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

Appendix to the Journals of the House of Representatives, 1890 Session I, B-22

8.—22

1890. NEW ZEALAND.

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

Return to an Order of the House of Representatives, dated Mh July, 1800. Ordered, " That there be laid before this House—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) the several increases and decreases between that date and the 31st March, 1890, 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 81st March, 1890, showing in respect of each loan (a) the annual charge in respect of interest and sinking fund, (6) the total amount of outstanding debt, (c) the accrued sinking fund, and (d) the net debt. 11. A return showing particulars of the loans converted to the 31st March, 1890, under the operation 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, 1890. IV. A statement of debentures outstanding on the 31st March, 1890, 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.)

Statement of the Securities in which the Sinking Funds of the several Loans were invested on 31st March, 1890.

Investments in— £ s. d. New Zealand 5-per-cent. Debentures.. .. .. .. .. .. .. 54,030 0 0 4$ per cent. Debentures .. .. .. .. .. .. 32,951 0 0 4-per-cent. Debentures .. .. .. .. .. .. .. 1,000 0 0 4-por-eent. Inscribed Stock .. .. .. .. ... .. 761,628 16 2 5-per-cent. Consolidated Stock Debentures (Colonial issue).. .. .. 48,465 0 0 4J-per-ccnt. Consolidated Stock Debentures (Colonial issue) .. .. 49,800 0 0 Deficiency Bills 5-per-cent. Debentures .. .. .. .. .. .. 4,800 0 0 City of Dunedin Mortgage 7-per-cent. Debentures .. .. .. .. .. 3,300 0 0 Borough of Patea 6-per-cent. Debentures .. .. .. .. .. .. 5,000 0 0 Borough of Hawera 6-per-cont. Debentures .. .. .. .. .. 6,024 0 0 Borough of Thames 53-per-cent. Debentures .. .. .. .. .. .. 2,200 0 0 Borough of Tauranga 5-per-cent. Debentures .. .. .. .. .. .. 2,600 0 0 Cambridge Town District 6-per-cent. Debentures .. .. .. .. .. 120 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 Canada 33-per-cent. Stock .. .. .. .. .. .. .. .. 18,897 17 10 Canada 4-per-cent. Stock .. .. .. .. .. .. .. .. 52,538 16 5 Canada 4-per-cent. Debentures .. .. .. .. .. .. .. 13,700 0 0 New South Wales 3^-per-cent. Stock .. .. .. .. .. .. .. 47,693 9 7 New South Wales 4-per-cent. Stock .. .. .. .. .. .. .. 1,919 9 3 New South Wales 4-per-cent. Debentures .. .. .. .. .. .. 12,200 0 0 South Australia 4-per-cent. Stock .. .. .. .. .. .. .. 1,679 2 (j South Australia 4-per-cent. Debentures .. .. .. .. .. 23,200 0 0 Victoria 4-pcr-cent. Stock .. .. .. .. .. .. .. .. 40,337 6 0 Victoria 4-per-cent. Debentures .. .. .. .. .. .. .. 23,000 0 0 1,239,679 18 6 Cash balance on 31st March, 1890 .. .. .. .. 140,506 2 1 Total ~ .. .. .. .. £1,386,186 0 7

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2

TABLE showing particulars of the Loans converted to 31st March, 1890, under the Operation of "The New Zealand Consolidated Stock Act, 1877," and "The Consolidated Stock Act, 1884."

Authority. Amount authorise.. Date of Issue. Am

8.—22.

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, 1890, 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 on 31st March, 1890, 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.

By Authority: Georgk Didsbuot, Government Printer, Wellington.—lB9o.

