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

Appendix to the Journals of the House of Representatives, 1889 Session I, B-18

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1889. NEW ZEALAND.

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

Return to an Order of the House of Representatives dated 29th June, 1888. Ordered, " That there be laid upon the table—l. A return in continuation of the return presented last session, showing (1) particulars of the public debt of the colony on the 30th June, 1878 ; (2) tho several increases and decreases between that date and the 31st March, 1888, whether arising from new loans or the conversion of old loans, or from paying off of any loan; (3) the rate of interest and sinking fund payable in respect of each loan; (4) particulars of the public debt at the 31st March, 1888, showing in respect of each loan (a) the annual chargo in respect of interest and sinking fund, (b) the total amount of outstanding debt, (c) the accrued sinking fund, and (d) tho net debt. 11. A return showing particulars of the loans converted to 31st March, 1888, under the operations of " The New Zealand Consolidated Stock Act, 1877," and " The Consolidated Stock Act, 1884." 111. A statement of the securities in which the sinking funds of the several loans were invested on the 31st March, 1888. IV. A statement of debentures outstanding on the 31st March, 1888, showing the date on which, and the authority under which, they were issued, and the date on which they are due." —(Hon. Sir J. Hall.) Note.—As the return could not be completed in time to be laid upon the table last session, the information ordered has been brought down to 31st March, 1889.

Statement of the Securities in which the Sinking Funds of the several Loans were invested on 31st March, 1889. Investments in— . £ s. d. New Zealand 5-per-cent. Debentures .. .. .. .. .. .. .. 54,050 0 0 4J-per-cent. Debentures .. .. .. .. .. .. .. 32,951 0 0 4-per-eent. Debentures .. .. .. .. .. .. .. 1,000 0 0 „ 4-per-cent. Inscribed Stock .. .. .. .. .. .. 811,086 3 9 5-per-cont. Stock (Colonial issue) .. .. .. .. .. .. 29,730 0 0 4J-pcr-cont. Stock (Colonial issue) .. .. .. .. .. 49,800 0 0 City of Dunedin Mortgage 7-per-cent. Debentures .. .. .. .. .. 3,300 0 0 Borough of Patea 6-per-cent. Debentures .. .. .. .. .. .. 5,000 0 q Borough of Hawera 6-per-cent. Debentures .. .. .. .. .. .. 6,024 0 0 Borough of Thames SJ-per-cent. Debentures .. .. .. .. .. .. 2,200 0 0 Cambridge Town District 6-per-cent. Debentures .. .. .. .. .. 190 0 0 Waitara Harbour Board 6-per-cent. Debentures .. .. .. .. .. .. 15,120 0 0 Wellington and Manawatu Railway Company 5-per-cent. Debentures .. .. .. 17,455 0 0 Deficiency Bills 5-per-cent. Debentures .. .. .. .. .. .. 4,800 0 0 Canada 4-per-cent. Debentures .. .. .. .. .. .. .. 13,700 0 0 New South Wales 4-per-cent. Debentures .. .. .. .. .. .. 12,200 0 0 Victoria 4-per-cent. Debentures .. .. .. .. .. .. .. 31,400 0 0 South Australia 4-per-cent. Debentures .. .. .. .. .. .. 23,200 0 0 South Australia 4-per-cent. Stock .. .. .. .. .. .. .. 1,079 2 6 New South Wales 4-per-cent. Stock .. .. .. .. .. .. .. 1,919 9 3 Victoria 4-per-cent. Stock .. .. .. .. .. .. .. .. 39,709 9 6 New South Wales 3J-per-cent. Stock .. .. .. .. .. .. .. 47,693 9 T Canada 3J-per-cent. Stock .. .. .. .. .. .. .. .. 15,698 0 5 Canada 4-per-cent. Stock .. .. .. .. .. .. .. .. 17,685 7 0 1,237,591 2 0 Cash balance on 31st March, 1889 .. .. .. .. ... 157,798 0 1 Total „ .. .. • ... ... £1,395,389 2 1

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2

TABLE showing particulars of the Loans converted to 31st March, 1889, under the Operation of "The New Zealand Consolidated Stock Act, 1877," and "The Consolidated Stock Act, 1884."

