XXXIII

8.—6.

on that amount. The Consolidated Fund will continue to receive interest at the rate of 4 per cent, per annum on the capital amount so transferred. During the year £17,149,789 was raised for the following purposes : — £ £ Discharged-soldiers settlement .. .. .. 8,560,554 Land for settlement (discharged soldiers) . . .. 1,108,050 9,668,604 Public works .. .. .. .. .. 2,890,000 Electric supply .. .. .. .. .. 1,407,510 4,297,510 War expenses .. .. .. . . .'. .. 1,449,545 Education loans .. .. .. .. .. .. 270,000 Fishing industry .. . . . . .. . . .. 1,490 Hauraki Plains settlement . . .. .. . . . . 54,000 Housing .. .. .. .. .. .. 270,000 Loans for employers for workers' dwellings . . .. 3,150 273,150 Land for settlements .. .. .. .. .. 10,000 Mining advances .. .. .. .. .. .. 10,000 Native-land settlement .. .. .. .. .. 225,000 Nauru and Ocean Islands .. .. . . .. . . 600,000 Railways-improvement .. .. .. .. .. 47,490 Rangitaiki land-drainage .. .. .. .. .. • 30,000 State forests . . . . .. .. . . . . 70,000 Swamp-drainage . . . . . . . . . . . . 55,000 Waihou and Ohinemuri Rivers improvement . . . . . . 88,000 Issue of inscribed for redemption purposes . . 25 Total .. .. .. .. £17,149,814 Full details of the debt transactions will be found in 8.-l, Part II ; but for the convenience of honourable members they may be briefly summarized as under : — £ Gross debt at 31st March, 1920 .. .. 201,170,755 Less transferred to Discharged Soldiers Settlement Account .. .. .. 11,996,250 189,174,505 Increase by borrowing as above .. 17,149,814 206,324,319 Less sinking funds accrued — £ Public Trustee .. .. 5,630,887 State Advances .. .. 3,109,950 Ordinary Revenue Account 2,207 State Coal-mines Account .. 20,028 8,763,072 Net public debt .. ~.£197,561,247 The public debt of New Zealand at the 31st March, 1921, was held as follows : — £ New Zealand .. .. .. .. 104,977,354 Australia .. .. .. .. .. 1,655,450 London :. .. .. .. .. 99,691,515 £206,324,319

v—B. 6.