WORLD BILL FOR ARMS.
£5000 SPENT EVE&T MINUTE.
WASHINGTON, February IH. Thousands of millions of poiitidn hav» been added to the world's annual expenditure on arms in the lust two years. The total amount spent for this pur|tose during last year worked out at £5000 a minute. A survey carried out !>y tlie Foreign Policy Association reveaU the alarming jump in arms expenditure between 1034 and 1930. In 1934 the world spent £ 1 ,250,000,000 on arm*. In 1036 it spent £2,750,000,000. This is five times the national income of Australia for one year. Expressed in weeks, days, hours, and minutes, it works out at:— £52,884,615 a week. £7,554,045 a day. £314,700 an hour. £5246 a minute. Biggest spendera on naval and military defences last year were;— Germany, £650,000,000. Italy, £335,000,000. United States, £241,000,000. Great Britain, £212,000,000. France, £170,000,000. Japan, £77,000,000. The Foreign Polity Association's report says that current armament programmes are based on the assumption that "war is an imminent possibility."
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Auckland Star, Volume LXVIII, Issue 45, 23 February 1937, Page 7
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161WORLD BILL FOR ARMS. Auckland Star, Volume LXVIII, Issue 45, 23 February 1937, Page 7
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