Loans converted. Converted into Four-per-cent. Inscribed Stock, maturing 1st Nov., 1929. Converted into Short-dated Debentures under " The Consolidated Stock Act, 1884." Terms. Amount. From "what Date. Interest. Loan. Interest. Due Date. Amount converted. From what Date. Amount. Term a. New Zealand Loan Act, 1860 New Zealand Loan Act, 1863 p.c. 6 5 5 6 6 6 £ 19,000 109 112J 20,710 73,800 £ p. c. 1 July, 1891 15 July, 1914 65,600 I 43,600 i 46,700 ! 47,600 ■ 20,100 j 1 May, 1886 5 (6 years' currency, 15 Jan., "1892 ; then to be converted into 4-per-cent. [ Inscribed Stock, at 110. 15 Jan., 1886 43,600 Consolidated Loan Act, 1867 15 Mar., 1891 15 June, 1891 15 Dec, 1891 223,600 1 May, 1886 109 109 109 50,903 51,884 21,909 5 5 36 years 3G years 3,651,700 562,400 ; " 15 April, 1885 15 April, 1886 3,651,700 562,400 5 5 7 years, to 15 April, 1892 ; then Stock at 107. C years, to 15 April, 1892 ; then Stock at 107. Nelson Loan Act, 1874 Wellington Loan Act, 1866 5 7 8 36 3-ears 38,200 [ 4,252,300 3,000 13,500 1 May, 1886 106 40,492 4J 5 Par. Par. 12 April, 1885 1 July, 1886 " 12 April, 1885 1 July, 1886 f 3,000 13,500 25,000 25,000 Defence and Other Purposes Loan Act, 1870 51 31 Dec, 1885 I 50,000 31 Dec, 1885 Par. Five-per-cent. Five-thirties 5 5 15 July, 1906 504,400 745,600 1,250,000 15 Jan., 1884 15 Jan., 1885 103J 102J 522,054 764,240 Four-and-a-half-per-cent. Five-thirties | 1 Feb., 1904, ( [■ and J ) 1 Feb., 1905 ( 3,053,900 1,891,200 1,054,900 6,000,000 1,292,700 1 Feb., 1884 1 Feb., 1886 1 Aug., 1886 103 101 I 3,145,517 i 1,910,112 ! 1,060,000 f Five-per-cent. Ten-forties General Purposes Loan Act, 1873 ■• I 5 4 4J 5 5 1 Mar., 1918 15 Oct., 1883 15 Oct., 1885 28 Nov., 1884 15 Dec, 1888 20,900 6,200 87,900 49,500 1 May, 1886 102 j 1,318,554 20,900 6,200 87,900 49,500 | 5 164,500 1,832,000 •• 28 Nov., 1884 15 Oct., 1885 28 Nov., 1884 15 Dec, 1888 Par. Treasury Bills Act, 1879 and 1S80 New Zealand Loan Act, 1879 ■• 5 5 5 1 Jan., 1886 1 Nov., 1889 4,476,000 136,000 31 Dec, 1883 1 Nov., 1879 1 May, 1886 100 120 103 1,832,000 ! 5,371,200 140,080 •• District Kailways Purchasing Acts, 1885 and 1886 .. Colonial Inscribed Stock Act, 1882 Expenses of Conversion (on account) 4,612,000 •• 4 5 1 April, 1905 1 Nov., 1888 242,800 250,000 1 Nov., 1S86 100 242,800 1 Nov., 1888 250,000 4,738,700 : 6 173,000 Par. "" •■ —\ Totals 20,205,400 16,739,255 * Conversion incomplete at 31st March, 1889.