3

Public Debt at 30th June, 1878. Increases to 31st Mar., 1890. Decreases to 31st March, 1890. Public Debt at 31st March, 1890. Authority. Amount authorise.. Date of Issue. Am Chi lual irge. __.__. . Loans converted into Short-dated Loans converted into 4-pei-cent. Debentures pending Inscribed Stock. Inscription into 4-per-cent. Stock. , Loans paid off. Annual Bemarks. No. From From New Loans. ; Conversions. When due. Jharge. j Sinking Funds accrued. NO. Authority. Ami rant. Amount. Net Debt. Int. S.F. Date. Amount. Terms.; Date. j Amount, j Terms. : Amount. Terms. Date. Am Date. Amount. Interest. i S.F. I I I 1 Ordinance of Legislative Council.. £ £ £ 311 £ £ £ £ £ On presentation £ £ 311 £ £ _ £ 311 Ordinance of Legislative Council 1 2 2 New Zealand Loan Act, 1856 500,000 300,000 ok nnn 25,000 300,000 25,000 25,000 50,000 50,000 50,000 4 4 4 4 4 4 •• i Uan., 1888 1 Oct., „ 1 Jan., 1889 1 July, „ 1 Oct., „ 300,000 25,000 25,000 50,000 50,000 ' : 1 Juljy, 1894 [ The accumulations of Sinking Fund now enable I the Trustees not only to dispense with further j contributions from the colony, but to pay the interest of the loan. 25,000 Uuly, 1859 ' 50,000 1 Oct., „ | 50,000 Uuly, 1864 50,000 ! 500,00C 50,000 ; 1 50,000 74,100 j j New Zealand Loan Act, 1856 I New Zealand Loan Act, 1860 3 ; New Zealand Loan Act, 1860 OUUjUUC Uuly, 1861 ! .. 93,10C 500,000 93,100 6 2 .. 1 May, 1S86 1 May, 1 May, 1886 1 May, „ j 1 May, „ j 19,000 109 65,600 112} ! 15 Jan., 1886 46j 700 109 | '.'. 47,600 109 j 20,100 109 .. ' 1 Jnljy, 1891 4,446 78,192 84,854 Cr. 28,192 Cr. 10,754 2 3 3 150,000 4 j i 4 New Zealand Loan Act, 1863 3,000,000 15 July, 1864! 488,000 INov., 1865! 500,000 15 Mar., 1866: 201,500 15 June, 1867! 236,000 15 Dec, , i 93,900 ! 1,519,400 488,000 500,000 201,500 286.000 93,900 5 4 6 6 6 1 13,600 A 15 July, 1914 1 Nor., 1915 15 Mar., 1891 15 Jui.e, „ 15 De.:., , j Aniual ) ( drawings ) 1 Jan., 1893 15 Api|il, 1913 378,800 ! 500,000 j 154,800 I 188,400 ! 73,800 ! i 1,295,800 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. -■ / 2 2 2 •• 3,096 3,768 1,476 New Zealand Loan Act, 1863 ... New Zealand Consolidated Loan Act, 1867 '. \ 6 New Zealand Consolidated Loan Act, 1867— 1,519j 400 -I 694,126 601,674 4 5 B. Seven years' currency to 15th April, 1892; then to be converted into 4-per-cent. Inscribed Stock at 107. C. Six years' currency to 15th April, 1892 ; then to be converted into 4-per-cent. Inscribed Stook at 107. English issue Colonial issue 7,2S3,100 6,531,400 6,531,400 5 1 1 May, 1886 | 38 900 ; 106 'jl5 APri1' i885 38,200 j 10b j 15 April] 1885 '.'. '.'. ■ 1 July,' 1886 3,651,700 562,400 Bl 1879-90 1,017,300 1,261,800 64,000 13,000 77,000 179,920 72,831 618 1,261,182 English issue. 