8.—6.

Land-drainage—'Continued progress in development of waste lands. 29,527 acres of Native land purchased. Part of Selwyn Estate taken over by State Forests Service. State advances — Total number of loans granted, 1924-25 .. .. .. 5,322 £ Amount .. .. .. .. .. .. 5,880,485 Granted for repayment of mortgages since October, 1922 .. 7,345,295 Total advances by Department since 1914 .. .. .. 26,143,191 Housing — Assistance rendered by the Government during the last six financial years : — Number of Amount. Houses. £ State advances* .. .. .. .. 17,056 9,940,317 Discharged soldiers (urban areas) .. .. 11,456 8,345,311 Discharged soldiers (farm properties) .. .. 4,063 1,186,000 Railway Department (State employees) .. . . 543 465, 655 Public Works Department (State employees) .. 247 227,640 33,365 £20,164,923 Western Samoa—Crown estates show profits and satisfactory leases effected. £ German reparation payments received to 30th June, 1925 .. .. 103,669 Public debt —- Gross debt at 31st March, 1925 .. .. . . .. 227,814,647 Subdivided — £ Ordinary.. .. .. 119,936,859 War .. .. .. 76,631,722 State advances .. .. 21,436,180 Discharged soldiers settlement 9,809,886 227,814,647 Sinking funds accrued 13,462,839 Net debt .. .. £214,351,808 £ Loans paid off during the year .. .. ~ .. .. 3,249,966 Imperial funded debt — £ Principal repaid, 1924-25 .. .. .. 507,718 Interest, 1924-25 .. .. .. .. 1,344,212 Total payment, 1924-25 .. .. .. 1,851,930 Further purchase of New Zealand 4-per-cent. stock . . .. 100,000 Saving on principal and interest effected through cancellation before maturity of total stock purchased to date .. .. .. 94,000 Volume of free-of-income-tax securities reduced to .. .. .. 39,706,299 Exchange rates, London - New Zealand, now at par.

* Excluding amounts advanced to release mortgages on house property.

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