Return showing (1) Particulars of the Public Debt of the Colony on 30th June, 1878; (2) the several Increases and Decreases between that Date and the 31st March, 1889, whether arising from New Loans, or the Conversion of Old Loans, or from paying off any Loan; (3) the Rate of Interest and Sinking Fund payable in respect of each Loan; (4) Particulars of the Public Debt at 31st March, 1889, showing in respect of each Loan (a) the Annual Charge for Interest and Sinking Fund, (b) the Amount of Outstanding Debt, (c) the due Date thereof, (d) the accrued Sinking Fund, and (e) the Net Debt.

Public Debt at 30th June, 1878. Increases to 31st Mar., 1889. From From Kew Loans. iConversic ted into 4-per-cont. ibed Stock. Loans converted into Short - dated Debentures pending Inscription into 4-per-cent. Stock. Decreases to 31st March, 1889. Loans pa: Public Debt at 31st March, 1889. .o.| Amount authorised. Annual Charge. Loans conven Inscri id Off. Amount. Annual Charge. Interest. S.F. Sinking Funds accrued. I Net Deht. Authority. Bemarks. No. Authority. Date of Issue. Aon mat. I When due. j Int. ■ S.P. I ; Date. I Amount. \ Terms. [ Date. Amount. I Terms.i i I Date. Amount. £ £ 311 £ £ £ £ ■b £ .g 311 £ £ £ £ 1 Ordinance o{ Legislative Council On presentation 311 1 Ordinance of Legislative Council 500,000 »» 300,000 25,000 25,000 50,000 50,000 50,000 4 4 4 4 4 4 1 Jan., 1888 1 Oct., 1 Jan., 1889 300,000 25,000 25,000 2 New Zealand Loan Act, 1856 The accumulations of Sinking Fund now enable I the Trustees not only to dispense with further contributions from the colony, but to pay the interest of the loan. New Zealand Loan Act, 1860 Uuly, 1859 1 Oct., 1 July, 1864 Uuly, 1889 1 Oct., 1 July, 1894 50,000 50,000 50,000 I i 3 150,000 1 July, 1861 506!000 93,100 6 2 1 May, 1880 19,000 109 1 July, 1891 .. 150,000 74,100 4,446 171,910 80,319 Cr. 21,910 Or. 6,219 3 j 2 New Zealand Loan Act, 1856 3 New Zealand Loan Act, 1860 .. " .. ,, 4 New Zealand Loan Act, 1863 3,000,000 15 July, 1864 1 Nov., 1805 15 Mar, I860 15 June, 1867 15 Dec, 488,000 500,000 201,500 236,000 93,900 5 4 6 6 6 1 2 2 2 1 May, 65,600 112J 15 Jan., 1886 43,600 A 15 July, 1914 1 Nov., 1915 15 Mar., 1891 15 June, „ 15 Dec, 378,800 500,000 154,800 188,400 73,800 18,940 20,000 9,288 11,304 4,428 3,788 A. Six years'currency to 15th January, 1892; then to be converted into 4-per-cent. Inscribed Stock at 110. 