77,000 Uan., 1873 64,000 15 April, „ 13,000 77,000 64,000 13,000 77[000 5 4 3,200 520 77,000 Colonial issue. Public Debts Act, 1867 Auckland Loan Act, 1863. Wellington Loan Act, 1866. Nelson Waterworks Loan Act, 1864. Lyttelton and Christchurch Bailway Loan Ordinance, 1860 Canterbury Loan Ordinance, 1862. Otago Loan Ordinance, 1862. Immigration and Public Works Loan Act, 1870 6 7 Public Debts Act, 1867— Auckland Loan Act, 1863 Wellington Loan Act, 1866 .. .. Nelson Waterworks Loan Act, 1864 Lyttelton and Christchurch Bailway 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 Uuly, 1863 .. 31,600 1 July, 1866 .. 13,500 6,200 Various .. .. 77,700 oo Qnn 31,600 13,500 6,200 77,700 22,800 116,700 6 8 8 6 6 6 2 2 2 2 1 1 131500 100 1880-81 6^200 1 June, 1896 i. E 1 Juljs 1898 1 Jure, 1907 1 Jure, 15 April, 1913 15 April, 31,600 77.700 22,800 116,700 1,896 4,662 1,368 7,002 632 1,554 228 1,167 21,401 67,822 5,934 63,162 10,199 9,878 16,866 53,538 D. 1st July, 1893 .. .. £28,700 1st July, 1894 .. .. 21,300 1st January, 1896 .. .. 18,500 1st January, 1897 .. .. 9,200 „ 77,700 E. 2nd January, 1915 .. .. £10,600 2nd July, 1916 .. .. 12,200 22,800 22,800 Uuly, 1863 .. 116,700 .. 1 June, 1871 .. 200,000 1 June, 1873 200,000 4 4 2-4 2-4 800^000 200,000 800,000 1,000,000 372,100 27,900 400,000 40,000 14,884 1,255 24,000 226,076 773,924 Colonial issue .. .. .. 400,000 15 April, „ 372,100 1875-78. 25,700 ' 397.800 372,100 25,700 4 4. Guaranteed by Imperial Government. 397*800 2,200 j " 400,000 Colonial issue. Consolidated Loan of 1867 .. .. 2,100,000 4%-per-cent. Five-thirties .. .. 500,000 £4,000,000 Included Included ! 397,800 in No. 5. in No. 12. 8 Defence and Other Purposes Loan Act, 1870 Consolidated Loan of 1867 ,. .. £600,000 b-per-cent. Five-thirties .. .. 250,000 Colonial issue .. .. .. 150,000 £1,000,000 1,000,000 Included Included in No. 5. in No. 13. Kn nnn ■ I Defence and Other Purposes Loan Act, 1870 50,000 15 April, 1873 75,000 j Uuly, 1880 20,000 25 June, 1881 5,000 , ! 150,000 50,000 75,000 20,000 5,000 ; 150^000 5. 4 4. 4J ... 31 Dec, 1885 j 50,000 100 15 April, 1913 j 75,000 1 July, 1910 : 20,000 1 July, , 5,000 . 100,000 15 Apr 1 July 1 Jul| d, 1913 r, 1910 3,000 . 900 [ 225 ! 100,000 " 9 Immigration and Public Works Loan Act, 1873 b-per-cent. Five-thirties .. .. £500,000 4£ _ . •• •• 1,500,000 £2,000,000 2,000,000 Included Included in No. 13. in No. 12. 100,000 Colonial issue. Immigration and Public Works Loan Aot, 1873 10 10 General Purposes Loan Act, 1873 b-per-cent. Five-thirties .. .. £500,000 Colonial issue .. .. .. 250,000 £750,000 750,000 Included in No. 13. 15 May, 1874 12,300 ; 49.500 20.900 ■ 15 Oct., 1873 18,500 6,200 87,900 51,700 250,000 43,900 15 Dec, 1888 : .. 28 Nov., 1884 '.'. .. .' 15 Oct.! 1885 .. 28 Nov., 1884 1 Feb., 1884 3,053,900 103 } 1 Feb., 1886 1,891,200 101 \ 1 Aug., „ 1,054,900 p J 15 Jan., 1884 504,400 103_ 1 15 Jan., 1885 | 745,600 102| } 49^500 20,900 6^200 87,900 100 100 100 ! 