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OTHER CAPITAL II. STATEMENT showing the TOTAL AMOUNT of OTHER CAPITAL LIABILITIES

Amounts which were made available in each year to 1922–23 inclusive for that service, the Old Sinking Fund, and Miscellaneous Receipts; and the Net Increase or Decrease of Liabilities in the year.

Total Amount of Other
Capital Liabilities on the
Ist April of each Year.

Amount of Provision issued in the Year for Other Capital Liabilities.

Other reduction of

Financial

Year.

Total
Provision

for
the Year.

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Interest.

Out of Old

Sinking Fund of previous Year. 6. £

2.
£

1875-76 1876-77 1877-78 1878-79 1879-80 1880-81 1881-82 1882-83 1883-84 1884-85

1885-86 1886-87 1887-88 1888-89 1889-90 1890_91 1891-92 1892-93 1893-94 1894-95 1895-96 1896-97 1897 98 1898-99 1899-1900. 1900-01 1901-02 1902-03 1903--04 1904-05 1905-06 1906 07 1907-08 1908--09 1909-10 1910-11 1911-12 1912-13 1913-14 1914-15

375,000

1.

£ 852,725 831,926 811,127 790,328 769,529 748,730 727,931 707,132 686,333 665,534 644,735 623,936 603,137 582,338 561,539

540,740 1,317,719 1,261,360 1,782,261 2,495,814 3,092,624 3,979,940 4,048,099 3,746,872 79,372,162 9,989,278 14,464,396 20,200,003 27,570,428 31,868,323 41,664,382 45,770,210 49,659,159 50,850,186 51,433,412 49,218,217 47,840,151 50,061,947 54,814,656 56,384,019 56,984,626 56,690,601 52,199,073 49,245,182 46,101,013 46,862,866 48,738,642 66,231,038 70,329,238

3.

£ 63,384 61,914 60,709 59,690 58,843 57,658 56,630 55,578 54,497 53,430 52,614 51,457 50,518 49,441 48,411 111,690

58,185 109,125 185,723 196,854 254,289 321,973 382,706 383,053 462,302 683,336

984,943 1,387,908 1,787,405 2,071,031 2,919,313 3,201,362 3,442,569 3,550,507 3,803,216 3,904,487 3,694,591 4,767,790 4,720,634 4,815,546 5,070,300 5,359,537 5,322,970 5,307,441 5,292,409 5,387,253 5,916,339 7,230,7131

Repayment

of Principal.

5.

£ 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 73,021 40,653 62,937 88,542 135,187 171,745 221,040 270,269 275,502 335,469 414,625 548,493

768,408 1,007,105 1,187,709 1,671,643 1,879,128 2,015,644 2,135,181 2,352,451 2,496,974 2,313,654 3,080,324 2,925,275 3,124,242 3,341,304 3,585,002 3,638,082 3,668,572 3,736,371 3,836,526 3,986,373 4,267,856

4.

£ 42,585 41,115 39,910 38,891 38,044 36,859 35,831 34,779 33,698 32,631 31,845 30,658 29,719 28,642 27,612 38,669 17,532 46,188 97,181 61,667 82,544 100,933 112,437 107,551 126,833 268,711 436,450 619,500 780,300

883,322 1,217,700 1,325,234 1,426,925 1,415,326 1,450,765 1.407,513 1,380,937 1,687,466 1,795,359 1,691,304 1,728,996 1,774,535 1.684,888 1.638,869 1,556,038 1,550,727 1,929,906 2 962,887

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LIABILITIES. outstanding on the 1st April in each year from 1875 to 1923 inclusive; the for Reduction of those Liabilities, distinguishing the sums expressly provided the Gross Amount of Liabilities Redeemed; the Amount of Liabilities Created;

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Net Increase (+) or Decrease (-) of Other Capital Liabilities in

the Year.

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Total
Amounts Applicable to Amount Total
Other Capital Liabilities applicable to Amount Gross

Other reduction of applied to Amount of Capital Taken out of Other issues Other Capital reduction of Other Capital Liabilities Exchequer from the Liabilities Other Liabilities' created Balance Exchequer in the Year. Capital redeemed in the or from and Mis- (Columus Liabilities in in the

Year. proceeds of cellaneous 5 io 8.) the Year. Year. fresh loans. receipts. 7. 8. 9. 10.

11.