1 May, 1886 1 May, 1 May, 46,700 47,600 20,100 109 109 109 3,096 3,768 1,476 1 New Zealand Loan Act, 1863 5 New Zealand Consolidated Loan Act, 1867 ' '. ! New Zealand Consolidated Loan Act, 1867 — 1,519,400 1,295!800 655,473 640,327 4 5 5 English issue Colonial issue 6,531,400 5 1 1 May, 1886 38,200 106 ■ 15 April, 1885 15 April, 1886 3,651,700 562,400 C/ 1879-89 968,700 f Annual | I drawings J 1 Jan., 1893 15 April, 1913 1,310,400 65,520 180,561 141,725 1,168,675 B. Seven years' currency to 15th April, 1892 • then to be converted into 4-per-cent. Inscribed Stock at 107. O. Six years' currency to 15th April, 1892 ; then * ia S converted in*° 4-per-cent. Inscribed Stock s,t 107. 7,283,100 77.0C0 1 Jan., 1873 15 April, 64,000 13,000 5 4 64,000 13,000 3,200 520 English issue. 77!000 77!000 77,000 Colonial issue. 3 Public Debts Act, 1867 Auckland Loan Act, 18G3. Wellington Loan Act, 1866. Nelson Waterworks Loan Act, 1864. Lyttelton and Christclmreh Railway Loan Ordinance, 1860 Canterbury Loan Ordinance, 1802. Otago Loan Ordinance, 1862. J Immigration and Public Works Loan Act, 1870 Public Debts Act, 1867— Auckland Loan Act, 1863 Wellington Loan Act, 1866 Nelson Waterworks Loan Act, 1864 Lyttelton and Christchurch Railway Loan Ordinance, 1860 Canterbury Loan Ordinance, 1862 Otago Loan Ordinance, 1862 Immigration and Public Works Loan Act, 1870 Guaranteed by Imperial Government .. 1,000,000 500,000 50,000 20,000 300,000 500,000 500,000 4,000,000 1 July, 1863 1 July, 1866 Various 31,600 13,500 6,200 77,700 22,800 116,700 6 8 8 6 6 6 2 2 2 2 1 1 1 July, 1886 13,500 IOO 1880-81 f>!200 1 June, 1896 i) E ; 1 July, 1898 1 June, 1907 1 June, „ 15 April, 1913 15 April, „ 31,600 77,700 22,800 110,700 1,896 4,662 1,368 7,002 632 1,554 228 1,167 19,901 63,177 5,449 59,284 11,699 14,523 17,351 57,410 D. 1st July, 1893 .. .. 28,700 1st July, 1894 .. ,. 21,300 1st January, 1896 .. ... 18! 500 1st January, 1897 .. .. 9,200 1 July, 1863 I •• 1 June, 1871 1 June, 1873 200,000 4 4 24 2-4 800,000 200,000 800,000 1,000,000 40,000 14,884 1,255 24,000 198,151 801,849 Colonial issuo .. .. .. 400,000 15 April, „ 1875-78 372,100 25.700 4 4J 2! 200 372,100 27,900 Guaranteed by Imperial Government. E. 2nd January, 1915 .. .. £10 600 2nd July, 1916 .. .. 12,200 397!800 400,000 • • 400,000 Colonial issue. 22,800 Consolidated Loan of 1867 .. . • 2,100,000 i%-per-cent. Five-thirties .. .. 500,000 £4,000,000 Included Included in No. 5. in No. 12. i * % 1,000,000 Included Included in No. 5. in No. 13. 3 | Defence and Other Purposes Loan Act, 1870 Defence and Other Purposes Loan Act, 1870 Consolidated Loan of 1867 .. .. 600,000 5-per-cent. Five-thirties .. .. 250,000 Colonial issue .. .. .. 150,000 £1,000,000 15 April, 1873 1 July, 1880 25 June, 1881 j 50,000 75,000 20,000 5,000 64 4 H j 31 Dec, 1885 50,000 100 15 April, 1913 1 July, 1910 1 July, 75,000 20,000 5,000 3,000 900 225 2,000,000 Included Included 150,000 100,000 100,000 Colonial issue. } Immigration and Public Works Loan Act, 1873 Immigration and Public Works Loan Act, 1873 h-ver-cent. Five-thirties .. .. 