00 15Ma+, 1914 ; 12,300 492 10 General Purposes Loan Aot, 1873 F. Incomplete. 4 ! .. 5 4 4 4_ .. 5 I .. 5 i .. 49^500 20,900 MOO 87,900 1,500 1,900 0 100 0 100 r. i __A 15 Oct.,' 1913 : 18[500 " 15 Mai 15 Oct. 740 Colonial issue. North Otago District Public Works Loan Act, 1872 >,200 0 100 28 Nov.', 1914 I 54J700 '' ! 85,600 2,735 85,500 ',900 0 100 28 Nov 11 North Otago District Public Works Loan Act, 1872 70,000 5 1878-88 43,900 85,500 II 11 4_ 12 12 Four-and-a-half -per-cent. 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 6,000,000 250,000 500,000 500,000 1,250,000 1 Mar., 1878 1,000,000 IMar., „ 2,500,000 3,500,000 15 April, 1874 .. 50,000 I 12 Four-and-a-half-per-cent. Five-thirties .. .. .. ; 13 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 j I 13 Five-per-cent. Five-thirties 5 .'. j * £2,114,900 in cash, and £92,400 of debentures accepted at par. 14 14 Five-per-cent. Ten-forties — New Zealand Loan Act, 1876 1877.. 1,000,000 2,500,000 1 Mar., 1890 j*2,207,300 Five-per-cent. Ten-forties .. .. .. Westland Loan Act, 1873 15 Westland Loan Act, 1873 50,000 5 5 IMay, 1886' 1,292,700 ! 102 15 April, 1894 .. 50,000 ' 2,500 50,000 14 15 15 12 April, 1885 j 3,000 16 16 17 Nelson Loan Act, 1874 Wellington Debts Act, 1876 27,000 58,000 23 Mar., 1876 15,000 3,000 ■ : IS,000 16,500 ! 25,000 i 16,500 : ! 58.000 7 7 5 5 ,000 ) 100 ioo 23 Mai, 1896: 15,000 ; i 15,000 1,050 ! 15,000 16 Nelson Loan Act, 1874 17 Wellington Debts Act, 1876 New Zealand Loan Act, 1879 1878-79 58,000 17 18 18 New Zealand Loan Act, 1879 5,000,000 INov., 18791 5 | .. 5,000,000 ( ( INov., 1879 4,476,000 '■ 1201 I IMay, 1886! 136,000 : 103j .. ' INov., 1889 | 388,000 19 Treasury Bills— Treasury Bills Extended Currency Act, 1S73 .. 1876 .. Appropriation Act, 1S76 .. •• •• •• I Financial Arrangements Act, 1876 .. .. .. j I 400,000 172,000 110,000 150,000 ;. 400,000 172,000 110,000 150,000 832,000 ] 1 » !, about: 31 Dec, 1883 1,832,000 100 I . ! Treasury Bills J" 19 G. Included with issue of £1,325,000 authorised by New Zealand Loan Aot, 1886. t At 6J per cent, t At 6 per cent. 20 : Treasury Bills Act, 1879 1880 New Zealand State Forests Act, 1885 800,000 200,000 1886-89 800,000 200,000 Q AAA 800,000 200,000 8,000 ) IMar:, 1898 • .. 8,000 ; 400 j 8,000 New Zealand State Forests Act, 1865 .. 5 ] .. 20 10 8,000 21 1885-86 4 : .. 357,4S7 357,4S7 35,000 40,000 .. j 1888-89 87 1 Afril, 1905' 114,600 I 1 Oct.; 1896 ! 35,000 | 1 July, 1909 40,000 • i ! 189,600 4.584 2,188.; 2,400;! 189,600 District Bailways Purchasing Acts, 1885, 1886 21 !1 District Bailways Purchasing Acts, 1885, 1886 1 Nov., 1886 242,800 G 35,000 a _. i .riA ... i 250,000 40,000 I j . New Zealand Colonial Inscribed Stock Loan Act. 1882 .. ; 22 New Zealand Colonial Inscribed Stock Loan Act, 18S2 5 250,000 250,000 .. 