000 1,832,000 31 Dec, 1883 1 Nov., 1879 1 Mav, 1886 100 120 103 : 1,832,000 5,371,200 140,080 4,476,000 136,000 4,612,000 District Bailways Purchasing Acts, 1885 and 1886 Expenses of Conversion (on account) 242,800 4 1 April, 1905 1 Nov., 1886 100 242,800 104,000 j 16,670,255 ■■ •■ 4,439,200 Totals .. .. ■■ 19,905,900 * Conversion incomplete at 31st March, 1887.

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Statement of the Securities in which the Sinking Funds of the several Loans were invested on 31st March, 1887.

Investments m, — * "• New Zealand 5-per-cent. Debentures .. .. .. .. •• •• •• 54,050 0 0 4.-per-cent. Debentures .. .. .. .. •• •• •- 32,951 0 0 „ 4-per-cent. Debentures .. ..- .. .. •• ■• •• 1,000 0 0 4-per-cent Inscribed Stock 851,207 17 11 5-per-cent. Stock (Colonial issue) .. .. .. .. .. ■• 13,500 0 0 -J-per-eent. Stock (Colonial issue) .. .. .. .. •• 25,000 0 0 City of Dunedin Mortgage 7-per-cent. Debentures .. .. .. .. .. 3,300 0 0 Borough of Patea 6-per-cent. Debentures .. .. .. •• •• •• 5,00000 Borough of Hawera 6-per-cent. Debentures .. .. .. .. .. •• 6,124 0 0 Cambridge Town District 6-per-cent. Debentures .. .. .. .. .. 330 0 0 Waitara Harbour Board 6-per-cent. Debentures .. .. .. .. .. .. 15,120 0 0 Wellington and Manawatu Railway Company 5-per-cent. Debentures .. .. .. 17,410 0 0 Deficiency Bills 5-per-cent. Debentures .. .. .. •• •• •• 25,110 0 0 Canada 4-per-cent. Debentures .. .. .. .. •• •• •• 21,000 0 0 New South Wales 4-per-cent. Debentures .. .. .. .. •■ •• 14,100 0 0 Victoria 4-per-cent. Debentures .. .. .. • ■ • • • • ■ • 124, 200 0 0 South Australia 4-per-cent. Debentures .. .. .. •• •• •• 23,200 0 0 New South Wales 4-per-cent. Stock .. .. .. .. •■ •• •• 105,412 12 6 Victoria 4-per-cent. Stock .. .. .. •• •• •• •• •• 29,183 3 2 New South Wales 3£-per-cent. Stock .. .. .. .. •• •• •• 42,178 9 4 Canada 3_-per-cent. Stock .. .. .. .. •• •• •• •• 13,973 13 1.0 1,423,350 16 9 Cash balance on 31st March, 1887 .. .. .. .. .. 3,849 1 0 Total £1,427,199 17 9

[Approximate Cost of Paper.— Preparation, nil; printing (1,375 copies), £o lis.]

By Authority : Geoege Didsbuby, Government Printer, Wellington.—lBB7.