8.—20

Session 11. 1923. NEW ZEALAND.

THE PUBLIC DEBT EXTINCTION ACT, 1910 (CERTIFICATE OF CONTROLLER AND AUDITOR-GENERAL UNDER).

Laid on the Table in compliance with Section 24 of the Public Debt Extinction Act, 1910.

As directed by section 8 of the Public Debt Extinction Act, 1910, I hereby certify that — 1. The amount of the public debt of New Zealand as defined in section 2 of the said Act was on the 31st day of March, 1923, £115,482,734. For the purposes of this certificate the total public debt must be considered as £116,000,000. 2. The actual average net rate of interest earned during the three years to 31st March, 1923, has been ascertained to be £4-399362 per centum per annum. 3. The sum required to be invested each year at compound interest at £4-399362 per centum per annum which would in seventy-five years amount to £116,000,000 is £210,405. Dated at Wellington, this 23rd day of June, 1923. G. F. C. Campbell, Controller and Auditor-General.

Approximate Cost of Paper. —Preparation, not given ; printing (475 copies), 17s. 6d.

Authority : W. A. G. Skinner, Government Printer, Wellington.—l 923.

Price 3d.]