1 Nov., 1888 I 250,000 3,000 i0 100 22 12 5 1 Mar., 1892! .. 250,000 10 Oct., 1891 100,000 ! 1 Oct., 1891 I 50,000 ; 1 ! 150,000 j 1 Mar., 1S93! .. 400,000 12,500 4,500 2,500 16,000 250,000 150,000 400,000 23 Government Loans to Local Bodies Act, 1886 23 13 Government Loans to Local Bodies Act, 1885 1S87-90 250,000 24 ',4 Public Eevenues Act, 1SS6 150,000 9 Oct., 18S6 9 Oct., „ 4J 5 100,000 50,000 Public Eevenues Act, 1886 Public Revenues Act, 1887 (No. 3) 400,000 | :34 35 25 Public Eevenues Aot, 1887 (No. 3) 1 Mar., 1888 j 4 400,000 25 26 26 27 New Zealand Consolidated Stock Act, 1877 (4 per cents)— New Loans — New Zealand Loan Act, 1S82 1884 1886 18S8 North Island Main Trunk Bailway, 1882 Conversions .. .. - ■ ■ • " , , " New Zealand Consolidated Stock Act, 1877 (3_ per cents)— To redeem balances of loans of 1876,1877, and 1879 Expenses j 3,000,000 i 1,500,000 | 1,325,000 ; 1,000,000 1,000,000 (INov., 1882; \ 1 Nov., 1882 : (.INov., 1834; 1 May, 1885 j 1 Nov., 18S6 | 1 May, 1888 I 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 INov., 1929 i 1,000,000 1 Nov., „ ' 1,000,000 INov., „ 1,000,000 INov., „ 1,500,000 INov., „ i 1,325,000 j 1 Nov., „ 1,000,000 INov., „ : 1,000,000 1 Nov., „ 16,739,255 I 24,564,255 1 Jan.. 1940 2,700,000 1 Jan., „ I 70.000 j i 2,770,000 J 15 April, 1892 ! 3,651,700 i 15 Jan., „ 43,600 15 April, „ 562,400 28 Nov., 1891 20,900 28 Nov., „ ' 87,900 28 Nov., „ i 3,000 28 Nov., „ i 6,200 28 Nov., „ i 50,000 28 Nov., „ '. 13,500 INov., 1895 j 250,000 28 Nov., 1891 I 49,500 28 Nov., „ ! 44,700 28 Nov., „ 894,384 ; 1 5,677,784 982,570 96,950 I 182,585 2,180 28,120 940 3,955 135 . 310 j 2,375 675 i 12,500 2,228 2,012 37,519 I I __ 144 ', 000 2 L. 24,564,255 2,770^000 5,533,78? • - " " " * ■• 16,739,255 24,564,255 26 New Zealand Consolidated Stock Act, 1877 (4 per cents) Convertible into 4-per-cent. Inscribed Stock at 107. Convertible into 4-per-cent. Inscribed Stock at 110. Convertible into 4-per-cent. Inscribed Stock at 107. 27 1 Jan., 1890 ■- 2,700,000 70,000 I 2,770^000 27 New Zealand Consolidated Stock Act, 1877 (3_ per cents) .. 28 28 New Zealand Consolidated Stock Act, 1884— English issue—Conversions Colonial issue—Conversions 15 April, 1885 15 Jan., 1886 15 April, „ 28 Nov., 1884 28 Nov., „ 12 April, 1885 15 Oct., „ 31 Dec, „ 1 July, 18S6 1 Nov., 18S8 15 Dec, „ Various 5 ! 5 5 4. 4_ 4. 4_&5 5 5 4J 4. 5 3,651,700 43,600 562,400 20,900 87,900 3,000 6,200 50,000 13,500 250,000 49,500 \ \ _ I New Loans 44,700 94.3S4 New Zealand Consolidated Stock Act, 1884 ' '.'. 5,533,784 28 Totals 21,739,41] 21,739,411 15,466,700 4.738,700 4,738,701 38,70 '00 .. j .. 4,170,787 38,667,950 1,734,881 112,540 1,386,185 '37,281,765 19,826,771 21,477,955 I Approximate Cost of Paper.— Preparation, nil; printing (1,300 iopies), £8 10s.