§ It may interest the Committee to have a comparison of our position in respect of debt during the last five years. In the course of the five years ended 31st March last we created debt to the amount of £188,630,000. This amount is attributable; to the war, £159,000,000; to other expenditure charged to capital account, £27,630,00); and to recent low state of our balances, £2,000,000. The total amount redeemed in the period has been £29,525,000, leaving a net increase of the State's liabilities over this period of five years of £159,105,000, or almost exactly the same amount as we raised for the purposes of the war.