12.
£
£
£
£
£

£
20,799
20,799

20,799
20,799
20,799

20,799
20,799
20,799

20,799
20,799 20,799

20,799
20,799 20,799 20,799
20,799
20,799

20,799
20,799 20,799 20,799
20,799 20,799

20,799
20,799
20,799

20,799
20,799 20,799 20,799
20,799 20,799 20,799
20,799
20,799

20.799
20,799 20,799

20,799
20,799 20,799 20,799
20,799 20,799 20,799
73,021 73,021

73,021 850,000
15,706
56,359
56,359

56,359
37,162 100,099 100,099 100,099

621,000
37,905 126,447 126,447 126,447 840,000
28,003 163,190 163,190 163,190 760,000
29,489 201,234 201,234 201,234 1,088,550
29,915 625,955 625,955 625,955 691,114
30,958 301,227 301,227 301,227
31,544 307,046

307,046 307,046 ! 3,932,336
33,032 368,501 368,501 368,501 2,985,617
24,844 439,469 439,469 439,469 4,914,587

548,493 548,493 548,493 6,284, 100 1,567 769,975 769,975

769,975 8,140,400 1,007,105 1,007,105 1,007,105 5,305,000 16,232 1,203,941 1,203,941 1,203,941 111,000,000 13,158 1,684,801 1,458,172 1,458,172 5,564,000 13,553 1,892,681 1,666,051 1,666,051 5,555,000 13,960 2,029,604 1,802,973 1,802,973 2,994,000

144,378 2,279,559 2,052,929 2,052,929 2,636,155 21,600 220,475 2,594,526 3,501,046 3,495,195 1,280,000

13. £ 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799 20,799

20,799 + 776,979

56,359 + 520,901 + 713,553 + 596,810 + 887,316 -t 68,159

301,227 + 3,625,290 + 2,617,116 + 4,475,118 + 5,735,607 + 7,370,425 + 4,297,895 + 9,796,059 + 4,105,828 + 3,888,949 + 1,191,027 + 583,226

2,215,195

145,254 2,642,228 2,413,066 2,413,066 1,035,000
145,712 2,459,366 2,230,204 2,230,204 4,452,000
182,323 3,262,647 3,709,829 3,735,291 8,488,000
146,669 3,071,944 2,848,704 2,856,886 4, 126,249
147,169 3,271,411 2,763,521 2,773,393 3,374,000
147,683 3,488,987 2,857,179 2,863,025 2,569,000
233,588 3,818,590 4,939,044 5,143,752 652,224
161,551 3,799,633 3,590,297 3,669,791 715,900
183,633 3,852,205 3,637,761 3,700,169 556,000
460,012 4,196,383 3,983,850 4,061,147 1,823,000
502,488 4,339,014 4,126,016 -4,211,224 6,087,000
663,783 4,650,156 4,4 718

502.578 21,994,974
3,764,536 8,032,392 9,152,797 9,178.800 13,277.000

1,378,066 + 2,221,796 + 4,752,709 + 1,569,363 + 600,607

294,025 4,491,528 2,953,891

3,144,169 + 761,853 + 1,875,776 17,492,396 4,038,200

se page ».

AGGREGATE III. STATEMENT showing the TOTAL AGGREGATE Gross LIABILITIES of the

the amounts which were made available in each year to 1922–23 inclusive for that service, the Old Sinking Fund, and Miscellaneous Receipts; the and the Net Increase or Decrease of Aggregate Gross Liabilities in

.

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Other Amount of Provision

to reduction

issued in the
Total Aggregate Gross
Liabilities on the

Total
Year.

Out of Financial 1st April of each Yoar. Provision

† Old for

Sinking Fund Year.

the Year. Interest Repay. of previous

and

ment Year,

Manage. of * Surplus Internal. External.

ment. Principal. Revenue is

sued in Year.
1.
2.
3.
4.
5.

