B—6.

Table No. 17. Summary of Public Debt and of the State Assets which may be set off against it, as at 31st March, 1925, together with Supporting Schedule showing Details of Assets. Debt. £ Ordinary debt .. .. .. .. .. .. .. .. 119,936,859 War debt .. .. .. .. .. .. .. .. .. 76,631,722 State Advances debt .. .. .. .. .. .. .. .. 21,436,180 Discharged soldiers debt .. .. .. .. .. .. 9,809,886 Surplus assets over debt .. .. .. .. .. .. 6,030,035 £233,844,682 A ssets. £ Cash and investments (Reserve Funds, Bank of New Zealand shares, &c.) .. .. 10,709,184 Sinking funds accrued .. .. .. .. .. .. .. ..13,462,839 Loans and advances outstanding (Discharged Soldiers, State Advances, &c.) .. . . 41,391,909 Revenue Earning and Trading Accounts (Railways, Telegraphs, &c.) .. .. .. 64,092,136 Lands and forests (Crown lands, State forests, &c.).. .. .. .. .. 72,385,238 Indirectly productive expenditure — £ Roads and public buildings, &c. .. .. .. .. .. 28,977,963 Immigration .. .. .. .. .. .. .. 2,825,413 —— 31,803,376 £233,844,682 Details of Assets included above. (Note : Stores or supplies in hand not included in assets.) Cash and Investments : — *Cash in the Public Account and in the hands of officers of the £ £ £ Government .. .. .. .. .. 2,290,917 fLess liabilities outstanding, 31st March, 1925 .. .. 1,838,168 — 452,749 investment of cash balances .. .. .. .. .. 5,352,281 Reserve fund (securities at cost) .. .. .. .. .. 1,928,162 Post Office Savings-bank Reserve Fund .. .. .. .. 1,000,000 Bank of New Zealand shares (nominal value) .. .. .. 1,500,000 New Zealand Consols —Investments and cash .. .. .. 475,992 -—— 10,709,184 Sunking funds accrued— Public Debt Extinction Act, 1910 .. .. .. .. 3,311,144 War Loans (Finance Act, 1918 (No. 2), Section 6) .. .. .. 4,898,934 Local Bodies' Loans Act, 1908 .. .. .. .. .. 799,601 Naval Defence Act, 1909 .. .. .. .. .. 876,380 War and defence loans .. .. .. .. .. .. 192,691 New Zealand Loans Act, 1863 .. .. .. .. .. 2,207 State Advances debt .. .. .. .. .. 1,931,183 State Coal-mines Act, 1908 .. .. .. .. .. 41,669 Westport Harbour loans .. .. .. .. .. 181,230 State Advances Act, 1913, section 26— Land for settlements .. .. .. .. .. 1,179,732 Native-land settlement .. .. .. .. .. 11,977 Local authorities .. .. .. .. .. .. 6,497 Guaranteed mining advances .. .. .. .. 877 Samoan loan .. .. .. .. .. .. .. 3 ,070 Nauru and Ocean Islands Sinking Fund Account .. .. .. 13,539 Electric Supply Sinking Fund Account .. .. .. .. 12,108 13,462,839 Loans and advances outstanding— Mining purposes .. .. .. .. .. .. 33,635 Local bodies (annuity value of interest receivable) .. .. .. 1,128,552 Samoan (loan, less sinking fund) .. .. .. .. .. 91,930 Repatriation advances outstanding, 31st March, 1925 .. .. 492,135 Discharged soldiers'mortgages and property held .. .. .. 18,423,511 State Advances —Mortgages and property held, less sinking funds included elsewhere .. .. .. .. .. .. 21,168,080 General purposes relief —Advances outstanding .. .. .. 54,066 41,391,909

* Does not include trust, deposit, or sinking funds, or oertain other accounts included elsewhere, f After deducting £25,191, credits due from other Governments.

XVIII