I.—7b.

Statement showing Increase or Decrease of (a) Interest and (b) Sinking Fund respectively (a) charged and (b) paid respectively in Years 1890-91, 1891-92, 1892-93, 1893-94, 1894-95, and as estimated for 1895-96. 1. As if present system of dealing with drawing loan of 1867 had been in force during the years named: — Year. Interest. Sinking Fund. £ £ £ 1890-91 ... 1,621,697 39,709 1891-92 ... 1,651,518 34,638 Increase 29,821 Decrease 5,071 1892-93 ... 1,559,245 44,704 Decrease 92,273 Increase 10,066 1893-94 ... 1,606,726 50,872 Increase 47,481 Increase 6,168 1894-95 ... 1,618,882 39,771 Increase 12,156 Decrease 11,101 1895-96 ... *1,652,575 *42,030 Increase 33,693 Increase 2,259 2. As under the old system of dealing with drawing loan of 1867, and if same was continued for 1894-95 and 1895-96 :— Year. Interest. Sinking Fund. £ £ £ 1890-91 ... 1,745,713 112,540 1891-92 ... 1,785,460 107,469 Increase 39,747 Decrease 5,071 ' 1892-93 ... 1,703,594 117,535 Decrease 81,866 Increase 10,066 1893-94 ... 1,761,994 123,703 Increase 58,400 Increase 6,168 1894-95 ... 1,784,679 112,602 Increase 22,685 Decrease 11,101 1895-96 ... *1,826,862 *114,861 Increase 42,183 Increase 2,259 * Estimated. The Hon. Mr. Seddon to move to add, "And it has been proved to the satisfaction of the Committee that, owing to the new system inaugurated last year by the Treasury in connection with the ' drawing bonds,' there has been at least £180,000 less available during the year for the use of the Government." Besolved, On the motion of the Hon. Mr. Ward, That the returns dated the 29th April, the 6th August, and the 16th August, together with the correspondence, the minutes of evidence, and the minutes of proceedings be printed. The Committee then adjourned until 4 o'clock in the afternoon to enable the notices of motion to be printed. Debentures, £145,400. Upon assembling at 4 o'clock, the Hon. Mr. Seddon moved the motion of which he had given notice. Mr. Montgomery moved to strike out the words " a proper one," in the last line. Upon the question being put, a division was called fori and the names were taken down as follow:— Ayes, s.—Mr. G. Hutchison, Hon. Mr. Larnach, Mr. Montgomery, Dr. Newman, Hon. Sir R. Stout. Noes, 6.—Mr. Guinness, Mr. McGowan, Hon. Mr. Seddon, Mr. Tanner, Mr. T. Thompson, Hon. Mr. Ward. So it passed in the negative. Words retained. The Hon. Mr. Ward moved to insert, before the words "in accordance with law," the words " and was, in the opinion of the Solicitor-General and of the Controller and Auditor-General." Upon the question being put, that the words proposed to be inserted be so inserted, a division was called for, and the names were taken down as follow :— Ayes, B.—Mr. Guinness, Mr. McGowan, Mr. Montgomery, Hon. Mr. Larnach, Hon. Mr. Seddon, Mr. Tanner, Mr. T. Thompson, Hon. Mr. Ward. Noes, 3.—Mr. G. Hutchison, Dr. Newman, Hon. Sir R. Stout. So it passed in the affirmative. Words inserted. The Hon. Sir R. Stout then proposed to strike out all the words after " That," and insert the amendment of which he had given notice. Upon the amendment of the Hon. Sir R. Stout being put, a division was called for, and the names were taken down as follow :— Ayes, 4.—Mr. G. Hutchison, Mr. Montgomery, Dr. Newman, Hon. Sir R. Stout. Noes, 7. —Mr. Guinness, Hon. Mr. Larnach, Mr. McGowan, Hon. Mr. Seddon, Mr. Tanner, Mr. T. Thompson, Hon. Mr. Ward. So it passed in the negative. Amendment lost. The Hon. Mr. Seddon's motion, as amended, was then put, and it passed in the affirmative,

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