6.
£
£
£
£
£

£
1875-76
767,268,559

27,507,134 23,394,114 4,113,020 †331,867 1876–77 769, 405,590

28,054,748 23,392,684 4,662,064 1877-78 768,713,507

28,473,459 23,442,472 5,030,987 1878-79 770,921,944

28,703,873 23,581,405 5,122,468 1879-80 771,775,078

28,821,717 23,534,308 5,287,409 1880-81 770,604,774

29,632,922 23,564,911 6,068,011 1881-82 765,205,030

29,722,575 23,315,543 6,407,032 †433,363 1882-83 759,919,976

29,734,675 23,070,111 6,664,564 1883-84 753,853,902

29,706,023 22,936,104 6,769,919 1884-85 745,645,953

29,601,669 22,565,766 7,035,903 1885-36 739,882,117

23,502,322 22,249,811 1,252,511 1886-87 742,024,320

28,009,480 22,237,690 5,771,790 1887-88 736,153,067

26,264,429 21,194,504 5,069,925 1888-89 704,634,952

26,274,035 21,089,629 5,181,406 11,914,788 1889-90 697,604,295

25,275,171 19,982,774 5,292,397 1788,982 1890-91 689,089,046

25,348,372 19,301,101 6,047,271 12,221,002 1891-92 683,480, 459

25,314,453 18,808,912 6,505,541 †1,756,257 1892-93 677,069,062

25,376,264 18,781,483 6,594,781 † 1,067,013 1893-94 671,119,937

25,459,719 18,598,804 6,860,915 1894-95 667,290,715

25,196,854 18,509,884 6,686,970 1895-96 659,001,552

25,254,289 17,943,718 7,310,571 †765,342 1896-97 652,286,366

25,321,973 17,879,990 7,441,983 1375,000 1897-98 645,171,525

25,382,706 17,752,145 7,630,561 1898-99 638,817,507

25,383,053 17,530,950 7,852, 103 1899-1900. 635,393,784

23,678,959 17,541,753 6,137,206 1900-01 638,919,931

20,518,825 18,955,440 1,563,385 1901-02 703,934,349

22,670,475 21,019,768 1,650,707 1902-03 765,215,653

28,669,966 22,151,367 6,518,599 1903-04 798,349,190

28,787,405 21,270,368 7,517,037 1904-05 794,498,100

29,071,031 20,442,302 8,628,729 1905-06 796,736,491

30,944,370 20,483,064 10,461,306 1906-07 788,990,187

31,704,362 20,204,619 11,499,743 †3,465,620 1907-08 779,164,704

32,942,569 20,017,659 12,924,910 +5,298,822 1908-09 762,326,051

31,550,507 19,426,372 12,124,135 †2,625,596 1909-10 754,121,309

25,560,877 19,677,007 5,883,870 1910-11 762,463,625

28,458,491 19,321,869 9,136,622 1911-12 733,072,610

28,194,591 18,835,919 9,358,672 +2,356,766 1912-13 724,806,428

29,267,790 18,908,233 10,359,557 5,000,000 1913-14 716,288,421

29,220,634 18,689,479 10,531,154 †180,069 1914-15 707,654,110

27,484,442 21,203,843 6,280,599 795,115 1915-16 1,165,801,702

65,319,611 59,809,101 5,510,510 1916-17 2,136,822,807 60,616,438 132,610,030 126,813,512 5,766,518 1917-18 (+)3,663,333,761 400, 311,220 195,174,036 189,350,442 5,823,594 1918-19 4,872,421,858 1,048,678,961 275,272,091 269,608,073 5,664,018 1919-20 6,116,197,785 1,364,852,657 337,326,117 328,159,536 9,166,581 1920-21 (1) 6,599,893,761 1,278,713,405 354,985,868 329,882,484 25,103,384 1230,556,789 1921-22 |(1)6,472,585,158 1,161,563,174 338,210,686 309,213,703 28,996,983 $45,693,246 1922-23 (?)8,653,56,232 1,088,669,915 331,220,675 302,242,037 28,978,638 101,515,848 1923-24 |(1) 6,687,072,243 1,155,653,503

For Notes

GROSS LIABILITIES.
STATE outstanding on the 1st April in each year from 1875 to 1923 inclusive;
for Reduction of those Liabilities, distinguishing the sums expressly provided
Gross Amount of Liabilities Redeemed; the Amount of Liabilities Created;

the year.

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Total Amounts applicable Amount of Liabilities.

Applicable

Total
to

Gross
Amount
reduction

Amount
Other

Net Increase (+)

Liabilities
Taken out of

of
applied to

of
issues

reductionof Liabilities

or Decrease (-) Exchequer

Liabilities

created from the

Liabilities Balance

in the

of Aggregate in the redeemed

Gross Liabilities Exchequer

Year. in the

Year. or from

in the Year.
and Mis.
Year.

in the Year. proceeds of cellaneous

(Columns fresh loans.

5 to 8.)
receipts.
7.
8.
9.
10.
11.
12.