500,000 4J „ •■ •• 1,500,000 £2,000,000 in No. 13. in No. 12. * ' 10 General Purposes Loan Act, 1873.. 5-per cent. Five-thirties .. ■ • 500,000 Colonial issue .. .. •• 250,000 750,000 Included in No. 13. 15 May, 1874 12,300 49,500 20,900 18,500 6,200 87,900 54,700 250!000 43,900 15 May, 1914 10 ) General Purposes Loan Act, 1873 4 5 4 4 41 5 5 15 Dec.', 1888 28 Nov., 1884 49,500 20,900 100 100 12,300 492 £750,000 i 15 Oct.,' 1873 15 Oct.! 1885 28 Nov., 1884 6',200 87,900 ioo 100 15 Oct., 1913 28 Nov., 1914 18 \ 500 "740 North Otago District Public Works Loan Act, 1872 54,700 2,735 Colonial issue. I North Otago District Public Works Loan Act, 1872 70,000 85,500 5 1878-83 43,900 85,500 11 11 12 Four-and-a-half-per-ccnt. Five-thirties — Immigration and Public Works Loan Act, 1870 1873 1874 See No. 7 See No. 9 4,000,000 500,000 1,500,000 4,000,000 6,OO6|OOO 1 Feb., 1884 1 Feb., 1886 1 Aug., „ 3,053,900 1,891,200 1,054,900 103 101 F 1 I Foiir-aiid-a-half-per-cent. Five-thirties 12 ii ( ; P. Incomplete. 13 Five-per-cent. Five-thirties —■ Defence and Other Purposes Loan Act, 1870 Immigration and Public Works Loan Act, 1873 General Purposes Loan Act, 1873 See No. 8 See No. 9 See No. 10 250,000 500,000 500,000 1,250!000 t 15 Jan., 1884 15 Jan., 1885 504,400 745,600 103J 102J J Five-per-cent. Five-thirties 13 Five-per-cent. Ten-forties — New Zealand Loan Act, 1876 1877 .. 1,000,000 2,500,000 1 Mar., 1878 1 Mar., „ 5 14 1,000,000 2,500,000 - 3,500,000 50,000 5 5 1 May, 1880 1,292,700 1 Mar., 1918 15 April, 1894 2,207,300 50,000 2,207,300 50,000 1 | Five-per-cent. Ten-fortis 5 Westlancl Loan Act, 1ST8 15 Westland Loan Act, 1873 50,000 15 April, 1874 102 110,365 2,500 14 15 16 Nelson Loan Act, 1874 27,000 23 Mac, 1870 15,000 3,000 is!ooo 7 7 12 April, 1885 31000 100 23 Mar., 1896 15,000 15,000 1,050 15,000 3 Nelson Loan Act, 1874 17 Wellington Debts Act, 1876 58,000 16,500 ! 25,000 | 16,500 :: - 58,000 5 5 5 1878-79 58,000 16 New Zealand Loan Act, 1879 5,000,000 1 Nov., 1879 5 5,000,000 ( 1 1 Nov., 1879 1 May, 1880 4,476,000 136,000 120) 103 J 1 Nov., 1889 388,000 19,400 388,000 17 18 7 Wellington Debts Act, 1876 3 New Zealand Loan Acf, 1879 18 - 19 Treasury Bills— Treasury Bills Extended Currency Act, 1873 „ 1S76 Appropriation Act, 1876 Financial Arrangements Act, 1876 400,000 172,000 110,000 150,000 400,000 172,000 110,000 150,000 832,000 : about - 5 ) 31 Dec, 1883 1,832,000 Treasury Bills Act, 1879 1880 New Zealand State Forests Act, 1885 .. .. - 800,000 200,000 800,000 200,000 8,000 •• r :: ) ioo 19 3 Treasury Bills .. 1886-89 1 Mar., 1898 8,000 400 8,000 3 New Zealand State Forests Act, 1885 G. Included with issue of £1,825,000 authorised by New Zealand Loan Act, 1886. 