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than one year distant from the date when it becomes due unless and until the payment previously postponed shall actually have been made, and the payment falling due in the second succeeding year cannot be postponed at all unless and until the payment of principal due two years previous thereto shall actually have been made.

This bond may be paid on any interest date before maturity in whole or in part, in amounts of $1.000.000 or multiples thereof, at the option of Great Britain, on not less than ninety days' advance notice.

This bond is issued by Great Britain pursuant to the Proposal, dated the 18th day of June, 1923, and to the Acceptance of Proposal, dated the 19th day of June, 1923.

In Witness whereof Great Britain has caused this bond to be executed in its behalf by the Counsellor of His Britannic Majesty's Embassy at Washington, thereunto duly authorised.

For the United Kingdom:

Dated 15th December, 1922.

(Back.)

The following amounts have been paid upon the principal amount of this bond:

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The Right Honorable

ACCEPTANCE.

SIR AUCKLAND GEDDES, G.C.M.G., K.C.B.,

Ambassador Extraordinary and Plenipotentiary,
The British Embassy,

Washington, D.C.

MY DEAR MR. AMBASSADOR,

I have the honor to acknowledge the receipt of your note of the 18th June, 1923, transmitting the proposal dated the 18th day of June, 1923, by His Britannic Majesty's Government to the Government of the United States of America regarding the funding of the debt of Great Britain to the United States. This proposal is agreeable to the World War Foreign Debt Commission, and I am writing for the Commission and by its authority to advise you that the proposal is hereby accepted on behalf of the United States of America, pursuant to the authority conferred by the Act of Congress approved February 9, 1922, as amended by the Act of Congress approved February 28, 1923.

In accordance therewith I am writing to ask that bonds as contemplated thereby may be delivered as soon as possible to the Secretary of the Treasury of the United States in exchange for the demand obligations amounting to $4,074,818,358.44 now held by him, which are otherwise now payable.

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ANNUAL ACCOUNTS of EXCHEQUER BILLS, and other GOVERNMENT SECURITIES purchased, and AMOUNT of BALANCES of SUMS issued for the Payment of DIVIDENDS: &c., for the Year ending 5 January 1923.

(Presented pursuant to Acts 59 Geo. 3, c. 76, s. 5, and 24 Vict. c. 3, s. 9.)

Ordered, by The House of Commons, to be Printed,

13 February 1923.

LONDON:

PUBLISHED BY HIS MAJESTY'S STATIONERY OFFICE.

To be purchased through any Bookseller or directly from

H.M. STATIONERY OFFICE at the following addresses:

IMPERIAL HOUSE, KINGSWAY, LONDON, W.C. 2, and 28, ABINGDON STREET, LONDON, S.W.1; 37, PETER STREET, MANCHESTER; 1, ST. ANDREW'S CRESCENT, CARDIFF; or 120, GEORGE STREET, EDINBURGH,

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AN ACCOUNT of the AMOUNT of all EXCHEQUER BILLS, and other GOVERNMENT SECURITIES, which have been purchased by the Governor and Company of the Bank of England, or on which any Sum or Sums have been lent and advanced for the Public Service by the Governor and Company of the said Bank, in the Year ending 5th January 1923; showing what amount of such Bills, before the making up of this Account, has been paid off and discharged, and the Amount of such Exchequer Bills, or other Government Securities, which was in the hands of the Governor and Company of the said Bank on the 5th day of January 1923 aforesaid;-pursuant to 59 Geo. 3, c. 76.

Deficiency Advances, per 29 & 30 Vict. c. 39, s. 12, in the Quarter ending 31st March 1922, advanced

Deficiency Advances, per 29 & 30 Vict, c. 39, s. 12, in the Quarter ending 30th June 1922, advanced

Deficiency Advances, per 29 & 30 Vict. c. 39, s. 12, in the Quarter ending 30th September 1922, advanced

Deficiency Advances, per 29 & 30 Vict. c. 39, s. 12, in the Quarter ending 31st December 1922, advanced

Deficiency Advances, per 29 & 30 Vict. c. 39, s. 12, 5th January 1923, advanced

Advances to H.M. Exchequer "Ways and Means."

Advanced during the Quarter end

ing 31st March 1922—

Per Act 11 & 12 Geo. 5. c. 46 Advanced during the Quarter ending 30th June 1922

Per Act 12 Geo. 5. c. 3.

Advanced during the Quarter ending 30th September 1922

Per Act 12 Geo. 5. c. 3.

Per Act 12 & 13 Geo. 5. c. 32.

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Advanced during the Quarter end

ing 31st December 1922

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AN ACCOUNT of the AMOUNT of BALANCES of SUMS issued for the PAYMENT of DIVIDENDS due and not demanded, and which remained in the hands of the Governor and Company of the Bank of England on the undermentioned days, being those next before the Issue from the Exchequer of Money for the Payment of Dividends on account of the National Debt, for each of the Four preceding Quarters respectively;-pursuant to Act 24 Vict. c. 3.

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