13.
£
£
£
£
£
£

£
37,500 66,076 4,548,463 4,548,463 4,658,221 6,795,252 +- 2,187,031
8,000 91,822 4,761,886 4,422,906 4,436,489 3,744,406

692,083 113,636 5,144,623 5,483,603 5,626,254 7,834,691 + 2,208,437

125.095 5,247,503 5,247,563 5,322,889 6,176,023 + 853,134 500,000 100,229 5,887,638 5,887,638 5,909,563 4,739,259 1,170,304 117,140 6,185,151 6,185,151 6,199,744

800,000 5,399,744 121,325 6,961,720 6,961,720 6,992,057 1,707,003 5,285,054 132,551 6,797,115 6,797,115 6,708,493

642,419

6,066,074 1,914,633 244,377 8,928,929 8,928,929 8,742,949

535,000 8,207,949 291,385 7,327,288 7,327,288 7,279,440 1,515,604 5,768,836

285,730 1,538,241 1,538,241 1,507,797 3,650,000 + 2,142,203 1,500 289,913 6,063,203 6,063,203 5,871,253

5,871,253 46,800 255,296 5,372,021 4,693,186 31,518,115

(a)31,518,115 12,000 347,271 7,458,465 8,073,363 8,030,657 1,000,000 7,030,657 1,870,200 321,726 8,273,305 8,337,242 8,605,764

90,515 8,515,248 1,131,520 298,912 9,698,705 9,698,705

9,646,587 4,039,000 5,608,587 331,422 8,593,220 8,593,220 8,803,118 2,391,721 6,411,397 500 301,852 7,964,146 7,964,146 8,005,125 2,056,000 5,949,125

700 321,651 7,183,266 5,582,420 5,564,222 1,735,000 3,829,222 750,000 338,480 7,775,450 9,376,296 9,049,163

760,000 8,289,163 319,114 8,395,027 7,926,912 7,803,736 1,088,550 6,715,186 348,299 8,165,892 8,505,004 7,808,955

694,114 7,114,841 430,075 8,060,636 7,128,322 6,354,018

6,854,018 538,070 8,390,173 8,057,021 7,356,109 3,932,336

3,423,773 260,356 6,397,562 7,792,021 7,459,420 10,985,617+ 3,526,197

269,467 1,832,852 1,832,852 1,900,169 66,914,587 + 65,014,418 3,000,000 314,226 4,964,933 4,964,933 5,002,796 66,284,100 + 61,281,304

260,289 6,778,888 6,778,888 7,006,863 40,140,400+ 33,133,537

3,398,183 10,915,220 10,599,741 11,156,090 7,305,000 3,851,090 2,000,000 296,055 10,924,784 9,002,584 9,519,041 11,757,432+ 2,288,391 1,489,555 11,950,861 12,957,376 13,310,304 5,564,000

7,746,304 766,592 15,731,955 15,007,383| 15,380,483 5,555,000 9,825,488 466,174 18,689,906 18,833,717 19,832,653 2,994,000 16,838,653

735,896 15,485,627 8,724,185 10,840,897 2,636,155) 8,204,742 21,600 786,320 6,691,790 14,265,158 13,937,6 (b)22,280,000+ 8,842,816

787,906 9,924,528 8,514,264 30,426,015 1,035,000 29,891,015 560,330 12,275,768 10,986,445 12,718,182 4,452,000 8,286,182

627,110 15,986,667 15,054,808 17,006,007 8,488,000 8,518,007 1,038,461 11,749,684 10,982,734 13,060,560 4,426,249 8,634,311

828,047 7,203,761 10,859,884 11,726,408 469,874,000 + 458,147,592 (c)186,538,813 801,756 192,851,079 193,219,271 (d)602,461,364(e)1,634,098,907 + 1,031,637,543

19,891,690 158,564,961 617,287 165,005,842 162,305,997 165,559,557 2,023,010,415 + 1,857,450,838 249,644,076 297,495 255,605,589 248,045,398 (h)348,889,255 1,908,843,878 + 1,559,954,623 560,679,769 1,226,207 571,072,557 568,708,049 (n)866,686,144 1,264,242,868 +(m)397,556,724 119,757,000 1,846,509 377,263,682 368,729,637 (h)366,369,796 120,900,962 –(m)244,458,884 399,449,050 1,636,229 475,775,508 464,509,837 715,994,522 824,372,337 -+ (m)108,877,816 226,922,353 5,952,975 363,369,814 357,788,543 831,644,452 931,844,051 +(m)100,199,699

600

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4

NOTES TO TABLES I., II., AND III. [MEM.- In this return the figures for the years 1916–17 to 1921–22 have been

revised. When money raised by one form of Floating Debt (e.g., Treasury Bills) has been used to repay another form (e.g., Ways and Means Advances) the transaction has been ignored, with the result that the figures in Columns 9, 11 and 12 of Tables I. and III. have been considerably reduced. Those in Column 13 are, of course, not affected.]