5 20 20 4,584 21 District Railways Purchasing Acts, 1883,. 1886 1885-86 4 357,487 1 Nov., 1886 242,800 G 1888-89 87 1 April, 1905 111,600 114,600 21 1 | District Railways Purchasing Acts, 1885, 1886 22 New Zealand Colonial Inscribed Stock Loan Act, 1882 250,000 5 250,000 1 Nov., 1888 250,000 100 22 2 I New Zealand Colonial Inscribed Stock Loan Act, 1882 23 Government Loans to Local Bodies Act, 1886 1SS7-S9 5 200,000 1 Mar., 1892 200,000 10,000 200,000 23 3 Government Loans to Local Bodies Act, 1886 24 Public Revenues Act, 1S86 150,000 9 Oct., 1886 9 Oct., ' ' 5 100,000 50,000 10 Oct., 1891 1 Oct., 1891 100,000 j 50,000 4,5C0 2,500 150,000 400,000 • Public Revenues Act, 1887 (No. 3) 400,000 4 400,000 1 Mar., 1893 150,000 400,000 16,000 24 25 4 I Public Revenues Act, 16SG 5 j Public Revenues Act, 1E37 (No. 3) .. .. .. 25 1 Mar., 1888 - 26 New Zealand Consolidated Stock Act, 1S77— New Loans — New Zealand Loan Act, 1882 1884 .. ... 1886 1888 North Island Main Trunk Railway, 1882 Conversions 3,000,000 1,500,000 1,325,000 1,000,000 1,000,000 (1 Nov., 1882 ■: 1 Nov., 1883 (l Nov., 1884 1 May, 1885 1 Nov., 1886 1 May, 1888 1 May, ! | , , 4 4 4 4 4 4 4 1,000,000 1,000,000 1,000,000 1,500,000 1,325,000 1,000,000 1,000,000 1 Nov., 1929 1 Nov., „ 1 Nov., „ 1 Nov., „ 1 Nov., „ 1 Nov., „ 1 Nov., „ 1 Nov., „ 1,000,000 . 1,000,000 I 1,000,000 1,500,000 1,325,000 1,000,000 1,000,000 10,739,255 4 Q New Zealand Consolidated Stock Act, 1877 16,739 255 Convertible into 4-per-cent. Inscribed Stock at 107. Convertible into 4-per-cent. Inscribed Stock at 110. Convertible into 4-per-cont. Inscribed Stock at 107. 24,564,255 982,570 24,564,255 26 27 New Zealand Consolidated Stock Act, 1884— English issue—Conversions Colonial issue—Conversions .. 15 April, 1885 15 Jan., 18SC 15 April, „ 28 Nov., 1884 28 Nov., 12 April, 1885 15 Oct., 31 Dec, 1 July, 1886 1 Nov., 1888 15 Dec, Various 5 5 5 4J 4i 5 41 & 5 5 5 ii 5 3,651,700 43,600 562,400 20,900 S7,900 3,000 0,200 50,000 13,500 250,000 49,500 »" 15 April, 1892 15 Jan., „ 15 April, „ 28 Nov., 1891 28 Nov., „ 28 Nov., „ 28 Nov., „ 28 Nov., „ £8 Nov., „ 1 Nov., 1895 28 Nov., 1891 28 Nov., „ 28 Nov., „ 3,051,700 43,000 502,400 20,900 87,900 3,000 0,200 50,000 13,500 250,000 49,500 44,700 752,584 182,585 2, ISO 28,120 940 8,955 135 310 2,375 675 12,500 2,228 2,012 87,029 I " ■ New Loans 44|700 752,584 '• 7 New Zealand Consolidated Stock Act, 1884 5,535!984 5,535,984 27 ' i Totals 21,739,411 16,789,971 21,477,955 15,406,700 1,426,887 4,738,700 33,375,050 1,016,318 220,270 1,395,389 30,979,661 [Approximate Cost of Paper.— Cost o: )ot of Paper.— Cost o: preparation, nil; printing (1,1 530 copies), £8 10s,; By Authority: George Didsbur- ■, Government Printer, Wellington.—1889,