1.—15

Another view of the incidence of local-authority debt can be seen from a study of interest and amortization payments from 1919 to the present:—

Table showing Interest (including Interest on Overdraft) and Amortization Payments by all Local Authorities (excluding Hospital Boards) from 1918-19 to 1943-44 *

45

Interest on . Financial Year. Loans and mor iza ion Overdraft. of Debt " £ £ 1918-19 .. .. .. 1,305,259 1919-20 .. .. .. 1,356,495 1920-21 .. .. .. 1,452,230 1921-22 .. .. .. 1,758,815 J 1922-23 .. .. .. 2,025,292 £ 1923-24 .. .. .. 2,290,773 1924-25 .. .. .. 2,523,303 * 1925-26 .. .. .. 2,726,277 3 1926-27 .. .. .. 3,079,378 3 1927-28 .. .. .. 3,452,293 1928-29 .. .. .. 3,642,925 1929-30 .. .. .. 3,895,632 1,147,630 1930-31 .. .. .. 4,021,233 1,047,339 1931-32 .. .. .. 3,963,334 1,092,573 1932-33 .. .. .. 3,877,340 1,135,158 1933-34 .. .. .. 3,476,767 1,156,661 1934-35 .. .. .. 3,362,013 1,096,777 1935-36 .. .. .. 3,243,386 1,204,628 1936-37 .. .. .. 3,120,652 1,286,919 1937-38 .. .. .. 3,031,793 1,503,972 1938-39 .. .. .. 3,029,990 1,579,316 1939-40 .. .. .. 3,034,753 1,732,216 1940-41 .. .. .. 3,030,802 1,843,985 1941-42 .. .. .. 2,928,172 1,977,124 1942-43 .. .. .. 2,806,146 2,191,163 1943-44 .. .. .. 2,725,283 2,202,203 * This table shows actual payments. The previous table showed loan charges. Further, this table includes interest on overdraft.