(a) 26,558,9591. cancelled under the National Debt and Local Loans Act, 1887, Local Loans Stock being created in its place.

(b) 21,000,0001. was temporarily borrowed on the credit of Ways and Means owing to the delay in passing the Finance Act for 1909-10. The whole amount was repaid by the 30th September, 1910.

(c) Includes 170,143,3131. issued under section 1 (5) of the War Loan Act, 1915.

(d) Includes 177,113,5291. cancelled under section 1 (5) of the War Loan Act, 1915, and 401,904,5091. cancelled on conversion into 41 per cent. War Loan under section 1 (3) of that Act, of which 35,795,4901. was exchanged on account of Savings Banks Funds.

(e) Includes 313,635,2731. 4. per cent. War Loan created in respect of conversions under the War Loan Act, 1915, of which 23,863,6601. was in exchange for Stock cancelled on account of Savings Banks Funds.

(f) Includes 1,075,300,1281. cancelled on conversion into 5 per cent. and per cent. War Loans under the War Loan Act, 1916.

(9) Includes 1,130,319,1341. 5 per cent. and 4 per cent. War Loans created in respect of the foregoing conversion.

(h) Includes 83,288,6861. in 1918-19, 82,601,9551. in 1919–20 and 6,116,0241. in 1920–21 in respect of Canadian Government dollar advances set off against corresponding sums due to the Imperial Government. (Cd. 9234 of 1919; 583, 616, and 651 of 1920.)

(k) This item includes instalments of the 5 per cent. and 4 per cent. War Loan not due until after 31st March, 1917, as well as approximately 157,000,0001. Ways and Means advances borrowed before that date in anticipation of those instalments. Further, it treats conversions connected with those Loans as having been carried through by 31st March 1917, although they were not actually completed until after that date.

(1) Includes from 1920 21 onwards Funding Loan and Victory Bonds tendered for Death Duties under 9 & 10 Geo. V., c. 37, and held by the National

Debt Commissioners until drawn or paid off. The amount so held on 1st April em 1923 was 30,163,2211.

(m) The issue of Funding Loan and Victory Bonds at a discount, the conversion of 5 per cent. Bonds, &c., into 3) per cent. Conversion Loan and the capitalization of arrears of interest on the U.S.A. Loan, tended to increase the figures for nominal debt in the years 1919-20 to 1922–33 in Columns 11, 12 and 13.

* The total amount applicable to reduction of Liabilities is not in all cases applied within the year. In the case of Dead Weight Debt the National Debt Commissioners may not be able to effect purchases of stock, &c., immediately on receipt of the money, but the cash balances in their hands at the end of the year are applied in the following year, except in the case of the Depreciation Fund, which is applied as directed by section 32 of the Finance Act, 1917. In the case of Other Capital Liabilities, the sums paid from Army and Navy Votes for redemption of the Exchequer Bonds issued under the Capital Expenditure (Money) Act, 1904, and those paid from the Post Office Vote for the redemption of Exchequer Bonds issued under the Telephone Transfer Aet, 1911, are paid to the National Debt Comunissioners and are by them invested and accumulated imtil the Bonds mature or can be purchased. The debt created under the Anglo-Persian Oil Company (Acquisition of Capital) Amendment Act, 1919, in connection with the purchase of further shares in the Anglo-Persian Oil Company, is to be repaid by the application of the balance of dividends received on the holding after paying the interest on the debt outstanding. The issues on this account are included in Table II., Column 8. In this column are also included the repayments from the Unemployment Fund, which are issued to the National Debt Commissioners in reduction of the amounts borrowed under the Unemployment Insurance Acts, 1921.

Col. 10, Tables I., II. and III. shows the amount of cash actually applied within the year.

Printed under the authority of His MẠJESTY'S STATIONERY OFFICE
By Eyre and Spottiswoode, Ltd., East Harding Street, E.C. 4,

Printers to the King's most Excellent Majesty.

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